Health Insurance

RECENT NEWS
The Hindu Business Line  44 min ago  Comment 
Will help check fraud and settle claims faster, say insurers
Forbes  3 hrs ago  Comment 
Very few industries in bed with Obamacare come off smelling like a rose.  But if one had to pick a bad actor above all others, it would probably be Big Health Insurance.
Yahoo  Sep 16  Comment 
The ranks of the uninsured plummeted in early 2014.
New York Times  Sep 16  Comment 
Federal researchers found that the number of uninsured declined substantially in the first quarter of this year.
New York Times  Sep 16  Comment 
The Obama administration said it would terminate health insurance for 115,000 people on Oct. 1 because they had failed to prove they were eligible for coverage.
SeekingAlpha  Sep 15  Comment 
By Ashleigh Rogers: WellPoint (NYSE:WLP) is one of the largest managed care companies in the US serving almost 40 million people primarily under its Blue Cross/Blue Shield nameplates in California and 13 other states. While the company is the...
New York Times  Sep 15  Comment 
Cognizant, a large outsourcing firm, said the deal would mean the combined companies would serve health care plans that provide coverage to about 180 million Americans.
Forbes  Sep 14  Comment 
A wave of hospital mergers and acquisitions spreading across the U.S. has the health insurance industry attempting to stand in the way with legalese, Congressional lobbying and in the court of public opinion.
Motley Fool  Sep 14  Comment 
Many baby boomers are in a tough place: too young for Medicare, and running afoul of Obamacare subsidy rules
Insurance Journal  Sep 12  Comment 
A nonprofit created by the Arkansas legislature has decided to delay establishing a state-run health insurance exchange until 2016 to avoid a rush to build the technology system for it. The Arkansas Health Insurance Marketplace Board had hoped to...




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Types of Coverage

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Private Coverage

Job-Based Coverage

Individual Policies

Association Health Plans

Consumer Driven Health Plans

Government-Funded Coverage

Medicare

Medicare is a federal health insurance program for: a) individuals aged 65 years and above; b) individuals under the age of 65 with certain disabilities; or c) or individuals with end-stage renal disease. There are three types of Medicare plans:

  • Original Medicare Plan, which consists of two parts:
    • Hospital Insurance (Part A): This part pays for inpatient care at public hospitals, critical access hospitals (small facilities that give limited inpatient and outpatient services to people in rural areas), skilled nursing facilities (not custodial or long-term care) as well as hospice care and some home health care. All individuals eligible for Medicare are enrolled automatically and free of charge in Part A.
    • Medical Insurance (Part B): This part pays for doctor visits, outpatient hospital care and other necessary medical services not covered by Part A, such as physical and occupational therapy, and some home health care. Part B is optional and, in 2008, most beneficiaries paid monthly insurance premiums of $96.40. Beneficiaries must also pay an annual deductible before Part B coverage kicks in.
2008 Part B Monthly Insurance Premiums Yearly Income (Single Individual) Yearly Income (Married Couple) Yearly Income (Married Individual)
$96.40$82,000 or less$164,000 or less$82,000 or less
$122.20$82,001 - $102,000$164,001 - $204,000NA
$160.90 $102,001 - $153,000$204,001 - $306,000NA
$199.70$153,001 - $205,000$306,001 - $410,000$82,001 - $123,000
$238.40above $205,000above $410,000above $123,000
  • Medicare Advantage Plans (Part C), formerly known as Medicare+Choice, are private health insurance plans under the Medicare program. These plans pay for more medical services than the Original Medicare Plan by packaging Part A, Part B and additional coverage into one convenient bundle. Part C is optional and beneficiaries often pay higher monthly insurances premiums, but lower deductibles, than those required for Part B. Medicare Advantage is only offered in certain parts of the country and includes HMO Plans, PPO Plans, Medicare Private FFS Plans, Medicare MSA Plans or Medicare Special Needs Plans.
  • Medicare Prescription Drug Plans (Part D) add prescription drug coverage to the Original Medicare Plan, Medicare MSA Plans, some Medicare Cost Plans and some Medicare Private FFS Plans. Each plan is run by a private company and, hence, varies slightly from other plans that fall under Part D. However, all such plans conform to standards set by the federal goverment. Part D is optional and beneficiaries pay monthly insurance premiums and an annual deductible in exchange for a large degree of flexibility in choosing what drugs need to be covered by these plans.

Medicaid

State High Risk Pools

Trends

Number Uninsured and Uninsured Rate (1987-2007)

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Difference in 2-Year-Average Uninsured Rates by State (2006-2007)

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