Health Insurance

RECENT NEWS
New York Times  Nov 27  Comment 
The applications at the start of the three-month enrollment period showed that in contrast to initial problems last year, HealthCare.gov was working.
New York Times  Nov 26  Comment 
The applications at the start of the three-month enrollment period showed that in contrast to initial problems last year, HealthCare.gov was working.
Forbes  Nov 25  Comment 
Navigating your health insurance options can be difficult when you don’t know how cost-sharing works. Understanding concepts like deductibles and out-of-pocket maximums is important in choosing the best plan for your needs.
NPR  Nov 25  Comment 
Coming of age can also mean a whopping 58 percent jump in the cost of your insurance. Shop carefully to pick a plan that strikes the right balance between benefits and cost.
New York Times  Nov 25  Comment 
Based on past experience with the Affordable Care Act, this year’s search is likely to take about half of my working hours over a six-week span.
Benzinga  Nov 25  Comment 
Below are the health care plans stocks on the NYSE and the NASDAQ in terms of revenue. The trailing-twelve-month revenue at CVS Health (NYSE: CVS) is $135.14 billion. CVS Health's profit margin for the same period is 3.40%. The...
Insurance Journal  Nov 24  Comment 
U.S. House Republicans sued President Barack Obama’s administration over implementation of the 2010 healthcare law, saying the president exceeded his authority by delaying part of the program. The complaint filed yesterday in Washington federal...
WA Business News  Nov 23  Comment 
The federal government has reaped almost $5.7 billion from selling off Australia's largest private health insurance company, Medibank Private, which makes its share market debut this week.
The Australian  Nov 23  Comment 
Forbes  Nov 22  Comment 
Neerav Kingsland directs us to a new report from Washington Policy Center that raises an interesting question about how Obamacare will affect state and local budgets. In particular, the study suggests that the Cadillac Tax on expensive health...
New York Times  Nov 21  Comment 
The study upended conventional thinking about health insurance, and many of the individual stories were compelling and surprising in their own right.




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Types of Coverage

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)

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

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