Health Insurance

RECENT NEWS
Insurance Journal  3 hrs ago  Comment 
Anthem Inc., the largest U.S. health insurance company, has agreed to settle litigation over hacking in 2015 that compromised about 79 million people’s personal information for $115 million, which lawyers said would be the largest settlement...
Motley Fool  Jun 25  Comment 
Are you shopping for a policy? Here are five key things to look for to make sure you can afford health insurance and get the care that you need.
Reuters  Jun 23  Comment 
Anthem Inc , the largest U.S. health insurance company, has agreed to settle litigation over hacking in 2015 that compromised about 79 million people's personal information for $115 million, which lawyers said would be the largest settlement ever...
Forbes  Jun 22  Comment 
Cost-sharing subsidies that low-income patients use to help pay for coverage on the health insurance exchanges would remain until 2020 under legislation to replace Obamacare that was unveiled by the Senate majority Thursday, a move cheered by...
Insurance Journal  Jun 22  Comment 
Senate Republicans’ proposal to replace Obamacare would provide an additional $50 billion over four years to stabilize insurance exchanges, relying on a mechanism Republicans have criticized in the past as a way to keep insurers in the...
WA Business News  Jun 22  Comment 
Dental services account for almost half of the extras claims made by customers of private health insurance giant Medibank, at more than $500 million, latest figures show.
NPR  Jun 21  Comment 
Health insurers have to let the government know Wednesday if they'll be selling policies on the federal exchange next year. But Congress has yet to tell them what those policies will cover.
Motley Fool  Jun 21  Comment 
Teladoc is rapidly expanding its telehealth services to help more patients avoid costly and inconvenient in-office doctor visits.
TechCrunch  Jun 21  Comment 
 Oscar Health seems to be expanding rather than shrinking in the next year. Despite worries that the Affordable Care Act wasn’t working out for health insurance companies, Oscar has filed to expand in 2018, adding the states of Ohio and...
Motley Fool  Jun 18  Comment 
Take a close look at the tax rules that will change if Trumpcare passes.




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Types of Coverage

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Individual Policies

Association Health Plans

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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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