Health Insurance

RECENT NEWS
Benzinga  Jun 20  Comment 
Cotiviti Holdings Inc (NYSE: COTV) is a leading provider of payment accuracy solutions to health insurers and retailers. William Blair analysts initiated coverage of the company with an Outperform rating, saying that Cotiviti has a large and...
Forbes  Jun 19  Comment 
The Federal Trade Commission and Justice Department are challenging insurance and hospital mergers the dealmakers say will help Americans covered under the Affordable Care Act
NPR  Jun 18  Comment 
State legislatures around the U.S. are debating which birth control benefits insurers must cover. Vermont is one of several states going beyond a focus on female contraception to include vasectomies.
NPR  Jun 17  Comment 
Counselors nationwide have helped 7 million people choose Medicare plans, challenge coverage denials and get subsidies. But some senators just voted to spend the money on other causes.
The Hindu Business Line  Jun 16  Comment 
DHFL Pramerica Life Insurance (DPLI) has forayed into digital online space with the launch of pure online health insurance product - Dengue Shield. “We have now moved into digital under the overall...
Motley Fool  Jun 16  Comment 
Medicare enrollment is automatic for some people and not for others. Learn the rules so that you can make the most of the valuable program.
Forbes  Jun 15  Comment 
In the end, whichever small business health insurance market you choose – individual or group – depends on your unique needs. There are benefits to each, but they are absolutely different and will affect your business financially.
Insurance Journal  Jun 15  Comment 
A Baton Rouge state judge has ruled that a lawsuit that claims the Jindal administration mismanaged the state health insurance program and illegally implemented changes to it can move forward. Six retired state employees allege the state Office of...
Reuters  Jun 14  Comment 
* League plans expansion, own insurance product in coming months
Motley Fool  Jun 12  Comment 
Another one of Obamacare's healthcare cooperatives bit the dust. Is this an ominous sign of a downward spiral in the health law of the land?




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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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