Health Insurance

RECENT NEWS
Insurance Journal  Apr 28  Comment 
A bill that will allow individuals to purchase health insurance from any state participating in a yet-to-be-determined compact has passed Oklahoma House of Representatives by a vote of 80-0. Senate Bill 478, by state Rep. Lewis Moore and Bill...
Forbes  Apr 28  Comment 
A U.S. Appeals Court agreed with a lower federal court’s ruling blocking the acquisition by Anthem of Cigna to create the nation’s largest health insurance company.
MarketWatch  Apr 27  Comment 
Molina Healthcare Inc. said in a letter to Congressional leaders Thursday that if cost-sharing payments that are part of the Affordable Care Act aren't funded it has "no choice" but to pull out of the health law's marketplaces immediately. "That...
Insurance Journal  Apr 27  Comment 
California lawmakers are considering an audacious proposal that would substantially remake the state’s health care system by eliminating insurance companies and guaranteeing coverage for everyone. The idea known as single-payer healthcare has...
DailyFinance  Apr 26  Comment 
Filed under: Finance, Business, Companies Blame the millennial generation all you want for being lazy and not conforming to the work culture of the past. Read more...   Permalink | Email this | Linking Blogs | Comments
DailyFinance  Apr 26  Comment 
Filed under: News, Politics, Congress Republicans have a new plan to revive their overhaul of the health care system, and it may bring the party closer to passing their bill. Allows states to waive essential health benefits: Under...
Insurance Journal  Apr 26  Comment 
XL Catlin has launched “Protect and Assist,” its accident and health insurance solution designed to help UK businesses protect their people and meet their duty of care in the face of emerging risks and heightened security threats. Protect and...
Financial Times  Apr 26  Comment 
Move to ensure all workers have health insurance and unemployment benefits
TechCrunch  Apr 25  Comment 
 Oscar Health, a startup rethinking health insurance for the digital age, is rolling out a new product for small businesses called Oscar for Business. The rollout comes as Oscar struggles with its original bet on individual insurance through the...
Wall Street Journal  Apr 25  Comment 
A dispute between the largest pharmacy benefit manager and a health insurance giant has shown how profitable some relationships have become—giving more ammunition to critics of the health-care system.




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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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