Health Insurance

RECENT NEWS
NPR  Feb 25  Comment 
Young adult children may have more options than their parents in choosing health coverage. So they may want to go their separate ways when shopping for insurance.
New York Times  Feb 25  Comment 
The Treasury Department said those who expected to pay less taxes after receiving corrected health insurance data could amend their filings, but it would not be mandatory.
New York Times  Feb 24  Comment 
The Treasury Department said those who expected to pay less taxes after receiving corrected health insurance data could amend their filings, but it would not be mandatory.
The Hindu Business Line  Feb 24  Comment 
Move in response to complaints by general insurers citing lack of level-playing field
TheStreet.com  Feb 23  Comment 
NEW YORK (TheStreet) -- The shares of a number of health insurers are rising after the Centers for Medicare and Medicaid Services, or CMS, issued preliminary 2016 Medicare Advantage rates. According to Credit Suisse, the rates were favorable for...
Insurance Journal  Feb 23  Comment 
The U.S. said it sent 800,000 Americans incorrect information that may affect how much they owe in taxes this year because of subsidies they got to help pay for health insurance under Obamacare. People affected by the error are being … The...
New York Times  Feb 20  Comment 
Health insurance marketplaces have been reopened so that people won’t be shut out of coverage — and forced to pay a penalty — for a second year.
MarketWatch  Feb 20  Comment 
The Obama administration said it would allow people to sign up for plans on HealthCare.gov through April to avoid tax penalties for not having health insurance in 2015.
MarketWatch  Feb 20  Comment 
People who buy health insurance on federally run exchanges could see their subsidies threatened by an upcoming Supreme Court case, writes Diana Furchtgott-Roth.
Insurance Journal  Feb 19  Comment 
A lack of adequate testing before the Minnesota’s health insurance exchange launched in 2013 and other issues meant the exchange’s “failures outweighed its achievements” in its first year, the legislative auditor concluded in a report...




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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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