Health Insurance Facts in addition to Figures
It’s amazing to read around the fact companies pay their top CEOs huge amounts of money per year but that in excess of 40 million Americans – and even more than 8 million children – can’t afford medical care insurance and don’t get it through their organization employer.
The Affordable Care Act passed truly aims to change this. A lot of the new changes include that EVERYONE need to have health insurance by 2014 or face penalties on the IRS. Small businesses will also be given large tax breaks and government stipends that can help get their employees insured.
Areas more interesting facts about medical care insurance:
Health care costs typically covered by insurance include doctor visits, medical visits, surgery, advanced procedures, testing, home care, routine and advanced treatments along with services. Typically, the people who qualify for Medicare are those who’re 65 years or older, together with younger people with disabilities and individuals with permanent kidney failure. Medicaid is those of you that are receiving federal government assistance. It typically covers hospitalization, doctor’s visits along with types of services. Prescription prescription drugs, chronic illnesses, uninsured patients, and longer life expectancy are adding to the rising cost of health. Supplemental insurance covers treatments and services that regular medical care insurance doesn’t.
Worker’s compensation covers health health care costs for illnesses and injuries that occurred because of a person’s employment.
Types of Options:
-Fee-for-Service: Fee-for-service plans allow you to choose the hospital and doctor you wish, but you have to fork out a monthly premium fee.
-Health Repair Organizations: HMOs are prepaid health plans that need you to pay a co-payment when you go to the doctor. The plans concentrate on preventative care to keep costs down (the costs involved with treating someone with advanced illnesses are more achieable).
-Health Savings Accounts: These savings accounts help pay down high deductibles. They often take over from year to season.
-Point of Service Plans: These plans assist you to see doctors who aren’t in your plan.
-Preferred Provider Organizations: Including HMOs, there is a small co-payment for visiting doctors in your plan. Unlike HMOs, you could see doctors who are outside ones plan, but you’ll have to repay more of the bill by yourself.
-Self-Directed Health Plans: This is a PPO plan put together with a quarterly allowance useful for preventative health care. Such as a health savings account, the money rolls over to the next year if you don’t work with it.