Types of Health Insurance

Compare and contrast the major types of health insurance (private, Medicare, Medicaid, VA, etc.) in the U.S. Consider using bolded headings to organize and present your information. How would a single-payer system impact the current insurance providers in the U.S.? Respond to at least two classmates’ posts offering additional information, a different perspective, links to relative articles/websites, etc. Reply to discussion below: Private: has been called “voluntary health insurance.” Most private health insurance is employment base, but workers are not mandated to buy it. There are several types of private insurance and they are as follows: group insurance, self-insurance, individual private health insurance, managed care plans, high-deductible plans and saving options, medigap, and short-term stop gap coverage. Recently there has been a steady declined in the purchase of private health insurance in the last few years. These plans are not state or government funded. Medicare: is supported by payroll cash contribution. It pays for the healthcare services for Americans 65 years and older. It also pays for the coverage of those younger than 65 years old if they are disable or have end stage renal disease. Medicare covers up to 80% of the healthcare cost which means that additional coverage is needed. The consumers have an option to purchase a medigap plan which is sponsored by private insurance companies. Medicare covers less than half of older adults total health spending. It is noted that on average an older adults spend at least 20% of their household income on health services and premiums. Medicaid: is a cost sharing program that involves state and federal funds. It provides services for the following: low income, elderly, disabled, and pediatric populations. Although the federal government mandates certain basic coverage each state can add additional coverage. If states continue to struggle to pay their share of the Medicaid spending a crisis will soon occur. Out-of-pocket cost for Medicaid varies from state to state but are usually income based; with most individuals having to pay little to no cost. One disadvantage to this coverage has been that some providers may not accept the insurance. VA: was started by the government to provide services to veterans. They have their own hospitals, outpatient clinics, and nursing homes. Services are provided to 8.76 million veterans. Congress requires that services are provided on a priority basis to veterans with service-connected illnesses and disabilities, low incomes, or special health care needs. Funding for the program is appropriated in the annual national budget approved by congress. Although this system has been successful it suffers from capacity and financing constraints that have resulted in a lack of access of timely care for some veterans. This prompted the creation of the Veterans Access, Choice, and Accountability Act. A single-payer system impact for the current insurance providers in the U.S.: Would work by expanding the current government funded health plans like Medicare, Medicaid, and VA. I don’t think that there will be a market for private insurance companies under a single-payer system. All Americans would be covered for all medically necessary services. Patients would also have a choice of the doctor and hospital that would care for them.

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