Health Insurance
About MedicareMedicare is a program created by the United States government to help provide health insurance for people who are 65 or older than that, people with disabilities and for people who have life-ending disease or illness. This landmark program came into effect when President Lyndon B. Johnson signed it into a law in the year 1965. Funding for this program comes from two sources; one is payroll taxes imposed by the Federal Insurance Contributions Act (FICA) and the Self-Employment Contributions Act of 1954. The original Medicare program consisted of two parts. Part A and Part B. Part A provided coverage for hospital stay, while Part B provides coverage for medical services not covered under Part A. Part B coverage is for outpatient type and is more of a supplement to the coverage offered by Part A of this program. The balanced Budget Act passed in 1997 enabled the Medicare program to be made available to people through private health insurance plans. This is the Part C coverage and is referred to as the Medicare Advantage Plans. In January 2006 the Medicare Part D coverage came into effect, with the passing of the Medicare Prescription Drug, Improvement, and Modernization Act. Those with Part A and Part B coverage are eligible for taking it up. Those interested in this coverage must get into a stand-alone Prescription Drug Plan (PDP) or Medicare Advantage plan with prescription drug coverage (MA-PD) when taking it up. One aspect to be noted about the Part A and the Part B coverage is that it does not pay all the medical costs incurred by the policy owner. There are out-of-pocket payments that a person must be ready to pay such as premiums, deductibles and co-pays. The Part A coverage does not include all this; it comes under the Part B coverage, wherein payments are expected from the policy owner. A supplemental coverage called Medigap is available, which meets up on those parts that are left out of the Part A and Pat B coverage in Medicare. It is also possible for eligible candidates to get other governmental programs such as Medicaid to pay the premium and part or all of the costs relate to taking up a Medicare policy.
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Health Insurance CenterAbout Health Insurance PolicyWhy health insurance is a must for everyone Health Insurance Claim Process The process involved in claiming the Health Insurance. Basics of an Individual Health Insurance PolicyTaken up by individuals who could not opt for job oriented health insurance Understanding group health insurance policyInsurance coverage offered by an employer How do you go about finding health insurance?Different Sources for getting health insurance Understanding CobraCobra is an unique law which came into effect in 1985 About MedicaidProgram by the United States Government dealing with health insurance for the poor. About MedicareHealth insurance for elderly people or one with disabilities. About PPOPolicy owners can choose from a preferred network of doctors. Factors affecting your cost on Health InsuranceSome of the factors determining cost on health insurance Health Maintenance OrganizationInvolves selecting a Doctor belonging to the HMO network About Managed Care PlansComprises of the discussed three categories. About Indemnity PlansMedical Care Provider charges a fee which is paid or reimbursed by the insurance provider. |
