Trends in Healthcare
April 29, 2013
Instructor: Jennifer Hitt
Trends in Health Care
Health insurance can provide you with peace of mind. It protects you by covering much of what you would be expected to pay should you need medical care and saves you from the burden of paying the full costs for your care most of the time. Health insurance covers not only the unexpected expenses, like a trip to the emergency room, but it also covers preventive care like annual doctor visits and routine mammograms. Some insurance even covers all or part of prescription cost as well vision and dental care. Whether you’re seeing a doctor or filling a prescription, taking ...view middle of the document...
Over the past nine years, premiums for employer-sponsored health insurance have more than
doubled a growth rate four times faster than cumulative wage increases. According to the (Kaiser
Family Foundation (2008), and (Health Reform.gov(2009), the average cost of an employer-
based family insurance policy premium in 2008 was $12,680 – nearly the annual earnings of a
full-time minimum wage job.
Another recent study estimates that by 2016 the average cost of family employer-sponsored
health insurance will top $24,000, an 83 percent increase over 2008 premium levels (New
America Foundation (2008).
According to (New America Foundation (2008), To meet this high cost, at least half of
American families will have to spend more than 45 percent of their annual income to purchase
When the costs of premiums increase, employers have more difficulty providing health coverage, and their workers struggle to afford their share of the cost.
Because the United States does not have universal health coverage for everyone in the country, the government does make an appropriate effort of providing coverage for those who cannot afford suitable medical care and just to name a few:
* Medicare- it is the most widely known government health insurance program. It caters to the elderly in that it gives coverage to elderly workers and their families, the permanently disabled and Enstage Renal Stage Disease (ESRD) patients.
* Medicaid- it provides health coverage to poor citizens who lack any form of insurance. The program helps many people but it recently receded in importance as some doctors have refused to accept it due to low reimbursement rates by the government.
As mentioned previously, there are several kinds of health insurance, but one in particular can be rather pricey. Self-pay insurance comes into play when your employer does not offer insurance as a group plan but health insurance is still available. However, you are responsible for purchasing your own health insurance from a private company. Individual policies are generally more expensive compared group and government insurance and may have fewer benefits.
Models of Managed Care
According to (Cohen, W. J., (1962), Health insurance is a field of bustling activity, experimentation, and controversy. It is an industry, a vital social purpose. Excepting a health care benefits package from your employer or if you are eligible for assistance via government insurance, this just the first step to acquiring coverage. There are three models of managed care that are necessary in choosing a health benefits package. And you the consumer will have to decide which one better suites your life style.
Health Maintenance Organization (HMO)
Is a type of health insurance plan that usually limits coverage to care from doctors who work for or contract with the HMO. It...