Health Insurance Plans



Health Insurance Plans

In the present times, US economy is facing two fold challenges; they must find a suitable way to cover all their people and secondly they must determine a way to get the best return from US$2 Trillion spent on health system. In the presence of such shortcomings of U.S healthcare system, government introduced national healthcare programs, such as Medicare and Medicaid tested health and medical services program for certain individuals and families with low level of incomes and scarce resources. In addition to it, the physicians proposed for the creation of National Health Insurance program. It would be an improved version of traditional Medicare, and it would cover every citizen. It would save at least $200 billion annually which will be more than enough to cover all of the uninsured people (Himmelstein & Angell, 2003). Physicians and hospitals would not need to carry the burden of expenses of paper work and comply with different rules for multiple insurers. Under a national healthcare, the financial threat of illness to patients would be eliminated as would current restriction on choice of physicians and hospitals (Hacker, 2007).

Medicare

Medicare is an insurance plan for people aged above 65. There are three key components. Medicare Part A covers partial amount of hospital stay expenses if a patient stays at least overnight. If old man/women stay for more than three days, he/she also becomes eligible for skilled nursing facility for max for 100 days. According to the policy, first 20 days will be covered fully by Medicare. All additional stay exceeding 20 days at Skilled nursing facility will require a copayment of $141.50 per day. If a patient stays for a total of 40 days, even, though, intial prescribed stay is 20 or less number of days, Medicare will only provide a cover ...