Health Insurance

The health care system in America is funded from both private and public sources. A health insurance covers most of your health care needs like tests, medications and treatment. However, your insurance may not cover all services. You need to pay for any uncovered services that you may require.

Who provides health insurance?

Health insurance for working Americans is provided primarily through the benefit plans that are sponsored by the employers. Seniors in US may buy their own health insurance. Most seniors in the US obtain their health insurance through individual health insurance market or even from professional associations.

What are the types of health insurance providers available in US?

There are primarily two different types of organizations that provide health insurance in US. These are: state-licensed health insuring organizations and self-funded employee health benefits.

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What types of health insurance plans are available?

Healthcare is delivered through two types of channels:

• State Licensed Health Insuring Organizations
• Self-funded Employee Benefit Plans

The policies offered by State Licensed Health Insuring Organizations vary in their terms and level of coverage.

Self-funded Employee Benefit Plans are subject to Federal Law and are sponsored either by an employer or employee organization. The “plan sponsor” either enters into a contract with a third-party health benefit administrator(s) or directly with an HMO.

Read about a few health insurance tips on Future Years before you decide upon a health insurance that suits your needs best.

Health Insurance Acts

COBRA and HIPAA are health insurance acts that ensure that you and your family continue to receive healthcare coverage, provided to you by your previous employer, for a certain time after leaving or losing your job.

Long Term care Plans

Long-term care involves assistance with most or all of your daily activities. Long-term care is delivered either at one’s home, continued care homes or nursing homes. An individual qualifies to start receiving benefits from a long-term care plan if he/she fails to perform a set of “Activities of Daily Living” or damages his cognitive power due to dementia or Alzheimer’s disease.

Also, read about the challenges faced by the US health care system on Future Years.