Essays on Deductibles

While many provisions of the Patient Protection and Affordable Care Act have been considered necessary for the safety and health of all uninsured Americans over Obama’s presidency, one that may often be overlooked but is considered to be crucial is located in Subtitle B: Immediate Action to Make Coverage Affordable and More Available. Within Subtitle B, Section 1101 ensures immediate access to insurance for Americans who have a preexisting condition, which has been considered anything from a previous cancerous condition, to having flat feet . When initially enacted, the provision allowed for a temporary insurance program to be put ...

Introduction

Healthcare is an integral part of a nation’s well-being. Despite its importance, there has been an increasing trend in the costs of health care. With the current high national debt, health care reimbursement should be part of the equation ("Healthcare Reimbursement | Knowledge Hub | athenahealth", 2016). The policy makers, physicians, and patients are well aware of the steps they need to take to reduce the costs of health care by considering health insurance plans. The insurance policies enable the doctors and other health practitioners to provide quality and efficient health care to the people. Health insurance payers are provided ...

          The health care delivery system in the United States is unique when compared with delivery structures in other developed countries. In most developed nations, the government manages the national health insurance programs. These programs are financed through taxes collected within the country. Approximately all the citizens of such nations are entitled to insurance services paid by the government (PAHO, 2014). In America, such an insurance policy does not exist. There is a slight difference in the health care structure of various states in the country. This paper is set to analyze the health care structure, compare, as well as ...

Medicare part (A) covers skilled nursing facility, hospice, home health facilities homecare, nursing home care and inpatient hospital care (Hess, 2012, p.560). Medicare part A will normally recompense for the charges during the first sixty days after one pays the deductibles.

Medicare part A willfully cover Mrs. Zwick’s impatient hospital care for the five days stay. It will cover fully the cost of the first 20days, and partially the cost of the 21st day. It fully covers the homecare services as well. This premium will cater for Mrs. Zwick’s medical expenses while at the skilled nursing facility ...

The need for an insurance plan is necessitated with the need to have timely and proper medical care in the event of an illness or an accident. In this respect, there are three basic types of health insurance medical plans that are utilitarian in serving different purposes. These health insurance medical plans can be differentiated from one another with regards to their salient features. This paper canvases the differences between Preferred Provider Organization (PPO), Health Maintenance Organization (HMO) and Point of Service (POS) plans. The paper also seeks to institute some of the pros and cons of the above ...

1. What is the role of congress in policy making process? A policy is defined as a course of action that is established by the legislature, executive or the judiciary to influence the behaviors and decisions of the citizens in a federal state. Policy making process is not a monopolized affair and, therefore, involves decisive interactions among all arms of the government and the public participation. The congress and the President participate mutually in the legislative roles to a greater extent. However, their roles are made distinct at some point. The Congress is mandated in Law making, representation of the citizens as ...

Introduction

Good health is critical for living a good life and for this reason; people demand access to healthcare services that can help maintaining it. There are number of countries in America who have responded to political manifestation of this demand by assurance of access to healthcare services. Often times, even if the policies for the access of healthcare services are defined, still they are vague and State is unable to comply this requirement. Most Americans have good standards and policies to access healthcare services. It enables those taking full benefits of the State’s healthcare system. Others have to ...

Part I

High deductible health insurance plans require health care consumers to pay for their care until they reach a deductible amount. These deductibles have a powerful effect because they can discriminate which will make patients skip care. It will make Americans unhealthy and sick. High responsibility of copays and deductibles will see many patients not receiving the required care. There are several types of insurance and consumers need to choose the insurance that suits them. When selecting employer sponsored or private health insurance, people should focus copayments and the annual deductible that a person will be making (Thorpe & Ogden, 2010). The cheapest ...

My dentist friend of mine reduced her work hours recently. As one of the highest paid professionals in USA, I wondered why anyone would reduce work hours while they can actually mint. She explained later that she is too tired of the legality of practice, facing constant threat of patients suing and the amount of paper processing for each patient. It is a revelation for me. I never perceived that this could be a deterrent to the doctors. The more I dwell into it the more I realize that there is a lot unsaid in the silence of the nurses and the ...

At an individual level, I would be inclined to retain a number of elements of the German health care system. The nation boasts of a very low infant mortality rate and inexpensive health care compared to the United States. For instance, I would seek to retain the universal health care for all citizens to ensure that all are catered for whether poor or rich. More so, I would ensure that I retain the current proportion of citizen’s income as premiums of insurance. Germany currently charges only 8 percent of a worker’s gross income to a non-profit insurance firm known as a sickness ...

Part I

1. Time value analysis is the concept implemented when there is a necessity to identify future value of one unit of a currency supposed to be received in several years or the amount of money supposed to be received in future from one unit of currency invested today. The basic concept of time value of money analysis is that the value of alternative investments depends on the time when they will be exchanged. Interest rate may not cover inflation rate contributing to the differences between the present and future values of investments (Khan Academy, 2013). Time value analysis is a tool ...

Introduction

There has been an increase in the demand for security. Nowadays, a sense of security may be considered as the next basic goal after the basic items which include food, shelter and clothing. Majority of the people requires economic and health security. A person with economic security will be able to satisfy the basic needs in the present and future. Economic risk refers to the probability of losing economic security. Historically, economic risk was managed through making informational agreements between the parties concerned. The insurer would compensate the injured party. The pooling concept was later formalized in the insurance industry. ...

Abstract

In leiu of the various reforms and proposals being undertaken to rehabilitate the ailing health care industry in the United States and elsewhere, this paper presents the benefits and advantages of succumbing to one excellently managed system of health care delivery – through a managed care health insurance plan. It is the best proposal to reform the already cost-burdened health care system of the country. This is due to the fact that with the insurance system, the government is able to reduce its spending and save trillions of money through the unification of the government sponsored Medicare and Medicaid with the ...

Auto and health insurance companies can be viewed as the same since both give a level of protection against unintended accidents or injuries and health problems that could occur to an individual or family. The goals of both ends are similar. They offer protection. Many aspects of the industry operate under similar guidelines, but the way they are governed are not always the same. Both contain terms like benefits, and rights and deductibles in their vocabularies, but they are not always used exactly the same. Auto insurance is a privilege, since driving is a privilege. It is not a right and a person ...

Proposals to reform existing healthcare policies to reduce costs of healthcare services:

1. Increasing co-payments, co-insurance or deductibles

Summary

Increasing co-payment, co-insurance and co-deductibles means increasing the fixed medical fees paid by the individual in addition to what his insurance covers on a percentage basis. (Health Insurance Resource Center, 2012) Woolhandler, et. al. (2003) suggests that this reform is a crude method of matching health care services with health needs. They posit that sharing the expenses deter the patients from seeking medical care, such as effective medical treatment. Bartlett (2009) argued that designing a new health system must not only deter its costs through co-sharing without damaging the quality of health care available. This implies ...

Tax Deductibles and Tax Interests of Home Mortgage

Owning a home sounds more of a dream come true, but the dream shatters upon knowing how much you need to pay on your mortgage, not to mention the amount of interest that needs to be paid as well. However there are ways on how to save money by knowing how to calculate the deductibles and versus the tax interests. Being knowledgeable on that area will allow home owners to identify the amount of money they need to cut out of their paychecks. First is to define what tax interests are all about, it was introduced in 1913 together with the ...