What Are The Advantages And Disadvantages Of Life Insurance

Health care insurance in the U.S. is extremely competitive and not always fair. Recently in 2012, The Affordable Care Act passed by Barack Obama set new regulations regarding insurance. According to this Act, employers of 50+ employees must offer health insurance, public health insurance such as Medicare and Medicaid was made affordable for those that qualify, it is illegal for anyone to be denied insurance due to pre-existing conditions, and everyone must have health insurance or they will endure tax penalties. For Medicare and Medicaid, each state has different qualifications regarding eligibility. Private health insurance is not mandatory, but many of those that can afford it prefer it because it will cover more than any government insurance. Private health insurance also offers family plans along with single plans(varying from company to company), which will definitely attract middle to high income families. Health insurance is an absolute essential in the U.S. as it is up to the citizen to obtain one that works for them.

2. Why did Carl save up his money? What does this tell you about Carl?

Clients who need insurance the most would be an enourmous cost to the insurer since the clients would spend the insurance money. The price of insurance would then increase which would reduce the number of people who believe that it is worth it. Costs will rise in order to prevent the insurance company from collapse, and the individuals who are most likely to get sick stick to the policies of the insurer. The problem with public insurance would be the fact that everyone has to pay for the insurance because adverse selection would be present without

Half of the uninsured are in families where the head of household has a full-time job. Not only is the number of uninsured growing, so too are the ranks of the underinsured. About 29 million people in this country with private insurance are at risk of financial disaster in the case of serious illness or injury. This number increased by nearly 50% in the last decade. Denial of coverage for pre-existing conditions is a common practice by insurance companies whereby the insurer refuses to provide coverage for already-existing conditions such as asthma, diabetes, heart disease or cancer (if they have been treated and are not currently active). The Affordable Health Care Act has helped prevent this from happening

Patients with private health insurance whether they are admitted to a public or private doctor's facility may pick their own particular specialist, provided with a specialists practising rights at the clinic. Waiting time for elective surgery are lower in private health centres. Patients with private health insurance who choose to be dealt with in an open doctor's facility may pick their own particular specialist as opposed to be allocated a clinic specialist, however private health care insurance does not cover them for "additional items”, for example, a private room and obviously the specialist must have visual rights to that doctor's

Some of the reasons some of the individuals may not want to buy health insurance the deductibles and premiums are very high and you pay way to much money for it. You also have to qualify for private health insurance.

Private care is care that is paid for and isn’t funded by the government. People go private to get things such as scar deduction, moles and lumps removed or operations that they don’t want to wait a long time for.

The United States’ access to health care services is limited. Access is granted only to individuals who have health insurance through their employers, (market justice), or are covered under a government health care program, (social justice). Some can afford to buy insurance with their own private funds and can pay for services privately (Shi, L. 2010, pg. 16).

| Most American receives their health coverage through the private insurance market, usually through their jobs. Many people buy insurance on their own in the individual market. Since coverage from private companies is the largest surge of insurance for Americans it is likely to be a central part of federal and state health reform efforts. Private health coverage is a mechanism for people to protect themselves from the potentially extreme financial costs of medical care if they become severely ill,

The Australian health care system is not a very complicated one, it is solely based on two main sectors which are the ‘public’ and ‘private’. The public sector allows one to claim health care benefits and payments through the universal health coverage developed by the Australian government, called Medicare. Medicare is completely free and paid by the government through income tax received to help pay for medical, optical and hospital care (Humanservicesgovau, 2016). It also has a sub-division called the ‘Medicare safety net’ which is more so given to those on significantly low incomes to aid in financial distress. Similarly, the private sector is made up of different companies entitling different benefits, usually consisting of two plans, ‘hospital’ and ‘generic’ (Privatehealthgovau, 2016). The private health care system is more so for people who need immediate attention as the public health system has a waiting list for many different types of operations. Private health system is also customisable in circumstances such as

In Great Britain many employers offer private health-insurance plans to workers. Private health-insurance serve as a perk. Although this is in option only small percent chose to have their medical treatment privately.

Health insurance is important as it allows people to receive health care. However, health insurance providers are not equal, which result in an unequal quality of care. Private health insurance leads to an increase quality of health care. This is show in the article “A National and State Profile of Leading Health Problems and Health Care Quality for US

Someone without health coverage are less likely to receive preventative care and therefore more likely to become ill which increases medical costs, [1].

Moreover, the benefits of expanding coverage outweigh the costs for added services. [4] Safety-net care from hospitals and clinics improves access to care but does not fully substitute for health insurance. These findings are supported by much research, although some cautions are appropriate in using these results. People with health insurance are protected against uncertain and high medical expenses and are more likely to receive needed and appropriate health care. In addition, having health insurance is associated with improved health outcomes and lower mortality, so employees with health insurance are more likely to be productive workers. You do not pay income tax on health insurance benefits so it is more valuable per dollar than the same amount in taxable pay. [5]

The United States (U.S.) has a multitude of options for health care coverage. People have the option for private or public coverage. One example of public coverage is Medicaid and an example of private coverage is Blue Cross and Blue Shield (HCSC, 2015). There are many differences between each health care option, the biggest difference is the price you are paying. This paper will discuss the differences between private and public health insurances as well as the cost for each.