Medical Insurance And Different Types Of Coverage

2282 words - 10 pages

Are you aware that many Americans do not have medical insurance coverage? The recent passing of the Affordable Care Act, mandates that Americans must have an insurance policy that provides minimum essential coverage. Because of this, many Americans have been looking into different types of healthcare coverage. Insurance companies can tailor a customer’s health insurance plan so that it meets their specific health needs, and budget. Good coverage, however, does not come cheap. The customer will typically get what they pay for. Many different types of healthcare insurance offer different types of coverage, such as premium cost, prescription costs, and co-pays for emergency visits.
When a person choses a health insurance plan, they have to pay a premium cost. Premium costs are the amount of money charged by your insurance provider for your insurance plan. These costs can be paid in a number of different ways. Most people can pay these costs either annually or monthly. This would depend on what payment options the insurance company offers. Annual premiums are the amount total amount that must be paid every year on the date that the policy begins. Annual premiums are sometimes also known as single premiums, because you only pay it once a year for the policy. This option may be good for customers who are able to afford a large, lump sum cost. The annual premium cost is different for either single person coverage or family coverage. According to an NBC News report, in 2013 “Premiums for the average family plan topped $16,000 for the first time” (Appleby, 2013). That same report also included the 2013 average for single person plans “The average cost of a single employee’s insurance premiums rose 5 percent, to $5,884” (Appleby, 2013). The other option to pay for health insurance is Monthly Premium costs. With monthly premiums, a customer will pay a monthly bill for their insurance. The bill must be paid on time, or the customer may risk having a lapse in coverage, meaning they may be without insurance. Again, the costs differ depending on whether the policy is for a single person, or a family. “The average cost of health insurance in the United States is approximately $411 per month for individual coverage and approximately $1155 per month for family coverage” ("How Much Is Average Health Insurance per Month?”, n.d.). As you can see, monthly premium costs can also become expensive. Premium costs are not the cost associated with health insurance. Healthcare coverage commonly has other annual costs. The most common annual cost is called an annual deductible. It works in the same manner as a deductible for damages to an automobile. Deductibles are paid in addition to the premium cost. You pay the premium cost to keep your insurance coverage, but when you use health care services, you must pay your deductible before your health insurance begins to pay. “The average deductible was $2,086 for a single person and just over $4,000 for a family”...

Find Another Essay On Medical Insurance and Different Types of Coverage

Complete Guide on Canadian Travel Insurance – Coverage Options and Tips

741 words - 3 pages exclusions associated with every Travel Insurance plan in Canada. According to the traveler’s needs and medical conditions the coverage plan gets customized. There are different types of policies to choose from consistent with your own circumstances, like; the trip length, you are in a group or traveling individually, your age, etc. 1. Single Trip Travel Insurance With this policy, the traveler covered for a single trip and it is viable for an

Different types of Bullying Essay

2035 words - 8 pages negative effects socially, emotionally, and physiologically on children. Types of Bullying There are many types of bullying one of them is cyber bullying. Cyber bullying had become very popular now and days. This type of bullying takes place on the internet, via text, or any multimedia device. ‘’Cyber bullying often possesses the absence of these traits and it may be linked to the flexibility of online media, which can lead students to play the

Different Types of Explosives

1312 words - 5 pages Different Types of Explosives An explosive is something capable of exploding or tending to explode. The energy released is used in firearms, blasting, and rocket propulsion. Explosives are substances that produces a rapid, violent reaction when exposed to heat, a strong blow or a special detonator. During the reaction, explosives give off large amounts of gases at high pressure. The powerful blast of energy

Different Types of Supernovas

1052 words - 4 pages supernovas occur in all kinds of galaxies, where Type Ib and Type Ic have been seen only in spiral galaxies new sites of recent star formation (H.U regions). This suggests that Types Ib and Ic are associate with short-lived massive star, but Type la is significantly different. (“Supernovae”) A critical aspect of these models is that they imply that a Type la supernova happens when the mass passes the Chandrasekhar threshold of 1.44 solar

Different Types of Power,

1153 words - 5 pages Power is a relationship between people; to clarify A won’t do what B wants unless B has power. Power is to achieve goals against other people will. Power is the ability or potential to influence outcomes in order to achieve an objective. Different types of power are usually blended together in order to achieve the required outcome. First type of power is Force; Force is the exercise of power by physical means. Force can include Physical

Different Types Of Procrastination

766 words - 3 pages According to the text, procrastination is avoiding the less important things in one’s field of study or interest and paying attention to the more important things pertaining to one’s field of study. For example, if a student is seeking a degree in psychology and has an assignment due, he or she might forgo shopping to complete that assignment. Good and Bad Procrastination written by Paul Graham, with the purpose being about different types of

Different Types of Mushrooms

1438 words - 6 pages Different Types of Mushrooms There are many different kinds of mushrooms. One of the most common of them are Pleurotus Ostreatus (oyster mushroom), Pleurotus eryngii (King Oyster), Agaricus subrufescens (almond mushroom), hypsizygus ulmarius (white elm mushroom or elm oyster), Hypsizygus tessulatus (shimeji), Coprinus comatus (shaggy mane), Lentinula edodes (shiitake), Hericium erinaceus (Lios' Mane), and Grifola Frondosa (maitake). Out of

Different Types of Accents

1369 words - 5 pages According to the American Speech Language Hearing Association, “An accent is the unique way that speech is pronounced by a group of people speaking the same language.” The United States is a country of great diversity and each of us speaks with an accent whether English is our first language or not. An individual’s accent represents the nuisances in how they speak the same language and there are a variety of different accents within each

Different Types of Managers

981 words - 4 pages I have been working in a department store for about 2 years and I have noticed how important the manager role is and how different is one from other. All the results depend in how the manager focuses his/her energy. Management is a complex process; every action needs planning and development; therefore, management is a process of giving an order for activities, then planning, organizing, or controlling, to determine and accomplish objectives

This paper is about different kinds of employee benefits. From health insurance to dental insurance and savings plans.

1078 words - 4 pages The pathologists here at the Jeffersonian institute work very hard and are a necessity that this institute cannot exist without them. Pathologist need employee benefits such as health insurance, time off, retirement and savings plan. They also need a dental plan and long term disability insurance. If the pathologists that are employed here get those items the chance of them staying here for a long time is guaranteed. So this is my

Different types of cheating and foul play, and how

1876 words - 8 pages , reaching a certain point spread in a basketball fix may not require a corrupt ball player to do anything but play a normal game".This quote shows that noncontest cheating is very much premeditated and it is not a spur of the moment act like the one stated earlier.The above examples of different types of cheating show that it is very difficult to determine what is cheating and what isn't.Sometimes athletes and sportsman are guilty of committing foul

Similar Essays

Insurance Coverage Of Contraceptives Essay

1923 words - 8 pages contraceptive drugs and devices be included on their health care plans, as well as any related medical services. These services entitle, annual visits for womens recommended preventive care and services. Although depending on individual state policies, some states allow employers or insurers to refuse coverage of contraceptives based on religious or moral grounds. Other opponents of birth control simply do not think it is worth the rise in premiums if

Health Care And Insurance Coverage Essay

845 words - 4 pages ever bump and bruise that appears on them, but what about those who cannot afford health insurance? Luckily for them a document, The Patient Protection and Affordable Care Act, was signed into law by President Barack Obama so that they may have the same opportunities for coverage concerning their health. It is necessary for everyone to have health insurance to prevent the spreading of diseases, end the depletion of the population due to illness

The Importance And Different Types Of Lightsabers

1124 words - 4 pages incoming blaster bolts, and reflect them back at the firer” (Lightsaber- Info). The idea of a portable weapon that can cut through anything is still far away from becoming reality but there is real science in the lightsaber. To get to the science let talk about how lightsabers works, what a lightsaber is composed of, and the different types of lightsabers and blades. First, there are several different types of lightsabers to choose from. The

Different Types And Styles Of Wrestling

728 words - 3 pages Thesis statement: Free style, Professional, Greko Roman, and Collegiant wrestling have very different rules and styles.I. Free style wrestlingA. RulesB. StyleII. Professional wrestlingA. RulesB. StyleIII. Greko Roman wrestlingA. RulesB. StyleIV. Collegiant wrestlingA. RulesB. StyleWrestling is broken into four different types based on rules and style; Free style, Professional, Greko Roman, and Collegiant. Free style is usually started after