Consumer and Provider Costs
Alice Wyatt-Larry
MHA/516
Humberto Munoz
10/08/2019
Article
Impact of Federal/ State HealthCare Policies
Due to individuals having different income levels, some with more income and some with less income mean that everyone won’t have to pay the same amount for healthcare insurance. Certain procedures can affect an individual’s monthly insurance premium such as monthly payment, the number of people your plan covers, the plan type and or size of the network. Some people pay more for their insurance deductible than other. Health care insurance deductibles must be met each year before insurance will start paying. Most people obtain all or a portion of their health insurance through their place of employment, through their retirement plan and or out of their pocket. In twenty ten, Affordable Care Act (ACA), made health care insurance affordable and widen care access. This law was set in place to reduce the number of individuals without insurance and help them gain access to health care (Rand.org, 2019). Plan’s with a high premium usually offers a lower deductible. However, low income individuals can’t afford to pay high premium to get a lower deductible. You’ll pay more each month, and the plan will start sharing the costs sooner because you’ll reach your deductible faster.
Positive/Negative Effects
Health care insurance premium is developing insurance policies with a high-deductible and networks that is narrow. High deductible policies require individuals to pay more out of their pocket. Deductible can range from five hundred to five thousand dollars; this could be a problem for low income individual. I pay a higher premium each month and my deductibles are usually low. In 2016, I had my right knee replaced because of old injuries playing sports in school and in 2018, I had to have the same knee revised due to faulty implant. Because of my monthly premium costing a little more each month, doctor office visits and paying for my prescriptions, I was able to meet both surgeries deductibles without paying more than I could afford. When individuals must pay out of their pockets for their healthcare due to no insurance, their health may suffer because they can’t afford to pay for their health care treatments.
References
BCBSM. (2019). How Does My Deductible Impact My Premium? Retrieved from https://www.bcbsm.com/index/health-...h-insurance-works/understand-deductibles.html
Rand.org. (2019). Healthcare Reform The Future of U.S. Health Care: Replace or Revise the Affordable Care Act? Retrieved from https://www.rand.org/health-care/key-topics/health-policy/in-depth.html
Alice Wyatt-Larry
MHA/516
Humberto Munoz
10/08/2019
Article
Impact of Federal/ State HealthCare Policies
Due to individuals having different income levels, some with more income and some with less income mean that everyone won’t have to pay the same amount for healthcare insurance. Certain procedures can affect an individual’s monthly insurance premium such as monthly payment, the number of people your plan covers, the plan type and or size of the network. Some people pay more for their insurance deductible than other. Health care insurance deductibles must be met each year before insurance will start paying. Most people obtain all or a portion of their health insurance through their place of employment, through their retirement plan and or out of their pocket. In twenty ten, Affordable Care Act (ACA), made health care insurance affordable and widen care access. This law was set in place to reduce the number of individuals without insurance and help them gain access to health care (Rand.org, 2019). Plan’s with a high premium usually offers a lower deductible. However, low income individuals can’t afford to pay high premium to get a lower deductible. You’ll pay more each month, and the plan will start sharing the costs sooner because you’ll reach your deductible faster.
Positive/Negative Effects
Health care insurance premium is developing insurance policies with a high-deductible and networks that is narrow. High deductible policies require individuals to pay more out of their pocket. Deductible can range from five hundred to five thousand dollars; this could be a problem for low income individual. I pay a higher premium each month and my deductibles are usually low. In 2016, I had my right knee replaced because of old injuries playing sports in school and in 2018, I had to have the same knee revised due to faulty implant. Because of my monthly premium costing a little more each month, doctor office visits and paying for my prescriptions, I was able to meet both surgeries deductibles without paying more than I could afford. When individuals must pay out of their pockets for their healthcare due to no insurance, their health may suffer because they can’t afford to pay for their health care treatments.
References
BCBSM. (2019). How Does My Deductible Impact My Premium? Retrieved from https://www.bcbsm.com/index/health-...h-insurance-works/understand-deductibles.html
Rand.org. (2019). Healthcare Reform The Future of U.S. Health Care: Replace or Revise the Affordable Care Act? Retrieved from https://www.rand.org/health-care/key-topics/health-policy/in-depth.html