Don’t Get Caught Without Health Insurance Know the Facts

When it comes to preparedness, health insurance will always be your very best bet. Because one cannot easily determine when he or she will need medical help, having a trusted health insurance program will be quite helpful in covering the costs of treatment and attention. There are many factors you have to consider before registering for a health insurance policy. Since there are various sorts available, one needs to carefully assess his needs and additionally manage his budget.

What would you need to know about health insurance? How can this help you and your loved ones in times of need? Read on to learn about fascinating facts about policy and policies, which means that you are able to make the informed decision when purchasing health insurance for you and your loved ones.

In the USA, it’s been reported that almost 45 million Americans have no kind of health insurance at all. This accounts for approximately 15 percent of the population as of this year 2006. As stated from the Centers for Disease Control and Prevention (CDC), one of the total population of Hispanics, 32 percent were uninsured. That is compared to 19 percent of all African-Americans, and 10% of whites who do not have health insurance policy. Group Benefits | Employee Benefits | GMS Benefits

Of all the uninsured persons in the USA, about 7 million were minors, under the age of 18. This accounts for approximately 10 percent of the country’s under 18 population, as reported by the CDC. According to the health insurance policy suggested by President Barack Obama’s government, about $87 billion of government funds will be allocated to the development of state insurance plans, as well as the SCHIP, or the State Children’s Health Insurance Program. This may expect to reduce the number of children in the nation by up to 72 percent, giving minors opportunities for health care. Group Benefits | Employee Benefits | GMS Benefits

More about the uninsured: the proportion of the population ages 19 to 64 (non-elderly) don’t have health insurance? The Kaiser Health Foundation reports that approximately 20 percent of adults in this age group are without any kind of health insurance, as of the year 2007. Which countries have the greatest number of uninsured adults? The website reports that New Mexico and Texas top the record, with roughly 30 percent of men and women in this age group without health coverage. On the other hand, Massachusetts has adults, which only include about ten percent of the entire age group.

Which states have the highest number of uninsured children, who are from ages 0 to 18 years old? Since the Kaiser Health Foundation statistics demonstrate, Texas has roughly 22% of children with no health insurance. Massachusetts has a minimum percentage within this class, with only about 5% of children without health care.

According to the Insurance Information Institute (III), roughly 34% of the state has it’s very own private health insurance plans, while nearly half of the populace rely on government-funded insurance programs. To be specific, 19 percent are from other select insurance companies that are public below another 12 percent, 15 percent under SCHIP and Medicaid, and Medicare.

The National Association of Insurance Commissioners reported in 2007 the insurance companies who’ve written the most premiums as of that year. Topping the list were UnitedHealth Group possessing 11.7 percent of the market share, and WellPoint Inc. Group, with 9.75 percent of the market share. Kaiser Family Foundation follows in third with 7.7 percent market share in that exact same year. Among the earliest health insurance providers in the country, Blue Cross, is on the list, together with roughly 1.72 percent of this market share.

When comparing individual insurance plans and group insurance plans, you can expect to save if you buy multiple coverages. But, according to a few people who select policies that are individual, they are able to tailor their plans to be in tune with their specific health needs. You can learn more about the pros and cons of these two kinds of health insurance when you talk to an insurance broker.

During the economic downturn in the United States, there have been countless individuals who have become jobless. Thanks to this new administration and the initiatives of President Obama, these employees can still reap the benefits of the health insurance programs, since the government plans to take $25 billion. These will cover for as much as 65 percent of every worker’s health insurance premiums, according to a report by Reuters. GMS

Speaking of job, the insurance industry is responsible for contributing to the number of jobs available for people in the United States. In two of the countries in the nation, hundreds of thousands can find work through numerous chances. In California, roughly 300,000 workers are in the insurance industry, while in Texas, the figure has reached above 216,000 as of 2006. Other states are Florida, New York, Pennsylvania, and Illinois.

According to the Health Insurance Association of America, the Franklin Health Insurance Company from Massachusetts was the very first company to offer accident insurance, and this was in the year 1850. In this time, these policies were made available to employees of railroads and steamboats, who were prone to injuries. In a few decades, more organizations started to offer this kind of insurance policy.