Private Health Insurance
Table of Contents
Employer-sponsored health insurance is provided by employers to their employees. Employers can either use private companies for administration purposes or pay costs incurred by employees directly to the hospital. Employers normally pay a larger portion of the premium while employees pay the remaining smaller portion. Its coverage varies depending on individual insurance plan.
Individual Market
Individual Market health insurance covers self employed, the elderly, and those who are not insured by their employees. It is normally run by private insurance companies and can at times not allow a person to be covered, when he has not fulfilled some requirements. Individuals use their own money to cover themselves, but the amount differs depending on one’s’ health status. Those, whose heath status risks are high, pay more premium than those whose health status risks are low. The benefits for this health insurance vary according to the agreement made between individuals and the insurance company. Individual Market insurance is generally expensive and mostly attracts those with high income. It leaves many low income earners and the poor uninsured.
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Uninsured
Whereas there are many health insurance schemes in the United States, many people are still uninsured. This is mostly seen in families with low income and those whose work places do not cover their employees. Most people with low income are uninsured, because the insurance rates are too expensive for them. They can neither be insured by their spouse’s income nor can they make it by themselves. The individual market insurance is far more expensive for them that they do not even think of joining.
The poor are also most likely to be uninsured. This is because they cannot afford the high costs of medical insurance. The almost-poor are less likely to qualify for public health insurance and employer based insurance, therefore, a large number of them are not insured.
The location one lives also determines whether he can access insurance or not. States with high number of low income earners receive more share of public health insurance funding than those with high income earners. The number of employed in a State also determines whether the state will have access to health insurance or not. States with many employed people are most likely to have their residents sponsored by their employers.
People from minor race or ethnic group are more likely to be uninsured. This is because most of them are likely to be working for low income. Same applies to women. Majority of them are not insured, because they can either be not capable of paying for their own medical cover or they are not illegible for the Medicaid. Medicaid only covers those whose income are low, are above sixty five years of age, are physically or mentally challenged, or are expectant (Sridhar, 2005). These conditions leave many women uninsured.
Due to many eligibility conditions to be fulfilled, high premium prices, and high number of uninsured, there should be affordable universal health care coverage for every the United States` citizen. This should be made in a manner that allows citizens to choose the policy that suits them just like in other insurance policies, such as those in “automobiles” (Garson, 2000). Both the government and private sectors should work together and come up with basic health insurance policies that fit every citizen whether employed or unemployed. The government should actively be involved in the process since it is the law-making body. Once the health laws are made, the government should assist in enforcing them. It should also assist in donating funds to the developed health policy.
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Conclusion
The United States health care system is insured both by public and private; private insurance is dominating the health insurance industry. Whereas the government and private insurance companies strive to cover people, most of the U.S. citizens are still uncovered. This is due to the high premium charged on the health insurance schemes and many illegibility criterion to be met before one becomes insured. A comprehensive health insurance policy that suits all the U.S. citizens should, therefore, will be developed by both the government and private sectors.
