When it comes to getting health insurance, there are two basic categories: policies from privately owned insurance companies and government-funded policies, which are also referred to as public policies. Government-funded policies include Medicaid and Medicare, while policies from private companies are the types of plans that are purchased by individuals and offered by employers to their employees. Private plans are the most common.
Private Health Insurance
According to the Centers for Disease Control and Prevention (CDC), the United States healthcare system is very reliant on this type of insurance. The CDC states that 58 percent of Americans are covered by some form of private health insurance providing a wide range of coverage options and offered by a wide range of sources.
Private Insurance by Employers
When private insurance is offered through an individual’s job, coverage plans for employees are typically dictated by the employer. This is because the insurance contract exists between the employer and the insurance agency, meaning that the employee who receives coverage will not interact or negotiate with the insurance company itself. If your employer offers health insurance, be sure you’re well-versed on the nature and scope of your coverage so that you’re prepared in the event of an emergency.
What Is Medicare?
Medicare is a type of government-funded, or public health insurance that’s available for Americans age 65 and over. Medicare is also available for those with certain types of disabilities, who may or may not fit into the 65-and-older age bracket. Medicare consists of two major parts: Part A, which is allotted to hospital insurance and receives financing through federal taxes, and Part B, which offers supplementary coverage with a monthly premium.
What Is Medicaid?
Medicaid is another type of public, or government-funded health insurance. This program is typically geared to serve low-income families and individuals who have difficulty affording private insurance policies. Medicaid is jointly funded by U.S. federal government in conjunction with the individual U.S. states in which the programs are run. Due to the joint nature, the federal government establishes guidelines on a national level.
Individual states are permitted to establish their own regulations as well, such as:
- Eligibility requirements
- Type of coverage available
- Duration or policies
- Scope of services available
- Payment rates
- Administration of the program
If you’re in need of health insurance in the South Charlotte area, call us today at 704-527-4220 to learn more about your options.