Personal Health Insurance Analysis

Life, especially in our difficult time, is full of surprises. Person may be the victim of a catastrophe or robbery, suddenly fall ill, due to changes in market conditions, calculations may not be justified entrepreneur for profit. In these and many other cases, there is a need to per-protect themselves from their malicious consequences or reduce them to a minimum. Insurance is one of the oldest categories of social-industrial relations. The scale of development of the insurance market in individual countries of the world largely characterizes the degree of development of the economy and society, the degree of development of their relations at the international level. The United States has a widely developed insurance system. Insurance is carried out by numerous insurance companies (there are several thousand of them in the USA), and the types of insurance services are extremely diverse. Analysis of the US insurance market is quite relevant and is of scientific and practical interest.Personal Health Insurance Analysis Paper

The medical insurance is for reimbursement of expenses related to the services of doctors, surgeons, and anesthetists, including visits to doctors in the hospital. Payments on this insurance are also limited in time and amount. My current insurance is offered by Blue Cross Blue Shield Association. I received it through my school district. Personally, I must pay seventeen dollars per month, no premium $855/year. This is a gold plan that assumes certain deductibles (“How Are Bronze, Silver, and Gold Plans Different?”). For example, twenty dollars per doctors, seventy dollars per hospital and, separately, forty dollars per dentist. The gold plan is differentiated from the other plans by the amount of coverage. It is almost full (about eighty percent). This insurance plan means the higher monthly payments, but lower out-of-pocket costs. A minimum amount percentage of health care costs (that is each metal tier to cover) is required by the Affordable Care Act (Irvine et al.). Therefore, if it is eighty percent, a person should pay only twenty dollars of health care costs. The insurance company Blue Cross Blue Shield will pay the rest amount. By summarizing the mentioned above payment, it is clear that given sum of a stipend ($250 per month) towards the purchase of the own health coverage (for yourself and the dependents) is quite enough amount to afford it.Personal Health Insurance Analysis Paper