Medicare Vs Private Insurance

Words: 899
Pages: 4
Open Document
Although Medicare is only available for individuals that are 65 years or older and disabled patients, when compared to private insurance companies there are several similarities. Throughout this paper we will discuss the different types of Medicare and some examples of private insurance policies, while exploring how they work together. It is important for every nurse to have a basic understanding of Medicare compared to a private insurance plan so that they can educate their patients about needed medical coverage and covered procedures under their plan.
Medicare Verses Private Insurance When discussing insurance options for an individual there are four different categories to be considered: a private individual health plan, an employer …show more content…
Medicare is a federal insurance program for people who are 65 years of age or older, patients with end stage renal disease, or people who are disabled. There are several different categories of the Medicare program. Medicare Part A includes coverage for hospitalizations, skilled nursing facilities, hospice, and certain aspects of home health, while Medicare Part B covers doctor’s services, outpatient care, medical supplies, and preventive care. In addition to part A and B, Medicare also has a part C and D. Medicare Part C, also known as Medicare Advantage Plan, is contracted through private insurance companies to provide the individual with the Medicare Part A and B benefits for a fee. Last of all, Medicare Part D provides prescription drug coverage to patients. Although Medicare Part A is entitled once you become 65 years old and you or your spouse paid taxes into the Medicare program for at least 10 years, Part B, C, and D requires a premium to be paid just like a private insurance provider. Medicare should not be confused with Medicaid, in that Medicaid is a government funded program that provides health care coverage to the low-income …show more content…
Private insurance is usually expensive if not provided for through an employer and typically covers 70-80% of the health care cost depending on the patient’s plan. Private insurance resembles Medicare coverage, in that, both insurances only pay a specific portion of the cost and the patient is responsible for the remainder. Both Medicare and private policies allow the individual to have more than one provider. For example, if the individual is a Medicare recipient and their spouse has a family plan through their work. The employer-sponsored plan will be considered the primary insurance and Medicare will be the secondary. Depending on the plan, the primary insurance may pay 80% of the claim and the secondary will cover the remaining
Show More

Related Documents: Medicare Vs Private Insurance

Essay on Egypt Healthcare

United States Healthcare vs France Healthcare Americans spent 17.9% of their gross domestic product on health in 2010 while France spent 11.9% of it on the same year on health (according to the World Health Organization). The lower level in French spending demonstrates a better efficiency of the system. There is no unique public insurance organization like in France. According to Reinhardt, only 10% of the French population has a private health insurance. French health-care system are universal…

Words 552 - Pages 3

Canada's Universal Healthcare System

Introduction Health care is a human right that everyone deserves. The Public vs Private healthcare debate, is a discussion that’s been going on for years. Private healthcare, in low and middle income countries are sometimes deemed more sustainable, accountable and efficient than public healthcare. However, public health care is perceived as a more universal system, that benefits the mass population. Canada’s current healthcare system operates under a public system, funded by the provincial government…

Words 1208 - Pages 5

Chapter 03 Essay

Mosby, an imprint of Elsevier Inc. The Patient Protection and Affordable Care Act (PPACA)  New health care federal reform law signed in 2010 requiring the largest change in the financing of the American health care system since the enactment of Medicare and Medicaid     Designed to address the issues of affordability, accessibility, and financing of health care Focus efforts on meeting the needs of vulnerable populations US Supreme Court upheld the ACA in June 2012 Will be fully enacted by…

Words 1768 - Pages 8

History Notes Essay

America -Insurance premiums and co pays are too high and limits for patients with preexisting conditions are numerous; insurance industry is fairly unregulated and has monopoly on setting the rules of the game on who and how they cover. -50 million Americans remain uninsured, with elderly, students/young, and workers in low paid or part time jobs that offer no health insurance benefits most affected. -We do not have a public health option that would offer a choice aside from private care, just…

Words 1148 - Pages 5

US Healthcare Reform

national levels. Republicans protect private interests, promoting the view that healthcare should be a privilege, and quality should be preserved over expansion. Democrats champion reform, seeking to expand single-payer networks, and promote healthcare as a moral right for every citizen. The main tension in the reform debate is that the expansion coverage through a single-payer system leads to higher government expenditures and lower quality of care, while private insurers leave many Americans uninsured…

Words 2910 - Pages 12

Research Paper On Check

and services Gross Pay vs. Net Pay Gross pay: the total amount that an employee earns before taxes and other deductions Net pay: the amount of money you will get to have once taxes are taken out of your check Differences between gross pay and net pay Payroll, federal, and state taxes Employees complete the W-4 Social Security Retirement benefits Benefits for the dependents of retired workers Benefits for the disabled and their dependents Medicare Tax Benefits for certain individuals…

Words 437 - Pages 2

Moroccan VS American Health Care System2 Essay

Uslu Date: 2/1/2015 Moroccan VS American Health Care System The health care marketplace suffers from numerous inherent deficiencies, which have encouraged government intervention in both the United States and Morocco. Over the past several years, the provision of medical services has gradually become state’s responsibility in developed nations, excluding the United States. Unlike the Moroccan health care system, the United States medical care system remains largely private. The popularity of free market…

Words 1026 - Pages 5

Health Care Systems Essay examples

Health care systems Canada vs. United States Tina Dotson Instructor: Linda Troxler July 8, 2013 Canada vs. United States Health care is a large issue in all countries, not just the United States. No matter how hard each country does to establish a successful health care system, no coverage is perfect. There are pros and cons with all of them. There are about 200 countries on our planet and each country devises its own set of arrangements for meeting the three basic goals…

Words 2361 - Pages 10

A Career In Healthcare Administration

couldn’t because first they had get the authorization from the workers compensation and the admin was having difficulties getting to his insurance company and the process was really slow and as a admin she had to think and act fast because it was about saving someone’s life. This article gained my knowledge about how can Healthcare administrators have to deal with insurance companies as well as the billing and financing for the people who have hard time paying the medical expense since medical cost are…

Words 948 - Pages 4

How to write a "Hello World" program in Java Essay

reform, there are also significant obstacles, including uncertainty over how to pay for access expansions and partisan disagreement over a proposal that the uninsured (and perhaps those with private insurance as well) be offered the option of enrolling in a new publicly-administered health insurance plan. Perhaps due to the speed of the current debate, however, federal policymakers have largely ignored two issues critical to the implementation of any new legislation: first, how will new…

Words 8152 - Pages 33