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Health Insurance

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Health insurance is a term used to explain a program which assists in paying medical expenses. The term is common in the United States. It can be through social insurance or privately purchased insurance. There is a high concentration in the United States health insurance market. The top health insurance companies have formed over 400 mergers since mid-1990. By the year 2000, two top health insurance companies had 32 million people as members. In the year 2006, two top health insurance companies namely UnitedHealth and WellPoint had a total of 67 million members. This comprised of 36 % of the nation’s population. There is also a program called social welfare program funded by the federal government. The term health care services or health benefits can be used interchangeably to refer to health insurance. There are several types of medical and non-medical insurance covers. Free-for-service insurance cover is an example of medical insurance. These are medical plans involving an insurance company paying a fixed amount of money for some diseases. The money is an agreed percentage of money paid by the client. Another medical insurance cover is Blue cross and Blue shield plans. The plan engages more than 39 health insurance companies. They provide basic insurance cover for more than 100 million Americans. Health maintenance organization is another example of medical insurance plan. It is mandatory for companies with more than 25 employees to offer health insurance covers to the employees. Managed care is a health program aimed at reducing the cost of health care and improves it. Example of health insurance cover that is non-medical is disability income insurance.  There is also supplemental coverage and long term care insurance programs that are non-medical.

The health care in the United States depends heavily on health insurance. The two common insurance programs are not-to-profit and private health insurances that are available for individuals in the US. Many people do not have health insurance covers. This means that they are unable to have timely medical care. There is a 40 % higher risk of dying in comparison with those that have insurance covers. In the United States, a research carried out in 2004 showed that 45000 deaths were due to lack of health insurance cover. There is a debate in the United States over the possible remedies and causes of low level of insurance membership. The issue is analyzed together with the repercussions it has on the United States healthcare system. When one has an insurance cover, the health insurance company helps to settle the hospital bill. This means that one will not incur a heavy burden of paying the finances. When one has a health insurance cover, he or she is much more likely to visit the doctor for medical attention.

There have been critics for and against health insurance in the United States. There are some reasons that can make an insurance company unable to pay medical bills.  The insurance companies offering insurance cover aim at making a lot of profits. According to study done in the year 2011, by the pro-health reform group indicated an increase in profits. The nation’s largest health insurance companies reported more than 56% increase in profits in 2009 over the previous year. These companies include united health, WellPoint, Aetna, Humana and Cigna. They cover most of the Americans who have health insurance. The health insurance companies face a lot of critics for offering traditional insurance. This involves pooling of risks. This is because many Americans who buy the premiums do face the risks they insure themselves against. It is for this reason that health insurers can be considered to be low-risk money managers. They do gain a lot from long-term healthcare accounts. Other people argue that insurance companies in the United States charge high administrative costs (Harry and Kristina 57). The private insurance companies have a large share in the economy. They have employed more than 470000 people in the year 2004. These costs are making them unable to give complete cover on people of the United States. This has led to the high rate of death cases especially among people who require funds to have a surgery. The insurance industry has attracted weak insurer who are unable to work efficiently with hospital systems. The insurance company has attracted companies who have adopted shadow pricing. As a consequence, the companies are unable to pay for medical bills in hospitals. Many people continue to die every day when these companies fail to cater for their health expenses.

In conclusion, I have a strong opinion that the health insurance companies should support people in paying medical bills. Many people are dying as illustrated. This is due to lack of finances to cater for their treatment. Those people who are undergoing surgeries should be supported by the health insurance companies regardless of whether they have paid or not. The federal government should intervene in this matter. This will help to reduce exploitation of people by the insurance industry. A lot of money go to the insurance companies from both individuals and the government. Most of these companies aim at increasing their profits. They do not get concerned with the health status of people in the United States. However, the whole industry has not failed entirely. Thus, needs a lot of improvements in the industry. I have an opinion that a law should be passed to have an extensive control of the insurance industry.

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