Types of Health Insurance

Identify and describe the three main types of health insurances in the U. S.

The three main types of health insurance are Voluntary Health Insurance, Social Health Insurance and Public Welfare Health Care Programs. Voluntary Health Insurance (VHI) is also known as private health insurance. It made up of Blue Cross and Blue shield, private or commercial insurance companies, and Health maintenance organizations. Private health insurance was a source of financing for personal healthcare expenditure. Private health insurance was stared as coverage for hospitals and physicians services.

Social Health Insurance (SHI) includes workers compensation, Medicare and other special groups. Social health insurance is not a charity but instead an entitlement program. The funds for the programs are from payroll taxes. Therefore when a worker retires, becomes disable or is hurt on the job, then they are eligible for SHI.

Public Welfare Health Care Programs- Medicaid, Medicare, and SCHIP are funded by federal, state and local government. The health care of an elderly or the poor is either funded by Medicare or Medicaid. There are guidelines on who can qualify for any of these programs. Also they vary by states. Millions of Americans are sponsored through these programs for healthcare, food and shelter. Medicare and Medicaid are the majority of insurance being used by the elderly and the poor in the U.S. Medicare provides a variety of hospital, physician, and other medical services for elderly people 65 and up, Disabled people and end stage renal disease victims. Medicaid is a federal and state funded welfare program designed to help poor people with healthcare.

Describe the three methods for categorizing health insurance in the U.S.

The first method used to categorize health insurance in the U.S. is according to many combinations of products. The health insurance is a combination of true insurance against illness and employee benefits such as medical, dental, vision,...