Most American citizens cannot afford to pay out of pocket for healthcare services. For example, if you go to the hospital, you will be responsible for payment for the bed you sleep in, the medications you take, the services provided, and any diagnostic tests. After you leave, you may require prescription medications and follow up appointments. This bill can accumulate well beyond 5,000 depending on the goods and services you require. Insurance companies help to protect you from these expenses. It is important, as Pharmacists, to discuss the different types of insurance and understand how they work, who funds them, eligibility for the insurance, and what makes them different. For our purposes, we will discuss Medicare, Medicaid, State Children’s
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Medicare benefits are intended to lessen the burden of medical expenses for elderly and disabled patients that are retired from the workforce or unable to work. Medicare is funded by payroll taxes payed from income tax, general revenues, and out of pocket expenses paid monthly. To be eligible for Medicare you must be 65 or older, received Social Security Disability Income for 24 months, or have Lou Gehrig’s Disease or end stage renal disease. There are four types of Medicare1. Medicare part A is granted to those 65 and older, covers hospital and nursing care, hospital stay, nursing care post hospital stay, nursing home care, and hospice care. Medicare part B covers medical necessities, such as ambulatory care, and is optional. Part C requires the patient to choose a primary care provider (PCP) who is the main coordinator for their medical care. These patients are part of a health system network2. Finally, Part D is the optional Medicare prescription drug benefit and it also requires participation in part A and B. This plan is offered by private insurance companies and aims to lower the price of prescription …show more content…
department of Veterans Affairs (VA) provides healthcare to citizens who served in the Armed forces and is funded by the federal government. The minimum requirement term of requirement is 24 months unless there is an extenuating circumstances. Among America’s patchwork of insurances, the VA is a fully comprehensive system for the special portion of the population. According to the va.gov the system has 1,700 facilities that provide medical care to over 8.5 million veterans annually5. The Children’s Health Insurance Program (SCHIP) is a jointly funded state and federal program to provide health care coverage to eligible children. This jointly funded program is based on the Medicaid Federal Medical Assistance Percentage. It was founded to provide health care coverage to uninsured children up to nineteen years of age who are from low-income families but above the cut-off of Medicaid eligibility. This program provides Early and Periodic Screen, Diagnostic and Treatment services including mental and dental health and the necessary vaccinations for
Medicare benefits are intended to lessen the burden of medical expenses for elderly and disabled patients that are retired from the workforce or unable to work. Medicare is funded by payroll taxes payed from income tax, general revenues, and out of pocket expenses paid monthly. To be eligible for Medicare you must be 65 or older, received Social Security Disability Income for 24 months, or have Lou Gehrig’s Disease or end stage renal disease. There are four types of Medicare1. Medicare part A is granted to those 65 and older, covers hospital and nursing care, hospital stay, nursing care post hospital stay, nursing home care, and hospice care. Medicare part B covers medical necessities, such as ambulatory care, and is optional. Part C requires the patient to choose a primary care provider (PCP) who is the main coordinator for their medical care. These patients are part of a health system network2. Finally, Part D is the optional Medicare prescription drug benefit and it also requires participation in part A and B. This plan is offered by private insurance companies and aims to lower the price of prescription …show more content…
department of Veterans Affairs (VA) provides healthcare to citizens who served in the Armed forces and is funded by the federal government. The minimum requirement term of requirement is 24 months unless there is an extenuating circumstances. Among America’s patchwork of insurances, the VA is a fully comprehensive system for the special portion of the population. According to the va.gov the system has 1,700 facilities that provide medical care to over 8.5 million veterans annually5. The Children’s Health Insurance Program (SCHIP) is a jointly funded state and federal program to provide health care coverage to eligible children. This jointly funded program is based on the Medicaid Federal Medical Assistance Percentage. It was founded to provide health care coverage to uninsured children up to nineteen years of age who are from low-income families but above the cut-off of Medicaid eligibility. This program provides Early and Periodic Screen, Diagnostic and Treatment services including mental and dental health and the necessary vaccinations for