Health Insurance Research Paper

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Health insurance protects individuals from unexpected and high medical costs. It is a contract between the consumer and the insurance company. The consumer buys a plan or policy, and the company agrees to pay part of the expenses when the consumer/member needs medical care. In the United States, most individual gets health insurance policy through their employers. Usually, the employer helps pay for that insurance. Insurance through employers is often with a managed care plan. These plans contract with health care providers and medical facilities to provide care for members at reduced costs. You can also purchase health insurance on your own. People who meet certain requirements can qualify for government health insurance, such as Medicare …show more content…
They serve their clients and consumers through two distinct functions: (1) provides health care coverage and (2) provides information and technology –enabled health services. United Health Group was named as the world’s most admired company in the insurance and managed care sector for five consecutive years by fortune. Through its many health care innovations, UnitedHealth Group today touches more than 80 million people worldwide including militaries and their …show more content…
• The both offer tools to improve health care, such as 24 hour nurse (United Health Group) and Humana First Nurse (Humana). Members can talk to registered nurse anytime. This is helpful specially if have health concern and it is impossible for you to see your doctor right away.
b. What are the differences in what they offer? Humana and United Health Group’s health plans are categorize differently. United Health Group health plans are separated into 4 metallic categories: Bronze, Silver, Gold, and Platinum. It is based on how the members and the plan are expected to share the costs of essential health benefits. The percentages the plans will spend, on average, are 60% (Bronze), 70% (Silver), 80% (Gold), and 90% (Platinum). The plans in all 4 categories offer the same set of essential health benefits. The difference is in how much help you want paying for things like hospital visits or prescription medications
Bronze: This plan is best if the consumer/member rarely use medical services. Want to save money and do not expect to use many medical services.
Silver: This plan is best if the consumer/member want to balance monthly premium costs with out-of-pocket health

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