Sunday, December 7, 2008

Health Insurance Domain in a Nutshell - II

Refer to the below article for Health Insurance Domain in a Nutshell

Medicare: person above 65 and other with certain disabilities.

Medicaid: Certain categories of medically needy.

StateWorkersCompensationProgram: workers suffered at work

Military Programs: active service, veterans and the dependents of both.

109 Life insurance companies and 51 property & Casualty insurance companies operating out of Canada. 105K people working in Insurance domain in Canada. Assets of Canadian Insurance companies is above 227 Billion $.

Canada has higher Mutual Insurance companies proportion to Stock companies when compared to US.

Mutual companies are difficult to take over, so Canada encouraged these type of companies to avoid take over from foreign companies.

Deductibles: the first X $ amount paid by insurer. Two kinds of deductible All cause deductibles, per cause deductibles.Corridor Deductibles: first deductibles, then basic coverage and then supplement coverage in order.

Coinsurance: EX:80% by insurance company, 20% by insurer.
Deductibles, coinsurance, co payment (fixed $ amount for every visit.)

Two types of prescription drug plan: Reimbursement, service plan (pays only copay amount shop will claim from insurance company.)

Happy Learning !!!

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