Question

Identify some different health care coverage options for consumers. What are the main differences?

Who might each of these options be best for? Why?

Answer 1

Healthcare coverage options for consumers;

-private insurance

-medicare

Main differences between the healthcare coverage options;

-private insurance is self funded whereas the medicare is tax-payer funded

-the private health system handles the private insurance obligations whereas the government health system provides services for medicare

-the cost of treatment is often higher under private health care system compared to the medicare.

The best option that provides best fit is medicare. It is less costly and provides quality medical services.

Healthcare coverage options for consumers;

-private insurance-private insurance are self funded or employee sponsored programs which exist in the US.

-medicare-medicare is a government funded healthcare coverage that aims at ensuring quality health care to all the citizens.

Main differences between the healthcare coverage options;

-private insurance is self funded whereas the medicare is tax-payer funded-the private insurance is mainly funded by the individuals or the organizations which have such programs.This differs from the medicare which is a government healthcare plan and is funded by the general public through the tax payments.

-the private health system handles the private insurance obligations whereas the government health system provides services for medicare-the private insurance coverage are channeled within the private health system for the various individuals. The medicare on the other hand is channeled through the public health system.The variations is key for the healthcare coverage planning based on individual needs.

-the cost of treatment is often higher under private health care system compared to the medicare-private healthcare system often involves higher costs and contributions to the insurance. The medicare is universal coverage and cover the individuals who may even be disadvantaged in the society and much cheaper.

The best option that provides best fit is medicare.The medicare programs is less costly and provides quality medical services.The funding to the medicare is also consistent as the government have to comply to the payments through the taxes it receives. The medicare also ensures coverage for all including the ones who are not employed.