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Health insurance, like other forms of insurance, is a form of collectivism by means of which people collectively pool their risk, in this case the risk of incurring medical expenses. The collective is usually publicly owned or else is organized on a non-profit basis for the members of the pool, though in some countries health insurance pools may also be managed by for-profit companies. It is sometimes used more broadly to include insurance covering disability or long-term nursing or custodial care needs. It may be provided through a government-sponsored social insurance program, or from private insurance companies. It may be purchased on a group basis (e.g., by a firm to cover its employees) or purchased by an individual. In each case, the covered groups or individuals pay premiums or taxes to help protect themselves from unexpected healthcare expenses. Similar benefits paying for medical expenses may also be provided through social welfare programs funded by the government. By estimating the overall risk of healthcare expenses, a routine finance structure (such as a monthly premium or annual tax) can be developed, ensuring that money is available to pay for the healthcare benefits specified in the insurance agreement. The benefit is administered by a central organization such as a government agency, private business, or not-for-profit entity. From Wikipedia under the
GNU Free Documentation License How does health insurance work in the US? Q. I am a non-US citizen and need this information to do a case. Specifically: 1) Is health insurance compulsory for everyone? 2) What happens if someone cannot afford it? 3) In the event that a medical procedure needs to be done, does health insurance cover all the bills? Does the patient need to pay anything extra? 4) Does the patient have any say over what kind of procedure he can take? Say if 2 treatments are available for his condition, can the patient choose the more expensive treatment? And if so, is it covered by the insurance? Thanks for reading this. Your help in answering any part of the questions would be greatly appreciated! Thanks to those who have responded so far. I would like to further ask: Does a health insurance… [cont.] Asked by synchronised - Sun Mar 4 02:13:00 2007 - - 3 Answers - 3 Comments A. You've asked a very broad question. There is no simple answer. In truth, health insurance works a little differently in each state. To answer your specific questions: 1) No, health insurance is not compulsory for everyone. If you're lucky, you are able to join a group policy at work. (If you're really lucky, it's a good policy and the employer pays at least half of it.) Some states have recently made it compulsory, but that's such a recent change that there's no clear cut answer yet for how that's going to work. 2) What happens if someone can't afford it is... they don't get it, usually. Except if your income puts you below the "poverty level", in which case you qualify for Medicaid. (In some states there are programs that… [cont.] Answered by ISOintelligentlife - Sun Mar 4 02:38:02 2007 How do health insurance tax deductions work for a member managed LLC? Q. I own a business (LLC) with two other people. It is only us three; we do not have any additional employees. We pay for our health insurance through our business. Based on these facts, I was wondering how much I stand to save on my personal taxes. Is this a standard write off like any other business expense or does the IRS treat health insurance differently? Asked by prizice24 - Tue May 6 18:49:24 2008 - - 1 Answers - 1 Comments A. Multiple member LLC's can be taxed 3 different ways: 1. As a partnership 2. As a C corporation 3. As an S Corporation The deductability of health insurance premiums for your LLC will depend on which of the 3 types of entities your LLC elected to be taxed at (the default is the partnership form of taxation). Typically, you will be able to deduct 100% of your health insurance premiums although there are some specials considerations for owner/officers of S Corporations who own more than 2% of the company. If you speak with a CPA or qualified tax advisor they should be able to give you plenty of good tips. One thing that you may want to mention is a medical reimbursement plan. Here is some more detail on medical reimbursement plans: Answered by HealthQuote360.com - Tue May 6 23:50:58 2008 What health insurance plans cover the most patients in Indiana?
Q. Who are the top 6 health insurance plans in Indiana in terms of number of patients covered? I believe Anthem is number one? Asked by kaycee barnard - Wed Aug 26 17:55:49 2009 - - 1 Answers - 0 Comments A. I am an RN in southern IN...The biggest group I see is medicaid and medicare...LOL...But I would say Hummana is a big one and then Blue cross blue shield. Check out this site, if you want to find the cheapest health insurance just in one minute, Here you can get free quotes from different health insurance companies in your area, its the best way to find an afforable health insurance with a reliable company. Best Wishes, Answered by jessenia towers - Wed Aug 26 17:56:48 2009 From Yahoo Answer Search: "health insurance" LIVE Chat: Ohio's High Risk Health Insurance program opens enrollment August 1 - WKYC-TV
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