Healthcare Cont.

HMOs are the least expensive and most common type of healthcare insurance plan, while Indemnity healthcare plans are the most expensive. Due to the relatively low cost, HMOs offer restrictions that prohibit you from accessing as much healthcare as an Indemnity plan which allots a far greater amount of flexibility and freedom within the plan.

There are a plethora of services that are considered "extras" and are not generally covered under any of the 4 basic healthcare insurance categories. These bonus coverage features require additional payments & include:

• Dental care
• Vision care
• Physical therapy
• Mental healthcare
• Chiropractic care
• Maternity care
• Chronic disease healthcare
• Nursing home / hospice healthcare
• Drug / alcohol abuse treatments

Part of the nature of healthcare is that it must continuously evolve so as to adapt and conform to societal and health related changes that the future will always bring. Healthcare reforms seek to make the healthcare industry better for everyone. Healthcare reforms seek to offer better/more healthcare protection for as many people as possible at the lowest possible cost. One such reform which to this day has positively affected more than 40 million Americans came as part of the Social Security Act of 1965 and the birth of the Federally sponsored healthcare programs named Medicare & Medicaid.

Medicare provides government-sponsored healthcare to select groups. Eligibility is as follows:

• Elderly aged 65 or older
• People with certain disabilities
• People eligible for Social Security
• People eligible for Railroad Retirement Benefits

The Original Medicare Plan consists of two parts, A & B:

Part A covers hospital stays, skilled nursing care / skilled nursing facility care and hospice care.

Part B covers doctors' services, outpatient hospital services, home healthcare, etc.

The Medicare + Choice Plan, (Part C) was born out of the Balanced Budget Act of 1997, and offers managed care plans (Like HMOs) and private payment plans (Like Indemnities).

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