Homework Question on Sources of Healthcare Funding
- 125 WORDS #1.The sources of funding are: 1. self pay 2. insurance a. indemnity b. managed care 3. state and federal funding. What are examples of each and how does each method of payment fit into today’s health care environment?
- 150 WORDS #2. With Medicare and the Patient Affordable Health Care Act we are getting close to a form of National Health Care Insurance. Do you feel we should have taxpayer supported National Health? Why or why not?
Homework Answer on Healthcare Funding
Self-pay: this is an arrangement for uninsured patients. These include individuals who are unshielded through health cover. In this plan, patients pay medical charges out of their pockets. Hospitals charge the uninsured more fee than covered individuals. If the individuals have inadequate resources to meet the medical expenses, individuals pay the bills using property-based arrangements or long-drawn-out payment plans. Hospitals use such policies to help individuals without insurance means.
Indemnity: refers to health plans in which individual members are responsible for a portion of the medical cost. Most plans entail members’ enrolment in emolument premium plans; members are obligated to first meet the deductibles.
Managed care: this offers restricted choice of treatments by providers in an exchange involving lower deductibles, premiums and charges compared to indemnity insurance. The plan uses formal programs for quality guarantee and operation reviews. The managed plan needs to be financed using capitation fees. Examples are HMOS, POS and PPO’s.State funded or federal plans are funded by taxpayers; examples are Medicaid, Medicare, and CHIP fair, non-discriminatory, and efficient.