Health & Medical Insurance Origin : It idea began 1964 by Hugh Chamberlen. It started with accident insurance which later covered disability insurance and gradually have taken the present form of medical and health Insurance. Under this apart from above medical cost are covered for illness including operations, bills for medicines. Post independence the Health services has improved in India. With positive change in economic conditions and rise in per capita income of the people post liberalization the health awareness is increasing in India. With the formation of Insurance Regulatory and Development authority many private players have emerged in the market. The choices for people have increased .People can now select besides the traditional players like government. This flexibility has given more bargaining …show more content…
Source: Towers Watson Source: Towers Watson Industry Outlook The industry growth in financial year 2014-15 was 9.3%.In 2013-14 it was 13 %.Projected figure in 2016 is 18%.(The percentages are gross premium).Industry growth decreased due to slowdown in investments and natural calamities like flood in the state of J&K and storm in A.P. There was 3.9% drop in insurance penetration in 2014-15 as compared to 2013-14.The insurance penetration in 2014-15 was 3.3%. The insurance density increased in 2014-15 and was 3498 rupees as compared to 3307 rupees in 2013-14. In 2014-15 health insurance premium was 20,096 cr rupees. The trend is as per the following table(in cr rupees):- Market Share 2010-11 2011-12 2012-13 2013-14 2014-15 Public Sector 6689 8015 9580 10841 12882 Private Sector 2850 3445 4205 4482 4386 Standalone Health Insurer 1492 1609 1668 2172 2828 Total 11031 13070 15453 17495 20096 Public sector was major contributor with 64% share in 2014-15 & Stand alone was 14 % increase of 2% over previous year. And private sector contribution changed from 26% to
Membership Services (MSD) at Kaiser Permanente used to be a modest department of sixty staff. However, over the past few years the department has doubled in size, creating minor departmental reorganization. In addition the increase of departmental staffing, several challenges became apparent. The changes included primary job function, as well as the introduction of new network system software which slowed down the processes of other departments. These departments included Claims (who pay the bills for service providers outside of the Kaiser Permanente network), and Patient Business Services (who send invoices to members for services received within Kaiser Permanente). Due to the unforeseen challenges created by the system upgrade, it was decided that MSD would process the calls for both of the affected departments. Unfortunately, this created a catastrophic event of MSD receiving numerous phone calls from upset members—who had received bills a year after the service had been provided. The average Monday call volume had risen from 1,800 to 2,600 calls per day. The average handling time for each phone call had risen as well—from an acceptable standard of 5.6 minutes to an unfavorable 7.2 minutes. The department continued to be kept inundated with these types of calls for the two years that these changes have been effect.
From the table above you can see that it was in 2007 which was highest peak the construction industry in the last 10years, contributing £102.5 billion (7.1% of the economy) however in 2012 the contribution was £19.5 billion less than at this peak. In this next graph you can see the how the construction industry fell deeper into the recession than the whole economy and how there was a rise in 2009 however how the construction industry is still struggling to get out of the recession with a further dip in 2013.
From the individual perspective mandating the health insurance will firstly make the individual be independent rather than relying over the society and whatever cost of medical treatment due to catastrophic events the insured faces in his future will be covered by the Health Insurance and he has to bear very less cost of the medical treatment. And also those services will be there whether the person gets sick or not.
In fact, when I started answering question 1, I was thinking that both sides can play a key role in the provision of health coverage, but when I went to the bottom line that most of uninsured are retiree, unemployed, or developmental disabled who will be easily ignored by market place. So YES, I do agree with you that the government should play the key role in uninsured. I realy like the way that you define the free market in which consumers freely pick the best coverage that fit their needs but it is unrealistic for those with preexisting condition or severely ill to get fair or affordable premium. I know the medicare and midicaid coverage covered a significant number of uninsured but it is still a challenge for the government to reach
The Affordable Care Act (ACA) was passed into law to provide greater healthcare coverage to millions of Americans. The passage of the ACA bill into law was to eliminate the gap between existing health care disparities among the undeserved, underprivileged and minority groups. However, the ACA have not abolish health care disparities but only reduce them to some extent. For instance, The ACA mandates that both Medicaid and insurance plans cover lifesaving preventive services recommended by the US Preventive Services Task Force, including colorectal cancer (CRC) screening and choice between colonoscopy, fecal occult blood testing (FOBT) and flexible sigmoidoscopy (Green, Coronado, Devoe, & Allison, 2014).
Health Care workers are constantly faced with legal and ethical issues every day during the course of their work. It is important that the health care workers have a clear understanding of these legal and ethical issues that they will face (1). In the case study analysed key legal and ethical issues arise during the initial decision-making of the incident, when the second ambulance crew arrived, throughout the treatment and during the transfer of patient to the hospital. The ethical issues in this case can be described as what the paramedic believes is the right thing to do for the patient and the legal issues control what the law describes that the paramedic should do in this situation (2, 3). It is therefore important that paramedics also
This is a solid result given the inside rebuilding and authoritative advancement executed throughout the year. It is hard to believe that premium charges declined over the former year, reflecting not just the late Reserve Bank base premium rate changes, additionally enhanced saving money game plans and solid obligation administration controls inside the Group. The Group reports its business in two working sections being Bega Cheese and Tatura Milk. Bega Cheese had a solid bring about 2013 determined by expanded deals and solid generation volumes in quick moving buyer products (FMCG). Income increased by 12% from $614 million to $690 million, with residential contract bundling interest helping most of the increment. Despite the fact that drain supply volumes were solid, less drain was utilized as a part of cheddar generation as the Group looked to build benefit by utilizing milk solids within higher edge
It was set out to monitor the premiums that insurance companies offer and moderate them so that every citizen gets access to the services. There are exchanges that were established for people who cannot access health insurance from employers. In choosing insurance plans for employees, the employer must ensure that the employees can afford the premiums and also must ensure that the plan includes the most important medical services for the employer.
The concept of Health Insurance and managed health care the inventions of the twentieth century that were started as prepaid health care. The early insurance concept was merely a way for people to pay medical bills not a way of protecting individual financial assets as the case is today. Overall the health care industry has endured significant changes since its inception.
has showed that it has increased in the thousands margin from the beginning to 2015 and we do
... of fiscal 2013 include capacity expansion by setting up new manufacturing facility at Khandala, Maharashtra. Also, its second joint venture with PPG became operational this year. Its net revenue increased by 12.7% despite GDP growth slowing down to its lowest in a decade. It can be seen there isn’t much effect on company’s growth despite economy slowing down.
Only in April 2007, there has been a growth of 13,2% with respect to April 2006. The medium high cylinder capacity segment is the one showing highest growth. These data show the great economic potential of the ...
experiencing growth rates in GDP per head at around 6% to 7% compared to the 2%
When speaking with an at-fault party’s insurance agent after an accident, it is easy to get the impression that the representatives are there to help you. However, in reality, that agent is looking for every opportunity to decline or minimize your claim in order to save their company money, as every seasoned Corona plaintiff lawyer can attest.
It has exported 7.716 million tons cement during 2007-08 and had earned 450 million dollars