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.
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
The first health insurance plans began during the Civil War in the mid 1800’s, with the earliest plans only covering against accidents related to travel via rail or steamboat. Eventually, plans became more elaborate, covering all illnesses and injuries. In 1929, the first modern group health insurance plan was formed. In Dallas, Texas a group of teachers contracted with Baylor Hospital for room, board, and medical services in exchange for a monthly fee. And in 1932, Blue Cross and Blue Shield offered group health insurance plans for the first time (Neurosurgical Medical Group, 2007).
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.
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
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.
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 ...
Medical expense insurance is health insurance that protect insured against the risk of high health care cost by pooling risk for some or all of the insured. It generally cover any cost incurred in the prevention as well as treatment of injury or disease. Its coverage of hospital expense include dental care, hospital visit, drug expense, surgical expense within a certain limited. If insureds have poor health or certain health history, premiums are likely to be higher or uninsured. Insureds are still required to pay all or part of medical expense by themselves depending on the minimum deductible expense of the policy. If the medical expense excess the deductible amount, insureds are required to pay first deductible to the medical institution,
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
has showed that it has increased in the thousands margin from the beginning to 2015 and we do
A long time ago, there was no need for health insurance in America, as doctors had many clients because their services were not so expensive and in some cases in rural areas, people could pay by giving other items. Doctors were not as knowledgeable as they are nowadays in caring for the sick, therefore this didn't have much effect then on the patients, as they were treated for the basic illnesses. As progress was made in medicine gradually with new medical technologies which could only be used in the hospitals, doctors started charging more, which was unaffordable for most people, with time, all this started to change as the industrialization of the American economy caused families and people to start relying on services from doctors and the hospitals for treatment. In 1929, a system was created in Dallas, Texas (1) which charged everyone the same. This insurance was to ease the healthcare problem and create a happy scenario for both the doctors and patient, which employers added health to employment packages to boost labor due to shortage after the Second World War.
... 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.
experiencing growth rates in GDP per head at around 6% to 7% compared to the 2%
It has exported 7.716 million tons cement during 2007-08 and had earned 450 million dollars
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.