Question

Part 1. Discuss statistics on the different types of insurance held by the U.S. population. Emphasize the different Medicare plans: Part A, Part B, and Part D, the State Children’s Health Insurance Program and identify what types of private insurance is available and how it is funded.

Part 2. Based on your research, what type of insurance (public or private) contributes more to the percentage of GDP that is associated with health care costs?

Answer 1

1) there are different type of insurance held by the population of the country Armeniaca. medicare have four parts that is A,B,C,D . for Armeniaca the premium has to pay monthly. M hitch is a program sponsored by the the government US . The children health care program extent their their the children those who are eligible through the program.It is funded coverage by federal government as well as state government. This comes under the act affordable care. Bitis leaded by the president Obama . Even though it is basically meant for poor Americans. The Americans types of insurance available today in US ar marine insurance, life insurance, personal insurance, liability insurance, personal insurance, property Insurance guarantee insurance.

Medicare part A

the plan medicare A includes the cost of medical facility as well as hospital care. it is responsible for coinsurance.

Medicare B

The medicare part B provides coverage fo doctors also. it has a monthly premium starting from $144.60. People comes under the higher income scale also need to pay on monthly basis.

Medicare C

this medicare includes the dental, hearing, and vision which arte not covered under the other. Thus it is said to be an alternative traditional care that is available.

Medicare D

It comprises of the coverage for drugs which is leaded by private administration. In most of the cases this part also needed monthly payment of premium.

Int the working years the tax payers contribute a part of their incomes to the mentioned parts of medicare. It has gaps so that it may require additional monthly premium. It can be said a comprehensive plan for public.

2) In relation to the Health care cost the private i insurances are contributing more to the GDP of the nation. A cording the figures in 2018 the insurance is the cording which contributes more to the GDP. the contribution of the sector insurance alone is 1/5 th of the total GDP. The insurance industry of united Sector GDP stages in 2015 for the first time ever.

The activities of insurance contribute nearly $630 billion. exceeded the service sectors are the most biggest contributor of gross domestic product (GDP) The health insurance of private Nowadays in business . Thus the support given by the insurance sector to the GDP is higher. they created more than 2.6 million job specializes in the unites states. A mreica is the most strongest economy plays as regulatory regime to support the growth of insurance sector.

The insuarnce companies of US also contributes and make investment in capitakl market. They invest as well as reinvesty in the market and earn more amount from it. All these activities make a huge hike in the GDP of the nation.