Analysis of Different Levels of Health Insurance in the USA

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This essay delves into the diverse landscape of health insurance in the United States, examining the different levels of coverage available to individuals. It begins by highlighting the prevalence of employer-sponsored insurance and the significance of the Affordable Care Act (ACA) in shaping the healthcare delivery system. The core of the paper focuses on the four main tiers of health insurance: bronze, silver, gold, and platinum, each characterized by varying actuarial values and cost-sharing arrangements. The bronze level, offering the lowest premiums, is contrasted with the platinum level, which has the highest premiums but the lowest out-of-pocket expenses during care. The essay also references the Kaiser Family Foundation website as a valuable source of information, emphasizing its user-friendly interface and the availability of detailed insights into health costs, reforms, and specific health issues. By analyzing these different levels of insurance, the essay provides a comprehensive overview of the US healthcare system, emphasizing the importance of health coverage and the role of ACA in managing healthcare costs.
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Running head: DIFFERENT LEVELS OF HEALTH INSURANCE
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DIFFERENT LEVELS OF HEALTH INSURANCE
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2DIFFERENT LEVELS OF HEALTH INSURANCE
Different Levels of Health Insurance in the U.S.
According to the United States Census Bureau, there are 60% of the American
covered by the employer, whereas 9% of them buy insurance directly (Berchick, Hood &
Barnett, 2018). There are different levels of health insurance in the U.S. that satisfy the
various medical needs. The aim of the paper critically discusses the different level of health
insurance, pros and cons, ease of site and level of information available in the Kaiser Family
Foundation.
According to the Affordable Care Act (ACA), it was formulated to offer affordable
healthcare insurance to all the people and to modify the healthcare delivery system for
improving the quality of care and controlling the cost. As per the given website, there are four
different levels of healthcare insurance based on the actuarial value. According to Polyakova,
Hua & Bundorf (2017), the actuarial value is a measure that assesses the plan would cover
the level of financial protection offered by health insurance policy and the percentage of the
cost related to healthcare. The four levels are bronze that covers 60% of health cost, silver
covers 70%, gold covers 80% and platinum covers 90% of the entire cost of health care. The
bronze category has the lowest monthly premium and involves high price at the time of care.
The deductible consists of the amount paid prior to starting the insurance. It is the best low-
cost way that protects from worst-case medical disease, as the monthly premium is low. This
is followed by silver that involves average premium and moderate cost. In case a person
qualifies cost-sharing reduction, this plan help in savings (Ericson & Sydnor, 2017). The gold
level involves a high premium, lost cost at care and is more apt when long-term treatment is
required. The platinum level of health insurance comprises of the highest premium and
require low cost during care or treatment. This is also appropriate in case of an extended
period of care and for people that are willing to pay a high premium per month. All the
marketplace health plans comprise of ten essential health benefits that are defined by ACA,
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3DIFFERENT LEVELS OF HEALTH INSURANCE
most of the plans have copays, it can be found that deductible and coinsurance varies
according to the plan belonging to the same level. On the basis of household size and annual
income, the individual is liable to receive federal financial assistance toward the plan from
the Federal Government. From the website of the Kaiser Family Foundation, it can be
observed that a huge amount of information is available on the site that can be accessed by
the audience. The level of ease of accessing the information is high because there are
different tabs available for each category such as Health Costs, Health Reforms, HIV/AIDS,
Medicaid, Private Insurance and others that offer recent information (Kff.org, 2020).
From the discussion, it can be inferred that the health system in the U.S. emphasis on
health insurance. The ACA 2010 was designed that focused on health coverage in order to
control the health-related cost. The four levels of health insurance were designed that allows
people of different sections to be insured that help at the time of treatment. The use of the
Kaiser Family Foundation website allowed gaining information.
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4DIFFERENT LEVELS OF HEALTH INSURANCE
References
Berchick, E.R., Hood, E., & Barnett, J. C. (2018). Health Insurance Coverage in the United
States: 2017. The United States Census Bureau. Retrieved 16 February 2020, from
https://www.census.gov/library/publications/2018/demo/p60-264.html
Ericson, K. M., & Sydnor, J. (2017). The questionable value of having a choice of levels of
health insurance coverage. Journal of Economic Perspectives, 31(4), 51-72.
Kff.org. (2020). The Henry J. Kaiser Family Foundation. Retrieved 16 February 2020, from
https://www.kff.org/
Polyakova, M., Hua, L. M., & Bundorf, M. K. (2017). Marketplace plans provide risk
protection, but actuarial values overstate realized coverage For most enrollees. Health
Affairs, 36(12), 2078-2084.
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