USA Health Insurance

Health Expenditure in U.S

Health expenditures in the United States neared $2.6 trillion in 2010, over ten times the $256 billion spent in 1980. The rate of growth in recent years has slowed relative to the late 1990s and early 2000s, but is still expected to grow faster than national income over the foreseeable future.

Addressing this growing burden continues to be a major policy priority. Furthermore, the United States has been in a recession for much of the past decade, resulting in higher unemployment and lower incomes for many Americans. These conditions have put even more attention on health spending and affordability.

While there is broad agreement that the rise in costs must be controlled, there is disagreement over the driving factors. Some of the major factors that have been discussed in cost growth are:

  • Technology and prescription drugs– For several years, spending on prescription drugs and new medical technologies has been cited as a primary contributor to the increase in overall health spending; however, in recent years, the rate of spending on prescription drugs has decelerated.
  • Rise in chronic diseases – Longer life spans and greater prevalence of chronic illnesses has placed tremendous demands on the health care system. It is estimated that health care costs for chronic disease treatment account for over 75% of national health expenditures. In particular, there has been tremendous focus on the rise in rates of overweight and obesity and their contribution to chronic illnesses and health care spending. The changing nature of illness has sparked a renewed interest in the possible role for prevention to help control costs.
  • Administrative costs – At least 7% of health care expenditures are estimated to go toward for the administrative costs of government health care programs and the net cost of private insurance (e.g. administrative costs, reserves, taxes, profits/losses). Some argue that the mixed public-private system creates overhead costs and large profits that are fueling health care spending

Classifications of health expenditure in U.S

Investment

7%

Other health residential

3%

Net cost of health insurance

7%

Physician/ clinical services

20%

Retail – Other products

3%

Hospital care

31%

Retail – Rx drugs

10%

Nursing home care

7%

Other health residential and

7%

Other professional services

8%

Home health care

3%

Government Administration

1%

Graph shows that half of expenditures related health maintaining is based on Hospital care and Physician/clinic. In the past, Prescription drug expense has overwhelmed the half of the total expenditure in USA however it has been decreasing dramatically for a decade. The key factor of increased expenditure is the hi-technologized medical instruments that will affect the cost of health insurance more and more. – DIAN –

Source: Martin A.B. et al., “Growth In US Health Spending Remained Slow in 2010; Health Share of Gross Domestic Product Was Unchanged from 2009,” Health Affairs, 2012.

International Student Health Insurance (Oversea Student Insurance)

International student health insurance is available for students who are studying away from their home country, and offers them access to health care and facilities. It makes it much easier to receive quality health care and benefits from insurance providers, and can help save thousands of dollars in case of an emergency or illness. Medical expenses can be very costly in US. In addition, many health care providers at colleges and universities can deny treatment if a student does not provide appropriate records of international student insurance coverage.

Each state has different laws and regulations regarding medical insurance coverage, but almost every college and university that accepts students on an ‘F’ visa requires proof of financial ability before enrolling in a college program. This means that students may be deemed ineligible for studies in the U.S. if they cannot support themselves financially; having the appropriate medical coverage is essential to this process, and all students need to carry at least the most basic international student medical insurance during their stay. While colleges and universities cannot track if a student is continuing with their selected foreign student health insurance, the risk of getting sick or requiring surgery is still a problem. If a student cannot afford to take care of their health because of increased medical expenses, they may be required to forfeit their status as a student and return to their home country.

Why Oversea Student Health Insurance Important While Studying in U.S

International student health insurance is important when studying in the U.S. for a variety of reasons including:

  • Receiving adequate and quality health care in an emergency situation
  • Having access to doctors and other health care providers to ensure optimal health throughout the year
  • Reducing the chances of having to manage the high costs of health care, treatment, doctor visits, and prescription medication
  • Receiving adequate health care from appropriate providers
  • Reducing the burden of financial hardship in case of emergency treatment
  • Compliance with university requirements and guidelines

Where to Buy International Student Insurance

Affordable international student health insurance plans are available online, as well as through local area networks in the state you are pursuing studies. Contacting the university admissions office first can lead you to discounted rate plans specifically designed for international students. These are often priced much lower than standard options available elsewhere, and can provide enough protection for adequate coverage.

What should be considered in when you buy the international student insurance?

There are many coverage item and conditions especially in F visa holders’ plan however In common, You will need to consider followings:

  • What is the maximum I would be covered for?
  • How much is the deductible?
  • How much will this cost – and how does the cost change with different deductibles?
  • What am I not covered for (for example, some insurance plans don’t cover varsity or even intramural sports injuries)?
  • Are there restrictions on which physicians I can use?
  • Do I need a referral to see a specialist?
  • What if I get sick or hurt while I’m traveling? Including outside State and USA?
  • Do I need pre-approval from the insurance company before I can go see a health-care provider?
  • Am I covered as a graduate student, or is the restricted to undergrads?
  • The last, Reasonable premium?