Things We'd Sooner Forget
In 1945 this accounted for 4% of the U.S. Gross Domestic Product (GDP), now it is about 17%.
What is/are health care costs? (or medical care spending)
Enacted in 1965, this federal health insurance program today covers more than 60 million Americans at a cost of over $900 billion a year, including those with end-stage renal disease and permanent disabilities.
What is Medicare?
This type of insurance, exemplified by Medicare and Social Security, is characterized by government involvement, compulsory participation, and earned benefits.
What is social insurance?
The amount you pay each year for covered health care services before your insurance plan starts to pay.
What is deductible?
If health care spending was an Olympic sport, with countries recognized for spending the most money on medical care, this country would receive the gold medal
What is the United States?
A group that in the 20th century persistently and repeatedly resisted government sponsored health care programs in the United States.
What is the AMA? (American Medical Association)
The German Chancellor who instituted the first social insurance program in 1883.
Who is Prince Otto Eduard Leopold von Bismarck? (or Bismarck)
The type of insurance in which, in exchange for regular payment of a premium, an insurance company compensates the insured party following a loss.
What is indemnity insurance?
A fixed amount you pay for a covered medical service after you've paid your deductible, these are often higher for visits to a specialist than to a primary care doctor.
What is a copayment (or coinsurance)?
These institutions saw themselves as charities and did not usually charge for their services before the 20th century.
What are hospitals?
A term with no specific meaning used historically to refer to any efforts to increase the organization of or control over medical practice, including well-baby programs, private insurance, public insurance, and the Affordable Care Act.
What is socialized medicine?
The first large-scale private coverage scheme for hospital care, this plan grew out of hospitals’ efforts in Sacramento and elsewhere to offer prepaid service benefits that included a choice of all hospitals in a given community.
What is Blue Cross?
Insurers worry about this happening when their health insurance plans attract a disproportionately sick population.
What is adverse selection?
This government health care program, which covers many low-income Americans, is an example of the public assistance or welfare approach to financing medical care.
What is Medicaid?
The form of payment about which George Bernard Shaw wrote, “the more appalling the mutilation, the more the mutilator is paid”.
What is fee for service?
The method used by insurance companies historically to charge higher premiums to groups of people who are more likely to be sick and need health care and lower premiums to those who are more likely to stay healthy.
What is experience rating? (or medical underwriting)
This decade is when private health insurance had its most explosive growth in the United States.
What are the 1940’s?
These persons have health insurance but their coverage doesn’t enable affordable access to health care and they often face high costs when then they use medical care.
Who are the underinsured?
The most recent state to expand Medicaid eligibility for low-income persons under the Affordable Care Act
What is North Carolina?
To the nearest trillion, the total amount of money the United States spent last year on medical care. DAILY DOUBLE!!!
What is $5 trillion?
The tendency of insurance to change the behavior of insured persons so that coverage against a loss might increase risk-taking behavior—or in the case of health insurance, increase utilization of medical services—by the insured person.
What is moral hazard?
Enacted by Congress in 1935, this law created a federal program for old-age insurance but omitted any reference to health insurance.
What is the Social Security Act?
Under the Affordable Care Act, this is where uninsured persons can go to choose from different private insurance plans and buy coverage. DAILY DOUBLE!!!
What is the Health Insurance Exchange (Health Insurance Marketplace, or Marketplace, or Healthcare.gov)?
Under this system of pricing health insurance, the entire population of an area is charged the same premium, regardless of their health status.
What is community rating?
A form of payment where physicians receive a set amount of money each year for a patient regardless of how many medical services patients use.
What is capitation?