Financial Implications In the US insurance coverage depends on a residents

Financial implications in the us insurance coverage

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Financial Implications: In the U.S. insurance coverage depends on a resident’s financial means however whether participating in a private or public healthcare program each comes with some sort of financial implication. One such implication is for residents that carry private insurance, these policies generally have a deductible (amount a participant must contribute out-of-pocket before the insurance begins to contribute) and this deductible amount can vary by policy. The cost of the policy is often dependent on the amount of the deductible. A second implication affects participants in both private and public programs. Each program has a share of cost meaning the participant will have co-pays or a dollar amount they will be required to pay for office visits, specialty services, and/or prescriptions. Though Japans healthcare system is a universal system it too comes with financial implications for citizens. One financial implication is all citizens are required to pay an income- based tax that funds the program. A second financial implication is that participants will have a share of cost of 30% for all services with the exception of children under 6, elderly, and low income which generally has a 20% share of cost.
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References The U.S. Health Care System: An International Perspective. (2016). Retrieved September 21, 2019, from Department for Professional Employees website: - publications/ issue-fact-sheets/the-u-s-health-care-system-an-international-perspective/ The Japanese Health Care System. (n.d.). Retrieved September 21, 2019, from International Health Care System Profiles website: Health coverage options if you're unemployed. (n.d.). Retrieved September 21, 2019, from HealthCare.Gov website:
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