These out of pocket expenses are typically used for prescriptions and office

These out of pocket expenses are typically used for

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These out-of-pocket expenses are typically used for prescriptions and office visits. It can be lowered by a Cost Sharing Reduction subsidy. The reduction does not lower your copay, instead
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it will lower your out-of-pocket costs. (Obamacare Facts, 2017). The amount a patient pays for a copay goes towards their deductible. A deductible is the amount of money a patient pays out-of- pocket before their healthcare insurance begins to pay for their fees. In 2017, a patients’ out-of- pocket maximum can be no more than $7,150 for an individual plan and $14,300 for a family plan (Obamacare Facts, 2017). In Great Britain, the public system financing is generated by tax revenues, including employment-related insurance contributions. The money collected from the tax revenues is distributed to the hospital doctors and healthcare providers in a fixed salaried contract. Under the NHS, there are no insurance premiums, deductibles, or copays for inpatient services. However, there is no cap for out-of-pocket expenses. One financial implication for Britain healthcare system would be the copays charged for outpatient prescription drugs. Currently, each prescription drug will cost about 12USD. This, however, does not apply to prescriptions prescribed in an NHS hospital. Prescriptions prescribed inside a hospital are free. Additionally, medical appliances and equipment contributes to over 53% of their out-of-pocket expenses.
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References FastStats. (2017). Cdc.gov. Retrieved 14 August 2017, from Medicaid Home. (2017). Medicaid.gov. Retrieved 13 August 2017, from National Center for Health Statistics. (2017). Health, united states, 2016: with chartbook on long-term trends in health Obamacare Facts: Facts on the Affordable Care Act. (2017). Obamacare facts. Retrieved 12 August 2017, from Office for National Statistics (2013). Consumer trends series: consumer trends , Q2 201 Reid, T.R., Palfreman, J. Sick Around the World . PBS, 2008, The Commonwealth Fund. (n.d) International profiles of health care systems . The Commonwealth Fund, January 2015 The Individual Shared Responsibility Payment - An Overview. (2017). Irs.gov. Retrieved 14 August 2017, from - responsibility-payment-an-overview Thorlby, R., Arora, S., (n.d) International profiles of health care systems , The Commonwealth Fund, January 2015
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