Actuarial Science 2427A/B Lecture Notes - Prescription Drug, Dental Insurance, Root Canal
1 Feb 2013
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Document Summary
Can be split into 3 categories : poor health medical needs (doctors, hospitals, poor health disability, poor health among the elderly long term care. If an individual gets sick or needs medical treatment, they will need to get: hospitalization, treatment, drugs, other non medical needs. To meet these medical needs, an individual needs money and access to services: without proper insurance protection, cost must come from individual, could lead to financial insecurity. Can purchase individual health insurance policies can cover: hospital, drugs, medical supplies, doctors. However they do have 2 social/government health plans: medicare (health coverage 65+) and medicaid (coverage to the poor) Rest of americans need to have employer sponsored plan, individual health plan. Self employed, part time workers, people not eligible, students not covered by parents insurance, people travelling. Canadian gets medical care through their province, increasing costs, and falling benefits are leading to problems. (cut benefits)
