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A 2009 study published by BCBSA found that the average administrative expense cost for all commercial health insurance products was represented 9.2% of premiums in 2008. Administrative costs were 11.1% of premiums for small group products and 16.4% in the individual market.
The share of Americans without health insurance has been cut in half since 2013. Many of the reforms instituted by the Affordable Care Act of 2010 were designed to extend health care coverage to those without it; however, high cost growth continues unabated.
In the United States, health insurance coverage is provided by several public and private sources. During 2019, the U.S. population overall was approximately 330 million, with 59 million people 65 years of age and over covered by the federal Medicare program. The 273 million non-institutionalized persons under age 65 either obtained their ...
June 20, 2024 at 5:32 PM. By Amina Niasse. NEW YORK (Reuters) - UnitedHealth Group issued a public notice about the February ransomware hack on its Change Healthcare unit on Thursday as part of ...
May 28, 2024 at 9:26 PM. (Reuters) -Merck & Co is nearing a $1.3 billion cash deal to buy ophthalmology biotechnology company Eyebiotech in an agreement that could see an additional $1.7 billion ...
The proportion of out-of-pocket costs depends on profession and location: for example, workers in urban Shanghai might have 85% of their medical costs covered up to $740,000 while workers in rural Guiyang are reimbursed for 65% of their medical costs up to $29,000 annually.
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