2.2.4 Rising Life Expectancy and Aging Population As noted by Luet et. al. (2015), the medical advancements in recent times have increased the average life expectancy of people and thus the number of aging population has increased as well. These two factors have become the key drivers of the Malaysian health insurance industry. The average life expectancy of male was 59.4 years, and for females was 60.3 years in 1960 of the Malaysian people. However, in 2011 it is 72.1 years for men and 76.5 years for women. These figures suggest that the increasing life expectancy of people means that increasing medical cost and thus the premiums of health insurances will be higher in the coming years. 2.3 Benefits Provided By Health Insurance to the Malaysian Population 2.3.1 Private and Public HealthCare Benefits Malaysian health insurance industry is divided into two segments namely private and public health insurance sector each of which provides different types of benefits to the …show more content…
Customarily, two primary types of MHI are accessible namely ‘medical expense insurance’ and ‘dread disease benefits’. The first, which is commonly referred to as hospitalisation and surgical protection, help to cover hospitalisation and surgical costs acquired, while the latter for the most part gives a singular amount of endless supply of any of the fear / dread illnesses or basic ailments indicated. Hospitalisation and surgical cost protection is the biggest MHI class, which represented 81% of aggregate MHI premiums in 2002. This sort of cover is principally produced through riders connected to singular extra security arrangements. Gathering MHI strategies, comprising of chiefly hospitalisation and surgical benefits provided by businesses as a basic segment of the compensation bundle to their staff, represented 16% of aggregate MHI premiums or RM147.7 million (Abdelfattah et al.,
On March 23, 2010, the President of the United States signed the “The Affordable Care Act” into law and the Supreme Court rendered a final decision to uphold this new law on June 28, 2012. (About the Law, 2015) But the biggest question regarding this law, is whether it is constitutional or not. "The Act establishes the basic legal protections that until now have been absent: a near-universal guarantee of access to affordable health insurance coverage, from birth through retirement. When fully implemented, the Act will cut the number of uninsured Americans by more than half. The law will result in health insurance coverage for about 94% of the American population, reducing the uninsured by 31 million people, and increasing Medicaid enrollment
Setting prices for any organization can be a tedious process. Not only do you need to make sure that prices will create a profit, but you need to ensure that the amounts created will be reasonable. Profit analysis is a route that you could take to set prices for a particular service. Profit analysis is a more detailed and neutral way a health care manager can evaluate and even foresee the course of production for the health care facility or organization. Profit analysis is a method that can be used to understand costs, price assumptions, and volume because it allows a health care manager to answer practical questions (Gapenski, 2013).
It can be quite prevailing for individuals to have financial problems towards health coverage. Based on the Health Affairs reference, “In the last decade, health insurance premiums costs have increased by 80%... whereas 58% of Americans report they are not able to seek medical attention due to high costs” (Gary Claxton, Matthew Rae, and Nirmita Panchal, et al). Statistics also present many factors exhibiting millions of individuals facing the risk of losing their insurance. Above all, health insurance is a basic health necessity. Medical services being available to everyone will benefit the public health not only with quality, but along with quantity.
Since our newest President has been inaugurated, health care is something that is and has been widely debated in our country. Every day, there are hundreds of people who go into hospitals and emergency rooms for treatment and are turned away for lack of health care. The simple truth is, everyone deserves the right to free and favorable health care. One of the many reasons that free health care is the best option for this country is because it saves lives. Every single year, thousands die due to unavailable health care.
“Managed Care is a health care delivery system organized to manage cost, utilization, and quality (Medicaid, n.d).” Managed care is set up for easy affordable access to healthcare, the care is regulated so that needed procedures are performed on the patients within the limits of network providers available. There are many undesirable and helpful aspects of managed care. For example, a managed care system provides lower costs, quality service, employer opportunities to make available insurance for their employees, in network provider connections allowing for easy finds of doctors for the patient’s specific plan (Cyrene, n.d). There are however many disadvantages, those include not having the accurate provider or lack of provider for the required
At my company Blue Cross Blue Shield of Tennessee we also do the Performance Management and Development to measure our performance. Our calls are listened to by our quality department to see if answered all questions and if every question and answer documented in our system. The report is sent to our supervisor and manager to notify them of our individual performances and then it is averaged out to get the report of our entire department. On our yearly evaluation we have to set goals that we want to achieve such as attending one of our workshops on our campus or starting our college degree.
Reasons behind this fact as identified by the author might be the involvement of private firms in releasing insurance funds which is only granted when employees get benefits or wages one way or another and in the long run, they pay from their own money. Secondly, the dependency of capabilities and fortunes on the availability of health insurance is also a thoughtful fact. Lastly, there is a concern involving the health and business of health care and insurance domain that either the health care stakeholder will be able to cope up with the confronted challenges or not in the future keeping in consideration the factors such as health of the people of
Public health insurance assures that, since it decreases the gap between social levels as there is no discrimination between rich and poor. According to article (12) in the library of human rights session number (22) “it's the right for every citizen to enjoy the luxury health and receive the highest medication”. Public hospitals provide that by making its number one aim to treat the patient and make sure that the patient has received proper medication without caring about what payments will be paid and what luxuries will be provided according to the paid amount. “The right of each citizen to have an appropriate acces to health care should be based on their needs and not on their ability to pay costs for such care” confirmed by the paper of health and population provided in the eighth national
Governments throughout the world intervene in the health sector. It is hardly for any economic activity to be free from the government intervention. In Malaysia, the government intervention shown in the three main categories, including provision of goods and services, redistribution and regulation under the dominant scopes of financing, production or delivery as well as regulation of healthcare industries (Folland, Goodman, & Stano, 2010). Undeniably, there are many factors could motivate intervention in healthcare by the government such as equity, efficiency and monopoly power. It is true that all these factors are arises due to the existence of market failure which acts as an economic rationale for government intervention.
Healthcare insurance systems in any countries vary in several ways in such as financing, sources of revenues, health care spending, and health measures and resources. This paper will compare and contrast the cultures of health care systems around the world learned to focus on their managerial and consumer behavior patterns, cultural values and negotiation styles, financial matters and political consideration, and illustrating ways of implementing what learned as future healthcare practitioner obtaining a degree in MBA as well. Canada In Canada, the government is regionally administered universal public insurance program that plans and funds provision. The public system is financing by provincial and federal general tax revenue.
Health care cost has seen to increase gradually as years go by. This has been influenced by major factors such as political influence, emerging chronic diseases, new procedures that are coming up including the technologies being invented for treating illnesses, pricing of medicines and treatment is not regulated and when treating ailment their may arise repetition of tests or a patient gets over treated for a particular ailment. The cost of healthcare has increased due to chronic diseases such as cancer and diabetes etc. The lifestyle people are living in this generation has led to the development of diseases that are expensive to treat or has led to there being over treatment in such for a cure of a particular ailment.
Medical insurance is a type of insurance coverage that pays for medical and surgical expenses incurred by the insured. Health insurance can reimburse the insured for expenses incurred from illness or injury, or pay for the care
Once Marin Luther King expressed, “Our social welfare system is so much more than just charity. Everyone must help, whether you are rich or poor. Everyone must have the belief that there’s always someone in a much worse situation than I am, and this person I want to help as a comrade”. Martin Luther King’s statement holds true that social welfare and health care should be the act of providing something for someone who does not have it. However, the modern debate with regards to social welfare and health care is that who should be providing the means.
The life expectancies at the age of 55 are 33.63 and 28.02 years for Japanese females and males, respectively. The life expectancies at the age of 58 are 27.1 and 23.2 years for American females and males of all races and
1) INTRODUCTION The world has experienced a steady increase in life expectancy in this century. The dramatic increase in average life expectancy imposes a great challenge in healthcare. World Health Organisation (2015) reported between 2015 and 2050, the proportion of the world's population over 60 years of age will double from 12% to 22%. The most rapidly growing segment of the Singapore population is the older people.