I’m working on a health & medical discussion question and need an explanation to help me learn.
You are a new graduate, and you just started work at a medium-sized hospital with an attached clinic. You have been asked to review the five different types of health care insurance plans—that is, Medicare, Medicaid, TRICARE, worker’s compensation, and commercial insurance—and the characteristics of each to make sure that the central business office (CBO) is up-to-date on all of the rules and regulations. It is important to be familiar with these plans and the characteristics of each because they play a vital role in the reimbursement process for your health care organization. Discuss the following:
- List 2 characteristics of each of the five different types of health care plans.
- What are some of the differences between the plans?
Note that it is important to remember that health insurance is a contract between a policyholder (the insured) and a third-party payer or government health program that reimburses the policyholder for all or a portion of the cost of treatment or preventive care given by a health care professional or physician.