Health Insurance

Comparing CHIP to Medicaid: What You Need to Know

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Children's Health Insurance

CHIP (Children’s Health Insurance Program)The Children’s Health Insurance Program (CHIP) provides affordable health coverage to children in families that earn too much for Medicaid but can’t afford private insurance. CHIP was created to address the increasing number of uninsured children in America, ensuring they have access to essential medical care regardless of their family’s finances. Origins and Legislative BackgroundCHIP was created by the Balanced Budget Act of 1997, signed into law by President Bill Clinton, in response to the estimated millions … Read more

Making Sense Of Health Insurance Terms: A Simple Guide

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Health Insurance Problems: Know the ChallengesHealth insurance is meant to help people pay for medical care and protect their finances, but it has several challenges for individuals, families, and healthcare systems. Even though it has benefits, figuring out health insurance plans and what they cover can be very confusing. Here are some main challenges people face with health insurance: 1. Higher Premiums and Out-of-Pocket Expenses One of the major problems in health insurance is increasing premium and out-of-pocket expenses. Premiums, the monthly cost of insurance, and deductibles, the amount paid before insurance starts paying, have risen sharply in recent years. For many people and families, these costs are a heavy financial burden. Studies demonstrate that insurance costs have risen faster than wages in the U.S., with which healthcare has become too … Read more