Financing and Structuring Health care Research Paper

Financing and Structuring Health care - Research Paper Example how the patents will pay for the healthcare extended to them, what they will pay for the healthcare services consumed by them, and the range of options and innovations that could be facilitated to the ailing in the sphere of healthcare payments (Walshe, 2006, p. 34). In that context, a thorough understanding of the American healthcare system will be partial, if it is devoid of an understanding of the related financing mechanisms. Health insurance, health coverage, or healthcare coverage is the term used in the United States of America to refer to any program that helps the patients pay for the healthcare services and products used by them during the course of their treatment. Considering the fact that USA is a land of diversity, there exist varied types of health insurance types to suit the needs and aspirations of diverse types of individuals and groups. For what is health insurance but a risk coverage mechanism to assure that individuals and their families have access to quality and timely healthcare. The three main types of health insurance prevalent in the United States of America are individual health insurance, group health insurance and state sponsored health insurance (Green & Rowell, 2010). Individual health insurance covers the healthcare needs of the primary policy holder and one’s family (Green & Rowell, 2010). As the policy holder is required is required to pay for such type of insurance, it happens to be the costliest type of health insurance. Some of the benefits offered by the individual health insurance policies are personalized healthcare, tax exemptions, and a smooth continuation of the insurance plan, as long as the premiums are paid without default (Green & Rowell, 2010). Group health insurance happens to be the most preferred type of insurance. It is also known as the employer sponsored health insurance. In group health insurance, an individual and one’s family accrues the insurance benefits by the virtue of one’s employment (Green &