Enjoying the advanced US health insurance system is a major goal for many who immigrate to the United States. So, what exactly is the US health insurance system like? In this issue of the "Immigrant Life" column, Worldway Group presents a basic understanding of the US health insurance system for the reference of our new American immigrant friends:
The US health insurance system consists of private health insurance and social health insurance. What people often refer to as "Medicare" is a government-funded social insurance program. In the United States, many people participate in both private and social health insurance.
US Private Health Insurance
A major feature of US private insurance is that employers pay insurance premiums for their employees (Employer-Provided Insurance), which accounts for approximately 90% of cases. This was an accidental result of government wage and price controls during World War II. Since health insurance was considered a non-wage benefit and was not regulated by the government at the time, employers used it to attract workers. Of course, this situation is also due to certain provisions in the US income tax code.
US Social Health Insurance
In terms of health insurance, the government plays a significant role. The government has established three main types of health insurance programs: Medicare, Medicaid, and implicit subsidies for private insurance through the federal income tax system. The government's Medicaid program largely functions as a fiscal transfer payment. The difference between Medicaid and Medicare is that the former is designed for the poor, while the latter is designed for the elderly; there is no direct connection between the two. The US health insurance industry employs approximately 9 million people, and its annual output value accounts for 14% of GDP, or about $1 trillion. The two largest expenses are hospitals (about 39%) and physician services (about 18%).
As a leading institution in the immigration industry with 18 years of experience, Worldway Group has a comprehensive landing and settlement customer service team. When clients first arrive in the United States, the Worldway Customer Service Center will provide comprehensive landing and settlement assistance services, including assisting with airport pick-up for the first entry; assisting with bank account opening procedures; assisting with applying for a Social Security card; assisting with hotel reservations; assisting with booking flights to the US; assisting with contacting driving schools and providing information on driver's license exams; assisting with contacting moving services; and assisting with contacting real estate agents to help with renting or purchasing property, etc.
Worldway Group also regularly provides high-quality services to our long-term clients. Based on the needs of our clients, we regularly hold various types of seminars on topics such as US real estate, education, life, financial investment, health insurance, financial planning, and social welfare. Worldway Group will escort you on your immigration journey. Consultation Hotline: 400-138-2929
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