This week Indiana’s plan to extend health insurance to currently uninsured adults received a green light from the U. S. Depart of Health and Human Services and the Office of Management and Budget. The plan would provide health coverage to approximately 130,000 adults and would be open to individuals who earn less than $19,600 (single person) or $40,000 (family of four) per year.Preventative care would be a big part of the health insurance plans. At least $500 per person would be spent on such care. Individuals would also have $1,100 invested into a health savings account which would cover the costs of their other medical needs (the accounts would be funded by the state and by contributions from the insured person). After the money in the fund is exhausted, private insurance would kick in to cover additional costs.
Indiana will end up paying $190 million a year for the health insurance plan and most of the funding comes from a 44 cents increase in cigarette taxes passed earlier this year. The federal government has also promised to provide about $1.1 billion in matching funds over the next five years. Read source Article
