Economics Healthcare Paper

This paper discusses the advantages and disadvantages of a single payer healthcare system in the United States. The constant rising cost of health care has lead to many individuals trying to understand their health coverage option and also to search for other different health care packages which will save them money. One of the most controversial options that will save people money is the single payer health care. This system involves citizens paying taxes for the various health care services which are offered by the government to every man, woman, and child. This system has been used in Canada and various European countries for years now. This system involves everyone paying taxes for different services provided by the government. With this package, the government guarantees every individual regardless of his/her economic and social status, age and health status health care when injured or ill. This package will save a lot of lives as everyone’s health needs will be catered for by the government. The physician will have an easier time in the hospital after admitting a patient and diagnosing him. This system eliminates the complex billing procedure which various physicians have to follow every time they diagnose a patient. This billing statement has to be signed by the personnel in charge, so introduction of this package eliminates this process. With everything provided by the government, the price of health care provision will be reduced because the hospital will become a nonprofit organization. The hospitals will no longer have many corporate executives who draw gigantic salaries and bonuses. This will also eliminate the need for the corporate executives to maximize profits for the hospitals shareholders. With this system, you do not have to worry about being denied the health care services because of money or insurance coverage. This will eliminate the need for health indemnity covers. Even though this increase in taxes will seem high, it is quite lower