What the average person pays for health insurance rose by 50 percent between 2003 and 2008, from an average of $7,200
What the average person pays for health insurance rose by 50 percent between 2003 and 2008, from an average of $7,200
The purpose of this paper is to review and discuss the current level of national healthcare expenditures and to determine if we as Americans are spending too much on healthcare. The author of this paper will provide examples and solutions where we as a nation should add or cut from the healthcare expenditures. This paper will also detail how the general public's healthcare needs are being paid for, the biggest economic healthcare challenge, why the challenge should be addressed, and how this challenge to be financed.…
This article discusses the price tag that comes along with ObamaCare. Many believe that insurers have created plans with more benefits that also cost more. Prior to the Affordable Care Act, insurance premiums increased by 14%. Too many people may not be able to afford this high cost, especially those who are self employed. The author informs the American public that there may be yet another increase in the insurance premiums. This…
Dr. Don Berwick, Head of Medicare/Medicaid 2010-2011 whom talks about how unsustainable the healthcare system is. We’re spending almost twice as much in America as any other country on earth. Yearly, we have been spending $2.7 trillion in healthcare. The average per capita cost of healthcare in the developed world is about $3,000, but in the United States, it was around $8,000 annually, more than double. Due to these astronomical amounts, healthcare has not become affordable anymore. Insurance companies are raising their rates they are charging for premiums, covering less on patient care, which in turns takes even more money out of our pockets because we now not only have to pay the premiums, but are now left with the portion of the care given that we must pay for out of our pockets.…
American people look at their insurance bills, co-pays and drug costs, and can 't understand why they continue to increase. The insured should consider all of these reasons before getting upset. In 2004, employee health care premiums increased over 11 percent, four times more than the rate of inflation. In 2003, premiums rose 10.1 percent and in 2002 they rose 15 percent. Employee spending for coverage increased 126 percent between 2000 and 2004. Those increases were lower than expected. (National Coalition on Health Care, 2005, Facts on health care costs.)…
Today, the United States has what many consider to be the worst health care system in the world. The United States has the most expensive system as it accounts for nearly 17.9% of the Gross Domestic Product (GDP) (The World Factbook, 2013). This amounts to a cost of $8608 per person (Health Expenditure per Capita, 2013). The extreme cost of health care make it the leading cause of bankruptcy throughout the United States, and the reason why there are over 48.6 million people who are uninsured with no access to health care at all (Howard, Access and Underserved). This high cost has not translated…
Over the years of our countries history, the delivery of our health care system has tried to meet the needs of our growing and changing population. “We hold these truths to be self – evident that all men all created equal, that they are endowed by their creator with certain unalienable rights that among these are life, liberty, and pursuit of happiness.” The United States is upholding the principles of the Declaration of Independence by providing Americans with a Health Care system and not doing so by providing quality, affordable, and accessible healthcare to our citizens.…
The new health care policy provides more coverage to a larger percentage of American and is more cost-effective for the United States’ budget especially during these dire economic conditions, and is a moral cause and sign of community that all Americans should strive for. The problem with universal health care, however, lies in the fact that above all concerns; the main goal of insurance companies within the United States is to make a profit. Insurance companies seek to provide satisfactory care without major financing and costs of their clients. On the other hand, clients seek plans that provide the most care without paying a fortune. These opposite goals thus result in the polarization between insurance companies and their clients, which has in turn lead to monumental costs for both sick and injured Americans as well as insurance companies. Even more so, these opposite goals result in a drastic percentage of Americans who are left insured. With the 45 million Americans as of 2005 who live in the country uninsured, the United States is the only developed nation that still does not have a universal health care policy. This statistic demonstrates the sheer quantity of people that need healthcare in America, as well as the urgent need to support these people. There exists yet another fiscal issue concerning universal health care: how will we pay for all this? The most obvious answer is an increase in taxes and the cutting of extraneous federal spending. Yes, by having universal health care the government will have to budget…
“Thirty-two of the thirty-three largest developed countries have some form of universal healthcare coverage”; we are the exception (www.who.int/en/). The United States healthcare costs are the highest of all developed nations, as well as the highest death rate for people who are uninsured. Healthcare has always been a for profit industry in America. The industry has maintained record profits each year while more people face financial ruin because of their healthcare costs. Healthcare costs are the leading cause of bankruptcy in the United States, and there continues to be many families on the verge of filing. Healthcare costs cannot be managed by middle/lower class individuals in the United States. The private market has failed to provide affordable access as well as quality of care; Universal Healthcare will provide preventable care, access without having to pay, and peace of mind to American citizens. We currently offer two federal/state programs to help those who need healthcare coverage: Medicare, for those sixty-five years of age and above, and Medicaid for low income people/families. Both of these programs cover medical costs, but they do not cover all medical costs or preventable care. Our country needs to eliminate these two programs and…
According to health care statistics published by HealthCareProblems.org in June 2008 nearly 50 million Americans is not covered by insurance companies. Another 25 million are underinsured, which means they pay for coverage often very high rates and still encounter hardship paying for medical bills. Many of these people have major health issues and amount of money they owe for medical services is substantial. Among them are people that due to chronic medical conditions or serious illness are not able to change insurance companies and shop around to get better premiums. To keep coverage they have to agree to pay higher premiums, deductibles and…
Around 30% of Americans have problem accessing health care due to payment problems or access to care, far more than any other industrialized country. About 17% of our population is without health insurance. About 75% of ill uninsured people have trouble accessing/paying for health care. Comparisons of Difficulties Accessing Care Are Shown To Be Greater In The US Than Canada. Access to health care is directly related to income and race in the United States. As a result the poor and minorities have poorer health than the wealthy. There would be no lines under a universal health care system in the United States because we have about a 30% oversupply of medical equipment and surgeons, whereas demand would increase about 15%. The US denies access to health care based on the ability to pay. Under a universal health care system all would access care. There would be no lines as in other industrialized countries due to the oversupply in our providers and infrastructure, and the willingness/ability of the United States to spend more on health care than other industrialized…
Without a doubt healthcare costs are rising out of control. Not one of us are happy with the increases, but we have to understand what the reasons are for the increases in healthcare. American people look at their insurance bills, co-pays and drug costs, and do not understand why they continue to increase. The insured should consider all reasons behind the increase before getting upset. In 2004, employer health care premiums increased over 11 percent, four times more than the rate of inflation. In 2003, premiums rose 10.1 percent and in 1002 they rose 15 percent. Employee spending for coverage increased 126 percent between 2000 and 2004. These increases were lower than expected. The site to look up information on the cost of health care coverage and the breakdown on the cost is (National Coalition on Health Care, Facts on health care costs). Premiums have risen five times faster than workers’ wages, if medical spending continues to rise by just two percent more than a person’s personal income, by 2040 Medicare and Medicaid will rise 8.4 percent of gross domestic product this year’s 15.6 percent by 2040, according to Congressional Budget Office projections. If all government programs stay at the same size relative to the economy, the budget will grow from 19.9 percent of GDP in 2003 to 27.1 percent by 2040, (http://www.cato.org/sites/cato.org/files/pubs/pdf/tbb-0306-15.pdf). There are huge impacts of the rising costs of healthcare. Many people cannot afford health insurance today and struggle to pay for their medical needs. Of the families that do have health coverage, 50 percent are concerned about having to pay more for the coverage in the future, while 42 percent fear they will not be able to afford coverage at all if the rate increase keep s going the way it is. This leads to believe one of the reasons for health care cost increases: cost sharing or cost shifting. When an individual or a family does not have insurance, and cannot…
not covered by insurance must be absorbed by all the rest of us, which means even higher…
The health care system in the United States has several major problems. Among all of them, insurance policy is the core issue. The Unites States is the only developed country, except for South Korea, that does not provide healthcare for all of its citizens (Farrell). According to the research, there are still 50.7 million people uninsured, which is 16% of the United States population (about one in six people), or the combined population of 25 average-sized states, such as Oklahoma, Connecticut, Iowa, Mississippi, and Kansas (Parker-Pope). The main cause is that the price for health insurance is too high. Many people are not able to pay insurance premiums and over these years the situation has been getting worse and worse. During the past eight years, insurance premiums have nearly doubled, resulting in health insurance moving farther out of reach for millions (Farrell; Klein).…
The United States Is the only current modernized western nation that does not offer free public health care. Much like education, health care should be a right to all Americans, not just a privilege to the wealthy and middle class citizens.…
One concern is cost and spending. Health care costs are rising for nearly everyone- employers, workers, retirees, providers, and taxpayers; sometimes in unexpected, erratic jumps. Costs are a particular source of anxiety for families where someone is seriously ill and unable to afford health coverage. National health care spending now exceeds $2.2 trillion; with the reform in place tax credits will be available for middle class families and small business: Millions of Americans will be eligible for tax credits to ensure that their health insurance is affordable and accessible.…