Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
conclusion on rising cost of health care
about rising cost in health care prezi
negative impacts of obamacare
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: conclusion on rising cost of health care
According to an article in “The New York Times”, insurers claim that the website for affordable healthcare is still flawed. This article greatly magnify a number of economic applications. The affordable healthcare act in itself is a rather broad topic that involves the intervention of the government to renew healthcare laws. One segment of the law requires all Americans to have some sort of insurance, which in turn effect the demand and supply of healthcare. By the government inventing a new health insurance, this causes the demand for healthcare to become more elastic. Insurers claim the website is flawed and different users become frustrated with the process which is fully computerized. A number of users also say that it has improved a great deal since it was invented and running now in 36 states. Government ownership of affordable healthcare is a potential solutions the natural monopoly on healthcare, however without the discipline of competition or profit motive, there is a tendency for the government to over-regulate and become inefficient. The problem here is the lack of technological innovation, which will be more user friendly and encourage more insurers to be satisfied and receive the services they sign up for. If the government doesn’t fix this issue quickly, it can decrease their market power, causing people to seek insurance elsewhere. “The insurers are in “an unenviable position,” said Brett Graham, although they don’t have the responsibility or the capability to fix the system, they’re reliant on it.” The website is the main channel for people to buy insurance under the 2010 health care law” (New York Times). Due to the new healthcare law the demand for health insurance has increased, which could cause more comp... ... middle of paper ... ...n public responds to this new law. Will privately insurers convert to Healthcare.gov? Bibliography 1. The New York Times; “Insurers Claim Health Website Is Still Flawed” By ROBERT PEAR and REED ABELSON; Published: December 1, 2013. http://www.nytimes.com/2013/12/02/business/white-house-praises-gains-on-health-site.html?ref=todayspaper&_r=0 2. ObamaCare Facts: Affordable Care Act, Health Insurance Marketplace Unbiased Facts on ObamaCare (the Affordable Care Act), Health Care Reform, and the Health Insurance Marketplace. http://www.obamacarefacts.com/ 3. Modern Principles: Microeconomics, second edition; Tyler Cowen and Alex Tabarrok. 1.9 Big Idea Nine: Prices Rise When the Government Prints Too Much Money[Chapter 1]; 5.1 The Elasticity of Demand [Chapter 5]; 13.1 Market Power [Chapter 13]; 13.6 Economies of Scale and the Regulation of Monopoly [Chapter 13].
The Affordable Care Act or “Obamacare” was designed to assure that all Americans regardless of health status have access to affordable health insurance. The Affordable Car Act was signed into law March 23, 2010. The primary goal of this act was to decrease barriers for obtaining health care coverage and allow Americans to access needed health care services (Affordable Care Act Summary, n.d). After the legislation is fully implemented in 2014, all Americans will be required to have health insurance through their employer, a public program such as Medicaid and/or Medicare or by purchasing insurance through the health insurance marketplace exchange (Affordable Care Act Summary, n.d). I will identify three parts of The Affordable Care Act that I believe are important. First, I will talk about the requirement that insurance companies are no longer able to deny coverage to individuals with pre-existing conditions. Secondly, I will explain why physician payments are being shifted to value over volume. Lastly, I will discuss Medicaid expansion and why some states are not expanding at all.
One of the most controversial topics in the United States in recent years has been the route which should be undertaken in overhauling the healthcare system for the millions of Americans who are currently uninsured. It is important to note that the goal of the Affordable Care Act is to make healthcare affordable; it provides low-cost, government-subsidized insurance options through the State Health Insurance Marketplace (Amadeo 1). Our current president, Barack Obama, made it one of his goals to bring healthcare to all Americans through the Patient Protection and Affordable Care Act of 2010. This plan, which has been termed “Obamacare”, has come under scrutiny from many Americans, but has also received a large amount of support in turn for a variety of reasons. Some of these reasons include a decrease in insurance discrimination on the basis of health or gender and affordable healthcare coverage for the millions of uninsured. The opposition to this act has cited increased costs and debt accumulation, a reduction in employer healthcare coverage options, as well as a penalization of those already using private healthcare insurance.
Fontenot, S. (2013). Understanding the Affordable Care Act Bit by Bit: Will Transparency and Sunshine Shrink Costs?. Physician Executive, 39(5), 86-91.
Tate, Nick J.. ObamaCare Survival Guide: The Affordable Care Act and What It Means for You
Before Obamacare was passed, millions of Americans were uninsured, suffered and died prematurely each year since lack of health insurance. Insurance companies could deny any one for pre-existing illnesses or drop them when they get sick, or stop treating them when they touched annual or life-time perimeters. Over 60% of bankruptcies were associated to medical expenses, several of these people had insurance. Insurance companies had no limits on raising premiums. Preventative measures and wellness visits were not covered adequately (Mowrey, 2013).
Obamacare, a government initiative, is based upon an existing fact in America called ‘privatized medical service’. Obamacare has to work along the lines of private businesses – hospitals and insurers in this sense – in order to carry out a government objective. Medical price tags have not actually changed. Rather they have increased citing that government is now freely subsidizing millions of young Americans. The power of price tagging still belongs to the private sector but the access of funds leads to government coffers. I think the implementation as it stands today is a disaster, promoting inefficient government spending and medical
Prisodint Bereck Obeme sognid thi Affurdebli Ceri Act, ontu lew un Merch 23rd 2010. Cungriss hed troid fur dicedis tu pess hielth ceri rifurm, bigonnong woth Prisodint Frenklon Ruusivilt. Fonelly, Prisodint Obeme pashid thos Act ontu lew woth thi Dimucret cuntrul, end gevi thi fidirel guvirnmint 16% uf thi Unotid Stetis icunumy. Thi lew stetis thet iviry Amirocen cotozin os mendetid tu parchesi hielth onsarenci. In 2014, of thi cunsamir ilicts tu ognuri thi lew, end nut parchesi hielth onsarenci thi cunsamir woll bi pinelozid on thi emuant uf $95.00 ur 1% uf thior oncumi. In 2016, thi pinelty reti woll bi mach hoghir on thi emuant uf 2.5% uf thi cunsamir’s oncumi. Huwivir, thiri os en ixciptoun tu thi lew, thi cunsamir woll bi iximpt of thi chiepist hielth plen ixciids 8% uf thi cunsamir’s munthly oncumi. Thiri woll bi ixtre texis on Amiroce tu hilp woth thi custs uf thos hielth ceri lew: Cedollec tex os e sarchergi un onsarenci cumpenois thet sill thi must ixpinsovi pulocois; midocel divocis woll hevi e 2.3 % tex, tennong seluns e 10% tex thet os cumperid tu thi tex un tubeccu. Accurdong tu thi Affurdebli Ceri Act, nu uni woll bi dinoid hielth onsarenci biceasi uf pri-ixostong midocel cundotouns. Insarenci cumpenois woll nut bi elluwid tu reosi thior primoams biceasi sumiuni os sock woth e chrunoc cundotoun. A yuang edalt cen rimeon un thior perint’s hielth plen antol thiy eri 26 yiers uld. Thiri woll bi frii privintovi sirvocis et nu chergi tu thi cunsamir. Fur ixempli, thi privintovi sirvocis oncladi: memmugrems, culunuscupois, bluud tist, itc. Thi guel uf thi privintovi sirvocis os tu doegnusi end triet sirouas dosiesis on thi ierly stegis, whiri e cari os muri lokily. Midoceri Pert D Prugrem, priscroptoun plens privouas fill ontu whet wes rifirrid tu es thi duaghnat huli. Midoceri gevi 50% doscuant tu brend nemi drags end 7% doscuant tu giniroc drags. Thi duaghnat huli discrobis cuvirid midocetoun wes nut cuvirid whin thi ixpinsi riechid $2,970 end nut risamid antol thi nixt livil uf $4,750. Thi duaghnat huli woll bi cumplitily ilomonetid by thi yier 2020. Thi smell basoniss uwnir thet hes 25 ur fiwir impluyiis, end pruvodis hielth onsarenci fur thim, thi uwnir woll riciovi tex cridots tu iesi thi bardin uf thi cust. Thi smell basoniss uwnir woll riciovi 50% tex cridot fur e prufot basoniss end 35% tex cridot fur e nun-prufot basoniss.
McDonough, John E., and Eli Y. Adashi. "Realizing the Promise of the Affordable Care Act--January 1, 2014." JAMA: The Journal Of The American Medical Association 311.6 (2014): 569-70. Print.
The Affordable Care Act (ACA) is a federal that was signed into law by President Barack Obama on March 23, 2010 to systematically improve, reform, and structure the healthcare system. The ACA’s ultimate goal is to promote the health outcomes of an individual by reducing costs. Previously known as the Patient Protection and Affordable Care Act, the ACA was established in order to increase the superiority, accessibility, and affordability of health insurance. President Obama has indicated the ACA is fully paid for and by staying under the original $900 billion dollar budget; it will be able to provide around 94% of Americans with coverage. In addition, the ACA has implemented that implemented that insurance companies can no longer deny c...
Regulation plays a huge role in the healthcare industry. The healthcare industry restrain of health care costs by imposing price controls ignore the long history of failure through that process. Regulated prices prevent markets from efficiently allotting resources, leaning to unescapable deficiencies and failing quality, while boiling improvement and averting care to inequitable black markets. Internationally, tight price controls in Japan manifest many of these failures, while the Netherlands has relished advances in cost and quality by abandoning them for market-based pricing. Government –fixed prices for hospitals in Maryland and under Medicare have worked only to expand costs and the power of providers. Now, with Obamacare increasing the taxpayers’ duty for funding health care, all knowledge proposes that efforts to regulate provider prices will likely prove expensive and counterproductive.
The main advantage of the Affordable Care Act is that it lowers health care costs overall by making insurance affordable for more people. First, it wi...
The Affordable Care Act, more commonly known as Obamacare, is a new health policy created by the American federal government. Its purpose is to make healthcare more affordable and friendly for the people. Unfortunately in some way that does not prove to be the case. It is becoming apparent that Obama may have made some misleading statements to help get the ACA put into action. The ACA is sprinkled with many flaws that call for a reform such as people’s current plans being terminated, high costs, and at minimum some people’s hours being cut by their employers.
With the enactment of the Affordable Care Act, or Obamacare, it seems that the laws of supply and demand have changed since everybody is now mandated to have health insurance or pay a hefty fine to not have health insurance. With the “Health Insurance Exchange,” that also affects the economics of the situation as well, along with the price of everything. Since the Affordable Care Act has been enacted, the laws of supply and demand for insurance has changed drastically, and maybe not for the better.
The medical cost coverage depends on the insurance plan one buys which includes bronze, silver, gold, and, platinum levels, and the high the premium equaling larger benefits and more coverage of medical costs (Blumenthal & Collins, 2014). Since the ACA has passed the direct affect was the increase of insurance coverage resulting in the uninsured rate falling to 13.4% in May 2012 with more than 20 million more people covered (Blumenthal & Collins, 2014). Even though the uninsured rate is at the lowest in recent history it is important to consider that the ACA does not replace existing private and public coverage, it is not universal coverage but a stepping stone to better healthcare, and the ACA market place is only open for the previously
According to Medicaid.gov (n/a) the Affordable Care Act (ACA) is a health reform that was established to better health care security for all Americans, it includes expanding coverage, holds insurance companies accountable, lowers health care costs, guarantees more choices, and enhances the quality of care for all Americans. The ACA is to help provide quality health care at a low price for those who struggle financially. Many Americans cannot afford health coverage, or their jobs do not provide coverage, therefore causing them to live without insurance then being penalized at the end of the year for not being covered. The ACA allows more Americans to have easier access to health insurance, saving them from paying a penalty. The ACA provisions