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Economic essay private vs public health insurance
Economics of healthcare
Economic implications of health insurance
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Health care is skyrocketing out of control. It is essential for individuals to have health care and preventive care in order to stay and keep healthy by having health care. Preventive measures are essentials to avoid health issues from occurring in the first place. Individuals need to budget for prevention and health care costs.
Health care is essential for all individuals to have, but unfortunately, is not affordable for all people. With the cost of health care rising, it is becoming harder and harder for people to spend money on other necessities. Due to this fact, it is crucial that individuals figure out how much health care will cost for them each year. They also need to make sure that they are able to pay for it and can still live comfortably with their money left over. I have come up with my own plan regarding my annual expenses for my personal health care and it is important that I am able to afford it plus my other needs.
The average person spends about $5,182 on personal health care items and procedures per year. This includes requirements such as soaps, toothpaste, vitamins, doctor visits, and dental appointments. I plan on spending around this amount annually for my own private health care necessities. The two most expensive things I am going to have to spend money on are contacts, which are around $200 per year, and doctor visits which have prices that can vary per year depending on the person and how often they go into the clinic. The cost of doctors’ appointments also depends on how much healthcare coverage you receive ("Health Care Facts: Why We Need Health Care Reform”).
There are preventives that can be done in order to lower the costs for these personal healthcare items and procedures. For example, by eating hea...
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...emyplate.gov/healthy-eating-tips/ten-tips.html>.
"Health Care Facts: Why We Need Health Care Reform." Health Care Facts. N.p., n.d. Web. 29 Mar. 2014. .
"How To Improve Your Eyesight Naturally." The Traffic Police. The Traffic Police, n.d. Web. 31 Mar. 2014. .
Palmer, Brian. "The Case Against the Annual Checkup." Slate Magazine. The Slate Group, n.d. Web. 31 Mar. 2014. .
"President's Council on Fitness, Sports & Nutrition." Facts & Statistics -. N.p., n.d. Web. 31 Mar.
2014. .
Access to healthcare provides financial stability by assuring people that they will not be financially destroyed by injury or illness. Additionally, when people can afford regular medical care they tend to avoid chronic problems and financial stress. In a study provided by the American Medical Students Association, researchers reviewed the costs and benefits of universal health care. They came to the conclusion, after reviewing other articles and statistics from multiple sources, that, “The annual cost of diminished health and shorter life spans of Americans without insurance is $65-$130 billion.” (Chua 5) This comes from people not having adequate health care and then losing their jobs because they...
Healthcare has been a topic of discussion with the majority of the country. Issues with insurance coverage, rising costs, limited options to gain coverage, and the quality of healthcare have become concerns for law makers, healthcare providers and the general public. Some of those concerns were alleviated with the passing of the Affordable Care Act, but new concerns have developed with problems that have occurred in the implementation of the new law. The main concerns of the country are if the Affordable Care Act will be able to overcome the issues that plagued the old healthcare system, the cost of the program, and how will the new law affect the quality of the health delivery system.
However, our system is based on money. The more money you have to spend, the better medical services you will receive. ?According to the Bureau of Labor education at the university of main (2003), America spends more money oh health care than any other nation, "$4,178 per capita on health care in 1998?, compared to the average of $1,783. (BLE., 2003, p.23). Still an estimated "42.5 million Americans are living without health insurance", which prevents them from receiving medical treatment. (Climan, Scharff, 2003, p.33). The numbers of un-insured Americans continue to rise. Tim Middleton (2002) states, ?insurance premiums grow at a rate greater than wages,? when you have a low-income job. (¶ 9). With our current economy recession, taxes are rising and small business employers are unable to purchase health plans for their employees. Employees are realizing that they are unable to gain insurance from their jobs and beginning to speak out about the high price of health care.
Wise, N., & Taylor, F. (n.d.) Moving Forward With Reform: The Health Plan Pulse for 2012 and Beyond. Retrieved January 16, 2012 from
Despite the established health care facilities in the United States, most citizens do not have access to proper medical care. We must appreciate from the very onset that a healthy and strong nation must have a proper health care system. Such a health system should be available and affordable to all. The cost of health services is high. In fact, the ...
..., M., Thomas, E., Smolowitz, J., & Honig, J. (2007, Dec 07). Essential health care: affordable for all?. Retrieved from www.cinahl.com/cgi-bin/refsvc?jid=374&accno=2004209136
Health care is one of the most debated issues in the United States today and it 's necessary to understand the basics of this problem. Approximately 50 million people living in the United
Currently in the United States, acquisition of affordable health insurance plans through employers and private corporations is one of the main topics in the political landscape between liberals and conservatives. The traditional way of obtaining health insurance is either by subtracting a certain amount of payout from one’s salary/paycheck or pay out of pocket. However, many people do not have access to health care because of the high costs associated with poor insurance plans that require individuals to pay high premiums and deductibles, which may or may not contain good benefits such as free preventative care. In addition, due to the past economic recession in 2008, many employers could not afford to pay for health benefits and canceled numerous plans for many employees. This effectively increased the rate of uninsured Americans as well as the increasing health care costs.
As American transcendentalist Ralph Waldo Emerson once said, “money often costs too much”. This famous quote can be interpreted in many different ways; it seems very logical in parallel to the idea that money can result in a high social and moral cost. As individualistic as American society is, the preference for monetary stability has become a higher priority for Americans than general societal health and stability. It is then not a surprise that the Affordable Care Act (ACA, also known as ObamaCare) has become one of the most controversial health care reforms as it looks to improve the health care system for the country whilst conflicting with cost reform at the same time. Essentially, the ACA is a program that works to entirely reform the government’s health insurance by raising taxes in order to improve quality and affordability. This taxation is done in order to provide everyone, those from different socioeconomic backgrounds, with a good and competent health care plan. The purpose of this essay is to show the importance of the ACA, as general health is more important than monetary cost.
There has always been a large cost on any type of health care that is offered in a country. Whether you are paying it in taxes, directly or through insurance. Dental costs have always been high there have always been substitutes for it. But since there has been an increase in health insurance coverage people can pay for the necessary that they need to have done. Some statistics that have been found
Rising medical costs are a worldwide problem, but nowhere are they higher than in the U.S. Although Americans with good health insurance coverage may get the best medical treatment in the world, the health of the average American, as measured by life expectancy and infant mortality, is below the average of other major industrial countries. Inefficiency, fraud and the expense of malpractice suits are often blamed for high U.S. costs, but the major reason is overinvestment in technology and personnel.
Obamacare Facts. “Facts on Deaths Due to Lack of Health Insurance in the United States.” 2016.
...ions are ageing and increasingly, people are living with one or more chronic conditions for decades (World Health Organization, 2011). If the government can assist in regulating preventive health measure for citizens it will years down the line prove to be a cost effective measure. World Health Organization (2011) states that many chronic conditions were avoidable had the person ben able to receive the preventive education and care needed. Business owners may experience a slight inflation in cost to insure their employees but it does not amount to nearly half as much that will be saved by all citizens having access to preventive medical care.
ObamaCare Summary: A Summary of Obama's Health Care Reform. n.d. Web. 18 03 2014. .
The cost of US health care has been steadily increasing for many years causing many Americans to face difficult choices between health care and other priorities in their lives. Health economists are bringing to light the tradeoffs which must be considered in every healthcare decision (Getzen, 2013, p. 427). Therefore, efforts must be made to incite change which constrains the cost of health care without creating adverse health consequences. As the medical field becomes more business oriented, there will be more of a shift in focus toward the costs and benefits, which will make medicine more like the rest of the economy (Getzen, 2013, p. 439).