Discuss the pros and cons of healthcare costs being passed on to employees from the employers. The costs in healthcare have been parasitizing to a major extent on the family budget for almost a decade. So much so that it has impacted their capacity to afford day to day necessities in life. The employees have huge debts on their credit card which makes them decrease their retirement and other savings so as to pay for the debts in healthcare (“Rising…”2015).
The government in this regard might consider increasing the taxes in order to meet the cost of healthcare. The increase in taxes will have a negative implication in the society; for instance, the prices of basic commodities will increase making life difficult, especially to the low social class individuals. Additionally, employees in the private and public sector will experience the impact of increased taxes through reduced net salaries; this may attract a negative reaction from the
SUPPORT: There has been an astronomical rise in concern about high health care costs among people and members of congress. There is an increased awareness that despite the higher costs, health care system is not producing the better outcomes. And as member of the political system, we do not want health care spending to affect other economic indicators. CONCLUSION:
This brings out a good point. Business large or small would still be able to help employees with their medical expenses by contributing to programs such as Health Savings Accounts, Health Reimbursement Accounts without repercussion. These programs are already under the IRS guidelines (IRS, 2014). We can make Universal Healthcare work for the American
This key element restricted health insurance companies in increasing premiums and an opportunity to renewal. The cons with this element is the increase of health insurance premiums across the board. Healthy people are paying the same premiums of someone
The effects can be made through claiming through managed care by the organization. The managed care for the delivery and principles of finances, the patients and physicians must follow the policies and procedure of the health plans. The drug benefits in a pharmacy can be reduced in costs from 40 % to 10% comparing to people who are members and the non-members. The reimbursement if any the mechanism should be used by the MCOs that are effective. The MCOs should make sure that as much as the cost is low the services should be of a quality to make the patient keep coming.
An employee Wellness program will facilitate a healthier lifestyle, which will benefit the employers, as well as, the employee. Happy, healthy employees are more productive, less likely to be absent, and the savings in insurance premiums could be significant. Furthermore, there are significant improvements
Prior to the implementation of the Affordable Care Act (ACA), few people anticipated employer-provided health care would disappear as a major player in the United State healthcare arena. However, ACA adoption and has put more than 169 million employees at risk for losing their workplace coverage. Several studies indicate employer-based coverage will decline rapidly over the next decade as the traditional US system is displaced by the healthcare exchange system. While consumers grapple with finding affordable coverage options and providers adjust to the new norms, there is another wrinkle in the mix. In January, Health and Human Services (HHS) Secretary Sylvia M. Burwell announced the agency's push toward value-based and alternative reimbursement models.
Healthcare is very important: It gives you insurance for accidents, injuries, births and deaths. It could help a person pay for their elderly relative getting sick; for a new driver getting into a car accident; or a new baby entering the world. Healthcare is a topic that is usually overlooked, especially by millennials; which is one of the reasons I chose this topic. With the topic of healthcare constantly popping up left and right (and changing) over the past few months, it’s very important now more than ever to stay educated about the constant healthcare bill changes, and definitely if you are old enough and have enough money to legally own and pay for healthcare. And though, ironically, my family doesn't own any of the following types of
According to the Kaiser Family Foundation, there are currently 3 million Americans in the coverage gap; there is a substantial number of Americans the Act does not address. The Affordable Care Act, as with any major legislative action, has its advocates and viewpoints. Supporters of the Affordable Care Act point out that the Act allowed Americans, who would not be able to afford health insurance without federal assistance, to purchase affordable health insurance. Through coercion, the Act has decreased the number of uninsured; nonetheless, a minority of Americans have benefitted from federal subsidies whilst the vast majority of Americans have endured a great deal of suffering. Another alleged consequence of the Affordable Care Act is the improved quality of care-- a major fallacy.
In order to maximize employee participation, the employer must manage employee demand while reducing the number of health benefit plans offered. An employer can enhance the attractiveness of benefits associated with direct contracting by increasing the cost differential between directly contracted and insurance-sponsored services. Finally, employers can mitigate redundant utilization of services by managing employee co-pays and deductibles. Direct contracting improves patient comprehension of pricing and quality measurements, thus increasing price transparency. Both employers and providers begin to share an interest in maintaining employee-patient
Lastly, round with the staff and discuss face-to-face with them about the changes (HonorHealth, n.d.). Employee Predictions to Change Change is always difficult for employees in an organization, which can create conflict within the organization. When a change such as a merger occurs, the executive team needs to place themselves in the employee’s shoes; this will allow them to understand what reactions might occur so that the recognized risk to the organization can be decreased (Wickford,
As the baby boomer generation reaches retirement, which the numbers will double by 2030. they are wondering if there will be health care as they grow into their golden years. They are looking towards the government for the answer. With the cost of healthcare continuing to rise, the government which its divided Congress needs to come together to get healthcare on solid ground and make sure there is enough for everyone for years to come. Currently, the government cannot afford to pay for our insure access to healthcare without limitations.
Moreover, life happens, an employee might have to render care to a sick family