In 2014, the Singapore news released a statement regarding the pioneer generation package in line with Singapore turning 50 in 2015. Prime Minister Lee Hsien Loong announced that about 450,000 seniors from the Pioneer Generation will receive a Pioneer Generation Package (PGP) focused on healthcare. This Package will ensure lifelong benefits that cover different types of healthcare needs and also other extra subsidies. The purpose of this paper is to provide insights to the advantages and disadvantages of the PGP as well as comparing PGP with other healthcare services. This paper will cover the pros and cons of the PGP, comparing with other Singapore healthcare policies and also the healthcare policies taken in Britain.
Firstly, the advantages are that they will receive more subsidies such as receiving more benefits of MediShield Life but paying less premiums than they do for their MediShield. Also extra subsidies will be given at specialist outpatient clinics (SOCs), polyclinics, and General Practitioner (GP) clinics under the Community Health Assist Scheme (CHAS), on top of other subsidies which all of citizens are able to enjoy. Moreover there will be annual top-ups to their Medisave accounts. However the disadvantages are there are concerns about whether this will be sustainable provision to meet the needs of subsequent generations as well as older Singaporeans who do not belong to the ‘Pioneer Generation’. Moreover the Medishield premiums and Medisave contributions
Because females use health care services at greater rate than males on behalf of themselves and their families, warranting reasonable insurance procedures is of significant importance. The Affordable Care Act has already removed the approach of “rescission.” Insurance policies have been permitted to be cancel, or even removed, when a recipient gets ill. They are no longer permitted to do this. The health by-law also wants insurers to pay at least 77 percent of premiums on supplying health care, as disparate to organizational price, or reimbursement enrollees an allowance.
Another major point Lockwood made was that President Trump would be terminating the requirement of health insurance because he does not agree with the amount of money being paid to insurance companies to offer premiums to low income or young customers. Lockwood says we should expect to lose all federal support for Medicare and Medicaid, which is currently helping thousands of people. By cutting out these programs, it not only hurts the customers but also the hospital employees. Growing up in a family of medical professionals, Lockwood points out a perspective that usually goes unseen. While the families impacted largely are those
The fourth observation from reviewing Indiana’s financial report is it is expanding state funded health care, primarily Medicaid. Medicaid has a staggering impact on Indiana’s financial statements. In 2016, “the largest portion of the State’s expenses is for Welfare which is $14.3 billion or 44.4% of total expenses” (14). Medicaid was the primary expense under welfare, totaling $10.6 billion in 2016 (14). In 2015, 44.8% of total expenses were welfare related (Indiana 2015 Comprehensive Annual Financial Report 14); however, Medicaid costs in 2016 were $9.2 billion resulting in a 15.2% cost increase.
As the government wanted to cut healthcare spending as it is a major part of the deficit.
Megan McCardle and Claudia Chaufan have brought many different opinions about healthcare reform. In “Liberals Are Wrong: Free Market Health Care is Possible" by Megan McCardle, she has argued that is not available for people to purchase the right and needed healthcare. Besides that, Claudia Chaufan has stated that people can purchase their own healthcare plans and also mentioned about the single-payer plan. Although having some shared ideas about health insurances, each of the authors had their significant concepts. Based on “Ken Arrow’s critique of healthcare markets”, Megan McCardle has indicated her opposition against him.
In order to insure people, not just by coverage when they need it most, but for all health care issues. People must obtain coverage or pay per-month fee which can be hard for some low income families. Coverage can only be obtained during annual open enrollment periods not just any day of the year. One can owe the fee due to forgetting to pay premiums, and then not be able to get coverage until next open enrollment.
With those that are insured favoring a moral hazard and overusing the system could lead to a negative impact on our health care system leaving those who truly needing services paying a higher premium or
This Act proposes several mandates and provisions to reduce the cost of healthcare for both the federal government and individuals, increase the availability of health insurance for all Americans, and to eliminate discrimination of very ill or potentially ill individuals in need of health insurance. The Act was introduced as a means to shrink the exponentially increasing costs of healthcare in the United States. As promising as it is, there will be many more reforms after to ensure the target goal of reducing healthcare spending is achieved. As with any reform this large, patience and constant upkeep will be needed. Due to the largely political nature of the Affordable HealthCare Act, it will be important to note how upcoming elections will affect healthcare in the United
The Affordable Care Act brings many people insurance in the United States that is
Healthcare costs in the United States are constantly rising straining the budgets of families and employers. As a result of the rising healthcare costs, insurance premium rates have been also increased. The premiums rates are increasing more rapidly than income which is part of the reason why Americans aren’t able to have access to affordable health insurance. Although the Affordable Care Act has been passed, there are many people still uninsured. The purpose of the Affordable Care Act was to improve the quality of care, provide more Americans with access to affordable insurance, and minimize healthcare spending in the United States.
The United States is the only Western nation that does not authorize free health services to its people. The cost of healthcare to the uninsured is beyond prohibitive, and insurance plans are far more captivated with profit costs, rather
The United States no longer posses the ability to effectively drive down premium costs through the means of insuring healthy people. For example there is a town with ten houses, and, on average, one house a year burns down. If no one in the town pays for insurance they have a 10% chance of their house burning down each year. If everyone in the town pays insurance they spread the risk because no matter whose house burns down no one will have to pay anything as the insurance company will cover the cost of the house that burns down each year and make a slight profit. This is the same logic applied to the whole medical insurance market.
In the article “Ten Things Trumpcare Changes” it states that “under Obamacare, health insurers are prohibited from charging higher premiums for individuals with pre-existing conditions. Trumpcare allows states to obtain waivers to allow insurers to charge more for people with pre-existing conditions who have a gap in coverage.” but for those “states that do obtain the waiver, they will be given $8 billion for people with pre-existing conditions who don’t maintain continuous coverage. The legislation also provides $130 billion that states could use for this purpose, or for expanding coverage and reduce costs in other ways.” Also, the new bill will change “Obamacare limited insurers to charging older adults a maximum of three times the rates charged to younger adults, but with Trumpcare will raise the ratio limit from three to five.”
Analysis of Healthcare to Thesis Healthcare is important to our well being, which is why we have free health care. That also means that Canadians have the burden of paying higher taxes in order to have free health care. Argument #4: The Aging