Rising Health care costs: how to control it In U.S., spending on health care has been growing at a faster pace than spending in rest of economy since 1960s. The government was spending 4.7% of the gross domestic product (GDP) at that time, which grew to 16.2% in 2007, and is expected to rise to 20% of GDP by 2017(1). Without any drastic measures, according to the Congressional Budget Office (CBO), these numbers will project to 25% of GDP in 2025, 30% by 2035, and 49% in 2082 (2). The major components of U.S. health care spending are hospitals (31%), physician and clinical services (21%), pharmaceuticals (10%), and other spending (25%) (3).
One of the most sensitive subject in the United States today that is most discussed and debated revolves around the issue of our healthcare system. Unlike the many developed countries, the healthcare system in America is not public, meaning that our country cannot provide free or affordable healthcare services to its citizens. So everyone has to pay out of pocket for their treatments or for their visits to the doctors office. Healthcare is one of the most expensive thing in the U.S, our country spends so much money on healthcare than any other country around the world. Over the last decades, no other aspect of the healthcare system has lost its shine as much as aggressive health care.
Health care has gone through a great evolution through the years. Before 1965, individuals older than 65 years old received inadequate healthcare and more than half of this population did not have coverage (Reinhard, 2012). Due to this predicament, the need to identify issues and implement health policy was imperative to improve health care. Consequently, Medicare was introduced with the goal to mitigate the health issues during the 1960’s and to improve the healthcare availability for individuals 65 years and older. Since then, Medicare has gone through numerous changes in order to incorporate other population needs. Fore example, in 1972, individuals less than 65 years old with disabilities were incorporated in Medicare with the same goal
In addition to the dismay of many healthcare professionals, patients, and citizens who are uninsured, several flaws about the current healthcare system show the necessity for reform. The three flaws that exacerbate the current healthcare crisis are: the tax code and tax breaks, the lack of preventable care and adequate care of chronic diseases, and administrative costs. A single payer, universal healthcare system can resolve the major flaws of the
With this rising cost per enrollee and the increasing number of enrollees due to the aging population, the sustainability of the program looked bleak. In order to retain sustainability, the way in which Medicare processed reimbursements continued to evolve. Constant change in the reimbursement system
As people age, health becomes more of a concern as people more prone to health problems. Supporting Evidence: This was the time were many people were discovering themselves, so they did drugs, had unprotected sex etc. So most of our taxes will go to these Baby Boomers to pay for their health-care (PhillyMag) This also means that it is to the elder’s advantage because they can take use of the free healthcare The fact that they are growing old means that they are developing issues physically and in some cases mentally (Stat Canada)
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.
Health care has been at the forefront of debate and public policy in the United States for decades. Ever since President Theodore Roosevelt proposed health care reform during his 1912 run for president, reform has been a policy position often espoused in American politics (Palmer 1). Certain types of health care reforms have been successfully implemented, such as Social Security in the 1930s, Medicare in the 1960s, and finally the Affordable Care Act in 2010. As the goal of the Affordable Care Act is to provide care for every American, the healthcare law is the closest the United States has ever approached to a single payer system; a health care system that provides universal care to every American. Despite that, current systems within the
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.
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
The affordable care act presented the United States with the most extensive overhaul since the passage of Medicare and Medicaid in the 1960’s. The act was a response to staggering statistics on the price of healthcare and the resulting uninsured rate within the United States. The affordable care act uses Individual Mandate and Health Insurance Exchanges to combat major factors causing high insurance cost and low insured rates. As with most reform, the public has not been one hundred percent unified on the potential effectiveness of the Affordable Care Act.
“Healthcare Reform 101,” written by Rick Panning (2014), is a wonderful article that describes, in an easy-to-understand language, the Patient Protection and Affordable Care Act, signed into law March 23, 2010. The main goal of the Patient Protection and Affordable Care Act was to provide affordable, quality healthcare to Americans while simultaneously reducing some of the country’s economic problems. Two areas will be covered throughout this paper. The first section will include a summary of the major points and highlights of Panning’s (2014) article, including an introduction to the ACA, goals of the signed legislation, provided coverage, and downfalls of the current healthcare system. The second part will be comprised of a professional
In coming decades, Scientists predict the number of people will rise to 13.8 million. The aging population is increasing because of low birth rates and increased life expectancy. As America 's population ages, there will be other health issues emerging. The most common health concerns for seniors are diabetes, arthritis, heart disease, and cancer. All of these conditions are the leading cause of death.
Between 2010 and 2050, the United States population ages 65 and older will nearly double, the population ages 80 and older will nearly triple, and the number of nonagenarians and centenarians—people in their 90s and 100s—will quadruple. (KFF, 2015) Trustees of Medicaid are forecasting that in 2024, Medicaid will start running out of funding. Although there is little evidence in the trustee’s projections it is still something that needs to be looked as more and more people are getting older and are needing benefits vs a number of people putting in. Every day there are 10,000 people turning 65 or older.
The number of persons over the age of 65 will double by 2030. The older population may also present with comorbidities that demand more physician services. Of the 83 million people over age 62, 14 million will have diabetes, and 21 million will be obese. However, first year enrollment in medical schools has declined every year since 1980.Other conditions that will drive demand for physician services include rates of heart disease and cancer, two of the leading causes of death in the U.S. It is projected that the shortage will most affect the primary care sector of physician services.