Imagine there is no requirement to purchase auto insurance to drive a car on our roads, not that auto insurance does not exist, but there is no regulation on when or even if it needs to be carried. In this situation it seems likely that many would not choose to purchase insurance until they need it, likely after an accident. Insurance companies then would reasonably assume that all, or most of those that looked to purchase the insurance were those who are in need of it, those with broken cars. Now translate that into the healthcare market, if healthcare is
Although this is under Obamacare exchanges, it shows that state-run exchanges can effectively control the cost of premiums. A state that has efficiently and effectively controlled the health insurance markets is California. Through their state-run exchanges, California has managed to control the type and price of care provided by setting up a system that required all health insurers to provide the same deductibles and benefits within each of their coverage levels (Scheffler, Para. 7). Their plan is set up so that “insurers in all marketplaces must offer a defined set of “essential health benefits” in all plans and may offer plans at four coverage levels: platinum…followed in descending order of cost and coverage benefits by gold, silver, and bronze. ”(Scheffler, Para. 7)
With taxes from healthcare slowly creeping into one’s income, a person under government healthcare is essentially paying the same, if not more, than a person under independent healthcare (Peikoff). Whether it is the scary policies in the PPACA or the destruction of market drive through government handouts, government healthcare is not the best route for the US. A free-market system provides much more advantages than a government system. A free-market system also puts more freedom in the hands of a consumer.
Additionally, the idea is shared that the ACA is helping to promote private health insurance companies. This growth in companies is believed to expand growth in the economy. The ACA also has prohibited the limitations set on health insurance by previous health care needs. People of higher risk that might cost the insurance companies lots of money, used to be denied health insurance. Insurance companies used to have the authority to screen potential clients, deny them health insurance for pre-existing
The American health system has been controlled by private, all-for-profit companies who couldn’t care less about the health of a human, but are more worried about maximizing their dollars. If the Affordable Care Act is repealed, or “done away with”, tens of millions of Americans will be without adequate health insurance. This is exactly what Americans
Having health care would help people with savings and being able to bring food to the table along with paying the home bills and other expenses. Therefore, many state governments should be doing something in regards to helping americans with problems in needing health care or even food support. If the government puts no effort in this the amount of people in poverty could grow making a large impact in today's
In America, universal healthcare would undermine principles important to the functioning of society; specifically, it would undermine individual liberty, free enterprise and free
In the United States, many people are without health care insurance due to having a financial crisis. Most elderly, the disabled, and lower-income families can contest to being without health care coverage at all. Not being able to afford or have healthcare insurance occurs because medical insurance is very costly. Selecting the right health care insurance can greatly impact a person life expectancy. With the help of government support programs, many people can have the choice of healthcare insurance.
Medicare and Medicaid are two government funded health insurance options for disabled, low income or retired patrons. Each program provides different health care benefits and provide different options for your unique situation. Medicare being the better quality but more pricey option for insurance whereas Medicaid was made for low income families who cannot afford a more high quality insurance. Medicare is the federal health insurance program for people who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease qualify to get this type of medical insurance. Medicare Part A and B are provided by the federal government.
Background The Affordable Care Act (ACA) is officially referred to as the Patient Protection and Affordable Care Act was enacted into law on March 23, 2010. It is estimated that prior to the enactment of the ACA, 44% or 81 million people between the ages 19-64 were either uninsured or underinsured in the United States (Schoen, Doty, Robertson, & Collins, 2011). The populations most likely to be uninsured or underinsured are individuals with earning between 133-200 % below the established federal poverty guidelines (Schoen et al., 2011). Consequently, 80% of individuals with earning under $20,000-$39,999 were uninsured or underinsured (Schoen et al., 2011).
The United States has always relied on private health insurance to allow people to access health care. Even though the United States has relied on those private insurance companies, the government has implemented programs like Medicare, Medicaid and State Child Health Insurance (SCHIP). Medicare helps the elderly, Medicaid helps the poor and SCHIP helps the children of the working poor. These programs helps certain groups of people in America, but these programs are not enough to help everyone across the nation. In hopes of helping every person across the nation, The Affordable Care Act (ACA) created and signed into law by President Obama.
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.
Medicals costs were spiraling out of control, twenty-five years later after the launch of Medicaid and Medicare under President Lyndon Johnson in 1965. Statistics revealed that in 1991, Americans spent $733 billion dollars on medical care alone (SOURCE 1). With medical costs soaring, statistic further revealed that millions of Americans were unable to afford basic health care. Only forty percent of low income families received Medicaid, while thirty-seven million Americans were left with no insurance at all (SOURCE 1). Faced with a crumbling health care system, President Obama was forced in 2010 to reform Medicaid with an extension act formally known as the “Patient Protection and Affordable Care Act” (ACA).
I believe as a society we have moral obligation to provide healthcare to all the citizens of our nation. How would that become possible is the question? No matter what we choose as the solution to this problem, there will always be pros and cons. I think the answer is socialized medicine. Can a country like the US have socialized medicine?