Phase 1 Discussion Board 2 ECON212-1402A-04 Principles of Microeconomics CTU Online Robert. Boiser Prof Joseph Parisi Friday, April 11, 2014 How would the law affect the demand for health insurance? Why? The demand for medical care has been impacted greatly because the growth of health insurance. The demand for healthcare pass decreased because of the increase of out-of-pocket costs.
Most people have high deductibles before the employer will even start to pay some of the health insurance coverage. So while you are trying to meet your deductible you are paying way to much out of pocket by the time the insurance kicks in some people cannot pay their bills or having a hard time keep trying to make their appointments because they are spending a lot of their money on deductibles. Soon everyone is going to have to have health coverage in the U.S. Will they make it so that people can afford the coverage? Will it be decent insurance so that it will be worth paying for? The government needs to really look at the people that they want to provide insurance for.
With the unemployment rates so high; more and more Americans have to go on a government funded plan. These plans are very time consuming for the doctors which again takes away from patient care time. Yes, the incentives were out of hand before with the drug companies, but now the regulations for such are very strict and very limited, why can’t we find a happy medium. Now, with the healthcare reform benefits, premiums, and services covered will be a lot worse. Guidelines and limitations on prescriptions, tests, and specialists will be even more stringent.
The number one cited concern for opponents concerns the initial investment costs of developing such a system. Given the status of the economy and the government’s financial problems, and an immediate investment of an estimated $634 billion and $1.5 trillion over 10 years, the United States simply cannot afford to implement a system in the immediate future (CATO, 2011). A lesser concern, but valid nonetheless, is the idea that government mandated healthcare will eliminate the private healthcare industry and reduce in a lack of incentive to pursue medical professions due to lower earnings and more government control (2011). The most significant concern is what role will politics play in government sponsored universal healthcare. With heated issues such as abortion, stem-cell research, and even assisted death, how can the government ensure medical policies do not change as fast as politicians in
Economists believe that government spending should rise temporarily so the drop in private spending can repair itself. The government is taking an opposite approach to the advice of economists by issuing immediate spending cuts. This fiscal policy is inappropriate for the current economic situation. With large spending cuts, the government could push the economy back into another unwanted recession. With political campaigns for the United States Presidency heating up, Americans should not be
Proponents argue ObamaCare makes health insurance more expensive and constitutes excessive government interference in the economy. The ObamaCare has it's share of pros and cons. The pros and cons of ObamaCare boil down to this: the average American has a lot to gain and little to lose, while those making more, including larger firms and consequently their employees, may notice negative financial effects. While some groups benefit more than others, all Americans
While these "stabilizers" will reduce out-of-pocket costs for those eligible for subsidies, our analysis indicates that they will not have a sufficiently broad effect on coverage to offset the disruption of the insurance risk pool. Specifically, it will be a challenge to have adequate participation among the young and healthy in the future, reformed market. “The Patient Protection and Affordable Care Act of 2010 (PPACA) will affect the costs associated with healthcare. By almost any measure, America has the world’s costliest health care system—and it is getting more expensive by the year. Many argue that exploding health care costs present a serious threat not only to our overall economy and federal budget, but also to state budgets, and that health reform needs to focus primarily on controlling these costs.
No healthcare can leave many lives lost and even ruined financially. Healthcare is unaffordable, in 2007, 62 percent of all bankruptcies were related to medical expenses and 78 percent of the bankruptcies were filed by people with no health insurance. America's Health Insurance Plans (AHIP) that its proposal will achieve universal coverage, curtail runaway healthcare spending, help consumers and purchasers, and improve quality of care. (Versely) In order for healthcare reform to be achieved it is going to take a lot of work politically, but with American’s speaking up it is possible. Over 45 million Americans who are uninsured speak volumes about the problems with our present healthcare system.
According to data found on the Federal Budget website, we can see that medical care, national defense, and social security are the largest parts of expenditures of the U.S. government. As a member of the Congress, I would like to start reducing these three main expenditures. It is vital that we have a better medical care system. Health care in the United States has a long story, our government had tried to find the solution to this huge problem but they have not being successful yet. We are leaving in one of the most powerful nations in the world and we do not have a decent medical care system.
However, the negative effects on health insurance and health market trickle down to the society. The society through high taxes will have to absorb the negative effect of Medicare to the elderly in the society. The society is socially obliged to take care of the elderly and with the rising cost of health acre, which cannot be fully absorbed by the government it will be a small price to pay to keep the elderly healthy. Children who provide finances to cover medical bills for their elderly parents benefit considerably from Medicare because with the rising cost of medical care it would put financial strain on them. “What about the positive for society effects of caring for the elderly?” The family structure has changed considerably over the years.