Case Study: The Cost Of Medical Coverage

Problem of Rising Health Insurance Premiums Rising health insurance premiums have made healthcare unaffordable in the United States. Health insurance premiums in this country have undergone a steady rise over the past few years while incomes have remained the same. More than 50% of individuals with low incomes holding private insurance in the United States are unable to afford their healthcare costs (Collins, Gunja, Doty & Buetel, 2015). In addition, costs related to healthcare are equally unaffordable to 25% of working-age individuals who hold private health insurance policies (Collins et al., 2015). According to the Kaiser Family Foundation/Health Research and Educational Trust (Kaiser/HRET) survey on employer health benefits, employer-sponsored health insurance plans have also had moderate rises in premiums in 2013 for both individuals and family coverage (Claxton et al., 2013). While

Health care expenses are a never ending headache that create numerous liabilities. Liabilities are created when goods or services are purchased on credit and obtained through short- term and long- term loans. Health care expenses create liabilities such that payments are made late or no payments are made at all. In some cases, the cost of health care expenses are unaffordable resulting in those type of payments. To prevent large health care debt, many individuals seek health insurance. Health insurance is provided by private insurance companies or by the government. It covers health care expenses and provides the necessary health care. Although, health insurance is necessary it can also be very costly.

Nidia Garcia Professor: Kyusuk Chung HSCI 314 April 26, 2013 Cost Conundrum & Escape Fire Our Healthcare system is clearly business based according to the article “Cost Conundrum” and on the movie “Escape Fire”. In the movie it had an impacting story of an older lady who had heart problems where she went to a doctor and they were going to charge her thousands of dollars were later she went to a different doctor and they charged her a couple hundred dollars for t he same procedure. I couldn’t believe that in a different office she would get the same procedure done for a lot cheaper than in the other doctor’s office. Also, it surprised me how the medical staff are giving all these medications to our soldiers were they are clearly

For the last five years of my life I have worked in the healthcare industry. One of the biggest issues plaguing our nation today has been the ever rising cost of health care. If we don't get costs under control, we risk losing the entire system, as well as potentially crippling our economy. For the sake of our future, we must find a way to lower the cost of health care in this nation.

The Supreme Court 's favorable ruling on the Affordable Health Care Act allowed for healthcare to be available for many Americans who would otherwise not receive medical benefits. This is because it increases the number of people covered by Medicare/Medicaid, and lowers the cost of insurance through employers. While this idea is good in theory, paying for it is a challenge due to the fact that it will only add to the nation’s already enormous debit of several trillion dollars (Mulvany, 2012). From 2010-2019, the United States is predicted to spend around 400 billion dollars on healthcare. This prediction has prompted lawmakers to reduce spending on Medicare, Medicaid and other welfare programs. The spending cuts will result in less people getting the care they need due to the limited availability of money for care and the increase in the number of beneficiaries receiving

The implementation of the Affordable Care Act (ACA) will only hasten changes that were on the horizon for pharmaceutical and biotechnology firms. Pharmaceutical and biotechnology industries new there was going to be some type of healthcare reform so they began to take the necessary precautions to prepare. There are vital provisions in the ACA related to the pharmaceutical and biotechnology industry affecting Medicare and Medicaid. Legislation in the ACA will provide provision to reduce cost for brand name prescriptions (Rx); this will reduce drug cost for patients, but increase rebates and discounts for pharmaceutical and biotechnology firms, therefore, imposing cost to the firms. The pharmaceutical and biotech industry was instrumental

Affordable Health Care Act: Should the Federal Government or State Government be in charge of our healthcare.

Policy background The chosen policy is the Health Insurance for Former Foster Youth Act (S.1797, 2017). This proposed law at the federal level is intended to secure access to health care for youth who have reached a certain age at which they are no longer eligible for foster care resulting in not having health insurance coverage (S.1797, 2017).

When the Patient Protection and Affordable Care Act (PPACA) was signed into law it attempted to address issues associated with transitional care and improving the quality of healthcare, while decreasing the cost of healthcare (Segal, 2010). The PPACA has expanded coverage for children, the elderly, and those experiencing poverty. As previously stated in other discussion boards, the PPACA has also set provisions and restrictions for insurance companies.

In the United States, the number of uninsured continue to increase everyday with no solution. "As of today the number of uninsured American remained at 10.9 % in the fourth quarter of 2016"(Holahan, 2017). In today economy where unemployment is at an all time high, millions of peoples are without insurance due to unemployment. There are also a lot of uninsured American that are employed, that can't afford insurance.

As of 2008, the Center for Medicare and Medicaid Services (CMS) identified falls as a Hospital Acquired Condition (HAC). HAC is a complication or comorbidity that occurs as a consequence of hospitalization and is high volume and/or high cost, and be reasonably prevented using evidence-based guidelines (Radey & LaBresh,

The launch of the Affordable Care Act (ACA) website was a disaster but not surprising at all. Ethics is certainly involved with the development and launch of this new system. ACA aimed to fill gap and provide insurance to the uninsured population. The number of uninsured expected to enroll in

How Medicare, Medicaid and private insurance benefits affect how the hospital bills and collects revenue. To begin with, a hospital is funded by numerous fairly distinct systems, depending on who is paying. Medicare program for the aging normally pays hospitals a flat payment per hospital case. With the federal-state Medicaid program the poor, sightless and disabled, hospitals obtain either one case-based expenses or a two set amount of dollars per day of inpatient visit (per-diem payments) or (3) fees for single services and supplies . The levels of the payments are set individually by the state managements. In numerous states payments are greatly lower than the full cost of providing the services. Private insurers

High Deductible Health Plans High-deductible health plans (HDHPs), just like the name suggests, involves greater upfront payment by the insured before the insurance takes over the remainder health cost. These plans are nothing new but have increased in popularity in recent years. Growing number of U.S. companies and employers are offering HDHPs. A 2013 data showed 20% of small companies and 40% of large companies offer HDHPs as among the choices for a health plan, where as 20% companies offer HDHPs as the only choice of health coverage (Shenkin et al., 2014). The data also shows an increase of 4% from 2006 to 20% in 2013 of employees under the HDHP. The high health care cost puts an enormous amount of pressure on employers, as they're the majority

The recently passed Healthcare Reform Bill (HR-4872) is a necessity and long overdue. As one of the wealthiest countries in the world, it is a travesty that one hundred percent of our citizens are not adequately covered for their healthcare expenses. According to the United States Census Bureau,