Domestic Factors: Insurance Companies Essays

It is no secret that the cost of American healthcare is becoming increasingly more expensive. However, the issue of the rising cost of healthcare and its severity needs to be recognized as a major problem. Health prices are steadily increasing in the United States, and there is no sign of it stopping. Since 1970, spending on American health care has grown 9.8%, which is a rate that is growing faster than the economy (“New Technology”.) Furthermore, health insurance premiums are also increasing at a rate five times faster than American salaries, which makes it difficult for families to afford health care coverage (Zuckerman 28). Therefore, it has become an obligation to address why the cost of American health care is soaring and to seek out a solution to lower the cost. Many would jump to the conclusion that the United States simply charges too much for their medical services, but there are deeper influences that need to be analyzed. The causes of the rising cost of health care are people not using preventive health care, the development of modern technology, and the treatments being overprescribed. A possible solution is to have preventive health care services available in clinics of low-income areas.

Not only has the cases of preventable chronic diseases increased over the years affecting half of the U.S population, they account for 86% of the health care costs. Programs and policies that address risk factors and causes of these diseases at their roots would not only promote public health but reduce the cost of health care both in treatment and hospitalization.

The United States is the only remaining industrialized nation without some form of universal access to medical services (Light, 2002). As an industrialized nation, it is shameful to see so many people suffer on various levels due to inadequate access to appropriate health care (Rashford, 2007). Research will show that with equal access to healthcare for everyone in the United States, there would be much more preventative care and therefore the cost for treating chronic diseases could be greatly reduced. The New England Journal of Medicine states that they believe a requirement, in the United States, is broad access to wisely designed programs of health promotion, in which the concept of health promotion is expanded to include a goal of cost reduction. This expanded concept directly addresses the challenge of preventing illness as well as that of reducing health care costs (New England Journal of Medicine, 1993). Did you know that preventable illness makes up for approximately 70% of the burden of illness and the associated costs (New England Journal of Medicine, 1993). Many Americans feel that universal health care is not a role that the government should be involved in however; Medicare, Medicaid, and other federal programs have been shown to improve health for

This report is gives a look at numerous factors affecting healthcare and how a lack of insurance has implications to not just the individual, but society as

Contrary to what many people believe, America’s health status is not quite “up-to-par,” to say the least. Over forty-seven million people in the United States lack health insurance; that is more than 15% of our nation’s population! At first this disturbing truth seems impossible to believe, being as America is one of the most technologically advanced and economically developed countries in the world. “We spend trillions of dollars per year on medical care. That’s nearly half of all the health dollars spent in the world. But we’ve seen our statistics. We live shorter, often sicker lives than almost every other industrialized nation. “We rank 30th in [global] life expectancy” (Adelman 2008). Knowing this brings rise to the question: why are

Every individual in the world deserves to enjoy health and wellness. Maintaining or achieving proper health needs enables individuals to be productive at work and leisure. Traditionally, many people have had barriers obtaining adequate healthcare due to economic constraints or personal inconveniences. Despite impressive technological advances in medicine, the challenge of delivering quality healthcare to the Americans continues to be debated amongst the nation’s political and healthcare leaders. The aging baby-boomers and the increased number of uninsured people add to the equation of population growth which results in limited access to primary healthcare for the entire public. On the

Health care can be described as a continued maintenance and advancement of overall health through constant provisions of medical services. Health insurance is very much needed as it serves as a protection for covered services (1279, Bonewit-West). It is important to have health insurance as it covers costs and you will pay less. Among some of these health insurances there are Medicare, Tricare, Medicaid and they all protect from financial loss without health insurance medical care would be costly. For the most part, financial burdens are mainly due from health care costs especially a burden for low income families, it has become an increasing problem regarding to this in 2010 they created the Affordable Care Act which would change the health care industry and improve the lives of others.

Consequently the U.S. spends more money than any other country on health care, and the medical care that is being provided may be compromised. Research has shown that the lack of health care insurance compromises a person’s health. However, there continues to be unnecessary death every year in the U.S. due to lack of health care

In 1927, the Committee on the Costs of Medical Care was formed. These committees, which included health economists, physicians, and public health experts, researched the American health care environment and produced in 1932 a landmark report Medical Care for American People which revealed the significant discrepancy in costs, quality, and quantity of medical services in the United States. The primary concern is that health care systems do not provide sufficient services to satisfy the health care needs of Americans, especially the minorities. However, people do not have the financial stability to support their health care needs. Therefore, it was proposed to transform the system so that health care would be financed through insurance and taxation (Jost, 2012, p. 54). In fact the initiative was widely supported and the first insurance plans appeared.

This year being an election year means that the American people are confronted with many issues and disparities that plague our nation. One of these hot button topics is that of healthcare. The United States is the only developed nation without a universal healthcare system, but spends the most for health services. With so many Americans lacking the adequate care needed or facing bankruptcy due to piling medical bills, one must look at the health disparities that are causing this super power nation to inadequately serve its citizens.

The topic I have chosen is the history of health care in the United States. We have obviously come a long way in the field of health care. We have undergone many changes and endured some great debates on how we should go about providing health care to the U.S. citizens. How people go about receiving health care varies by country and on the individual. It can be influenced by the economic and social standing of the country including the kind of health policies in place. Everyone has different policies and plans for their personal goals for their health care within society. Organizations of health care are made to meet health needs of the population. According to the World Health Organization (WHO), a well-functioning health care system requires a robust financing mechanism; a well-trained and adequately-paid workforce; reliable information on which to base decisions and policies; and well maintained health facilities and logistics to deliver quality medicines and technologies. Health care can significantly help a country’s economy.

US health care expenditures have been rising quickly over the past few years; it has risen more than the national financial system. Nonetheless a number of citizens in the US still lack appropriate health care. If the truth be told, health care expenditures are going to continue to increase; in addition numerous individuals will possibly have to make difficult choices pertaining to their health care. Our health system has grave problems that require reform, through reforming, there is optimism that there will be an increase in affordable health care and high-quality of care for America. Medicaid, Medicare and private sector insurances are all going through trials and tribulations because of

Overall, the role of health insurance as a financial channel will be mentioned. Monetary business objectives will be contrasted with the altruistic goals of health care as a humanitarian service. The benefits of shifting health care management altogether to the government will be discussed, emphasizing its positive effects on the businesses of the employers and the performances of the employees in the United States.

The standard supply and demand model assumes that the market has perfect information, which means that individuals have full knowledge about prices, quantities, and qualities of goods and services, but this does not quite apply to the health care markets. There is imperfect information on the demand side of healthcare, where patients lack full knowledge of things such as current health condition, diagnosis and prognosis, treatment options, effectiveness of treatments and possible side effects, as well as costs of treatments. Information in the health economy is not only imperfect, but it is also asymmetric. While the demand side has imperfect information, the supply side is much better informed. This means that levels of information differ between patients and physicians, which is the basic problem of the question if doctors act in the best interest of the patients. Patients are normally poorly informed compared to their doctors and therefore at a disadvantage. The market solution to this information asymmetry is the agency relationship.

There are many issues that are causing changings in the healthcare system. Population aging, rapidly increasing costs of healthcare and the growing burden of chronic disease are challenges to health systems worldwide. To meet these challenges will require new approaches to healthcare delivery and comprehensive population health management. Many states are not prepared to tackle this issue yet. The US has the most expensive healthcare system in the world with health status indicators that are only average in comparison