HSA 510 Healthcare Market

Financial burdens greatly limit the system’s accessibility; however, many in the U.S. are unable to fully utilize either option. Census estimates from 1999 indicate that 43 million Americans live without health insurance even though 75 percent of them have a full-time job or live in a household with at least one member working full-time (Mueller, , 5) In addition to the totally uninsured, census estimates also reveal that approximately 42 million other people in the U.S. are underinsured. This means that they have some insurance, but are still unable to afford all of their needed prescriptions, tests, visits to physicians, or hospital

The U.S. healthcare system is remarkably complex, and even healthcare workers struggle to understand it. The U.S. population gets health coverage by government programs, employers, and private insurance. Notably, because of the complexity and fragmentation of the health care system, there is a percentage of the population that remains uninsured. According to CNN Money, the uninsured rate in the U.S. dropped from 18.2% in 2010 to 10.3% in 2016, this drop was under Affordable Care Act(ACA) (). The goal of the ACA was not to give health coverage to all the uninsured population, rather it was to try to decrease the percentage of the population that remained uninsured(). There is a lot of inequality in the distribution of health among the U.S. population

As stipulated in the act, even those with preexisting health conditions can now access the cover without any limits by the law (Whitman, 2015). Consequently, more than 16 million Americans who previously did not have the cover now have the cover. As a result, due to the large pool, insurance premiums paid are much lower. More Americans can now afford to go for checkups hence increasing the chances for early detection of critical health conditions. New illnesses that previously did not exist are now being discovered, especially in the states that the Medicaid expanded

The idea of passing the health care reform was to expand health care coverage, however, in order to do so, many changes must be implemented in order to fulfill the ACA 's promises. The first of which is allowing all individuals to acquire health insurance no matter the age, pre-existing conditions, or other unfair practices. Statistics show that “half of Americas” have a preexisting medical condition in which with the passage of the ACA, it allows individuals to acquire health insurance without the worry of having to pay high insurance bills (Moisse, 2011). The reason why having preexisting health conditions is no longer a factor in acquiring health insurance is because with the passage of the ACA (as discussed earlier, it was made a mandate to acquire health insurance) it is expected that it will balance out economically with the people who require more medical help to their healthier counterparts that do not require as much medical attention (Goodnough, 2016).

The Affordable Care Act of 2010 (ACA) had put more open doors for Americans to live healthy and longer life. Be that as it may, few individuals are living without insurance due to monetary results. They put their life in the danger of human services administrations. They are having less medicinal services results, getting low quality of care than the general population who has insurance. The proportion of uninsured and insured individuals soar by 25% in 2000. Individuals messes with medical coverage exceptionally and disregarding it in few point in view of their financing issue and lack of education. As indicated by Institute of Medicine (IOM, 2002), 18,000 individuals kicked the bucket without getting a decent social insurance benefit since they were

In 2010, President Obama signed the Affordable Care Act (ACA) which puts into place health insurance reform with the purpose of providing health care access to those who are uninsured and underinsured. The goals of the law are to make health care affordable, accessible and higher quality. In 2013, open enrollment began and now that three years have passed, it is a good time to evaluate how this law impacts Ohioans (U.S. Department of Health and Human Services, 2014-a). In this paper, I will discuss health care reform in Ohio, examine positive and negative outcomes, and look at the effect of the ACA on health care economics.

Since the passage of the Affordable Care Act (ACA) or ‘Obamacare’ in 2010 and its implementation in 2014,there has been a steady decline in the uninsured population of the United States of America. The number of Americans with health insurance, has reached a historic peak. According to recent data from the Census Bureau about health insurance coverage, the number of uninsured Americans fell from 33 million the year prior to ACA implementation to 29 million in 2014.The total uninsured rate dropped by more than 4 percent since the health care law took effect. The ACA has significantly reduced the number of Americans who were not able to acquire health insurance due to poverty, unemployment, or having a pre-existing condition.

The vulnerability of the uninsured population originates from that they are less likely to use health care services and have poor health as a result ("The Uninsured ", 2010). Furthermore, the number of the uninsured has constantly increased every year as a reflection of the decrease in the rate of employer-funded insurance. These rates continue to decline regardless of increases in public coverage and the ongoing implementation of the Patient Protection and Affordable Care Act until 2014.

The rising cost of health care has led companies to stop offering health insurance for employees, and private insurance is often too expensive for people to afford. Many families make too much money to qualify for Medicaid, but are unable to pay for private health insurance. Health care costs in the United States have more than doubled in the last twenty years. Insurance premiums are rising five times faster than wages, and Americans are spending more money on health care than people in any other country. The average amount one person pays per year for health care in the United States is 134 times higher than the average of other industrialized countries (“Health Care Issues”). Even people who have insurance aren’t guaranteed coverage. Many insurance companies find loopholes to avoid paying for expensive medical treatment, leaving people with massive debt from medical bills. Medical bills and illness cause over half of all personal bankruptcies in the United

Individuals who are uninsured tend to be at risk in several ways. They include not having access to preventive care, holding back in seeking treatment may result into more serious illnesses thereby making treatment even more expensive for them to afford. Most public health facilities do not satisfy the needs of many uninsured Americans. Unlike their counterparts, uninsured individuals are

Data show that the number of uninsured Americans has greatly reduced over the past 2-3 years. However, prior to the adoption of various provisions of the Affordable Care Act (ACA), there were over 41 million people uninsured in 2013 (Kaiser Family Foundation, 2014). The number of people without health insurance, especially children, has steadily increased throughout most of the past decade. Children without health insurance are more likely to suffer from preventable and treatable illnesses, including their long lasting related effects, than their insured peers (Majerol et al, 2014). Majerol et al. also demonstrate that the uninsured are less likely than those with insurance to receive preventive care and services for major health conditions and chronic diseases.

Leading up to the enactment of the Affordable Care Act the United States of America had been in a major recession with consistent increases in medical costs in conjunction with increased rates of uninsured populations. Pre-existing conditions were a major concern for people wanting to move around in the job market or shop

Throughout the 20th century and into the 21st century the United States has always had a realization that there was a problem with obtaining affordable health insurance. The Patient Protection and Affordable Care Act (ACA) also known as Obamacare, was signed into law in March 2010. This law enables people who were unable to afford healthcare the ability to obtain a healthcare plan at an affordable rate. In 2009 a survey was taken as to the amount of people in the United States that carried health insurance. In table one below you can see over 50 million people in the United States did not have any type of insurance, which is close to 17 percent of the population (see table 1 below). “According to the Kaiser Family Foundation, “32%

Hospitals and health systems in the U.S. are experiencing a remarkable transformation in their business models directed from numerous influences that are projected to ultimately turn the industry around. Pressures include providers troubled with the quantity of services they are responsible for, to providers who concentrate on presenting high-cost services that give emphasis to sustaining healthy populations (Dunn & Becker, 2013).

Healthcare economics has drastically changed over the years. It makes up for one sixth of American budget (Johnson, 2009). Health care economics has drastically changed partly due to new advances in technology over the years. Money is the factor of health care economics. Money drives economics and makes up health care and how far it can go. Economics will continue to change and financial advisors who have more education on health care economic advances will be beneficial to keep with changes in economics.