Healthcare Finance

The Patient Protection and Affordable Care Act of 2010 (PPACA) was designed to decrease health care costs and require health care access to all U.S. citizens. The Act has the potential for reducing the cost of health care in the United States; however, with many risks which could possibly strain the health care system, increase debt, and decrease the quality of care many are concerned.

There are many problems with healthcare in America today. One of them including the astronomical cost. According to CDC.ORG in 2007 the average person spends seven thousand four hundred dollars per year on health care alone. This rise in healthcare is extremely detrimental for families, seniors, and people of all ages. With such a high cost of insurance people are forced to make hard choices in

The purpose of this paper is to review and discuss the current level of national healthcare expenditures and to determine if we as Americans are spending too much on healthcare. The author of this paper will provide examples and solutions where we as a nation should add or cut from the healthcare expenditures. This paper will also detail how the general public's healthcare needs are being paid for, the biggest economic healthcare challenge, why the challenge should be addressed, and how this challenge to be financed.

Health care cost has been constantly rising and a problem in this country for years. Millions go without much needed medical care every year due to the lack of health care. For many the emergency room is their first contact with medical care. The Patient Protection Affordable Care Act (PPACA) intends to significantly decrease the number of uninsured in American. The PPACA, is said to be most comprehensive insurance reform since 1965, (the year in which Medicare and Medicaid were implemented) was signed into law on March 23, 2010 by President Obama. PPACA will renovate the entire United States’ insurance market. PPACA requires most citizens to either purchase health care coverage privately or through their employer, or face a penalty.

The Patient Protection and Affordable Care Act (PPACA) signed into law by president Obama on March 23, 2010 is arguably the most extensive reform of health care law ever to be enacted in the U.S. It will impact the way professionals practice health care, the way insurance companies handle health care as a product, and the way consumers purchase and use health care as a service. The Affordable Health Care Act is primarily aimed at reducing the number of uninsured Americans and reducing the overall costs of health care from an administrative and consumer standpoint. The PPACA requires insurance companies to cover all applicants and offer the same rates to all applicants of the same age

America faces a choice, keep the health care coverage it has, also known as the Affordable Care Act (ACA), or scrap it and come up with something better. While the ACA in its entirety leaves room for improvement could do better, much better. Currently the United States spends more on health care than any other country. According to a Huffington Post article (2013) the U.S. spends about 17.2 percent of their GDP on medical care. Health care per capita is approximately $8,608, second only to Switzerland, which spends $9,121.

In 2014, the U.S. health care spending increased 5.3% to $3.0 trillion, or $9,523 per person, a faster increase than the 2.9% in 2013. The spending increased due to extensive coverage expansions under the Affordable Care Act (ACA) (Centers for Medicare & Medicaid Services, 2014b). In 2014, Medicare spending grew 5.5% to $618.7 billion and represented 20% of the national health expenditure, a faster increase than the 3% growth in 2013. The spending increased due to prescription drugs, physician and clinical services, government administration, and insurance (Centers for Medicare & Medicaid Services, 2014b). In 2014, Medicaid spending grew 11% to $495.8 billion and represented 16% of the national health expenditures, a faster increase

The Patient Protection and Affordable Care Act (PPACA), commonly called the Affordable Care Act (ACA) or colloquially Obamacare, is a federal statute signed into law on March 23 2010 (One Hundred Eleventh Congress, 2015). The Act has the unfortunate status of being the subject of of over 54 votes to either undo, amend or curtail the core provisions of the Act (O'Keefe, 2014). The global consulting group McKinsey has described the Act, along with the Health Care and Education Reconciliation Act amended (The Act, 2010). According Singhal (2011), “the U.S. health care reform sets in as the largest change in employer-provided health benefits in

History was made as the President of the United States signed the Patient Protection and Affordable Care Act into law on March 23, 2010. The Patient Protection and Affordable Care Act (PPACA) delivers access to quality, affordable health care to all Americans. The breakthrough legislation, passed in March of 2010, represents the most significant government expansion and regulatory overhaul of the country’s healthcare system since the passage of Medicare and Medicaid in 1965 (Dix, 2013). The PPACA promises to reduce health disparities, improve access to preventative services, improve health outcomes and reduce healthcare spending. As stated by the Congressional Budget Office (CBO), the PPACA will provide coverage to more than 94 percent of

In 1998, the United States devoted 13% of its economy to health care, and this figure rose to 16% by 2008. However, despite this rise in government expenditure on health care, outcomes for patients remained the same (Obama, 2016). The quality of the health care system in general was not great; health care

The Patient Protection and Affordable Care Act (PPACA) was signed into law by President Barack Obama, on March 23rd, 2010 (Buppert, 2015). This historic piece of health care reform legislation is scheduled for implementation over a four-year period. The legislation was created to make sure that all American residents have access to quality, affordable health care and will create the transformation within the health care system necessary to contain costs (The Patient Protection and Affordable Care Act, n.d.). There are nine primary components for this reform. These include: affordable health

The Patient Protection and Affordable Care Act of 2010 (PPACA)is a highly complex and multifaceted policy in addition to being political controversial. Changes made to the law by subsequent legislation, focuses on provisions to expand coverage, control health care costs, and improve health care delivery system.

On average, according to the Center for Medicare and Medicaid Services (2014), an estimated $9,695 was spent per person in America on healthcare. That's over $24,625 in a 2-person household. A median household income of $53,657 would spend 46% of its income on healthcare. In 2010, under the Obama Administration, the Affordable Care Act (ACA) otherwise known as Obamacare was enacted to advocate that “healthcare is a right, not a privilege” and to make healthcare accessible to millions of uninsured Americans at affordable price (Rak & Coffin, 2013). According to the US Census Bureau, 49.9 million Americans were uninsured in 2010. America is the highest in cost of

There are currently 44 million Americans who were unable to obtain health insurance before the reforms because they could not afford the premiums or because they had a pre-existing condition. “Obama Care” is a tax funded government program which helps these individuals obtain insurance by expanding Medicare and Medicaid and offering cost assistance through health insurance market places. It also provides reforms to the health care industry iin order to cut health care costs and provide affordable health insurance to all. The Patient Protection and Affordable Care Act (or PPACA) originated as a Massachusetts law signed into effect

The main cause for the healthcare reform bill is the rising cost of health insurance for the American citizens. From the 1960s to the 1980s healthcare spending went from $28 billion to $255 billion. By the beginning of 2000, healthcare spending increased to $1.4 trillion. The United States economy has slowly declined due to several factors, the cost of health care is one. Presidents, state representatives, hospital and insurance executives, and economists have tried to attack this huge deficit. There are several things that can be done in order to reduce rapidly increasing health care spending. Some actions that could benefit the United States economy is the stop of wasteful