Healthcare Financing For An Aging American Population

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Healthcare financing for an Aging American population

The following research paper discusses the healthcare financing for an aging American Population. In the discussion, it addresses both the negative and positive perspective of the healthcare financing of this particular population as well as personal position and thoughts.
Overview of Aging and Health Care Financing in U.S
Just like other parts of the world, the United States is no exceptional, it is an aging society. Between the year 2000 and the year 2050, the number of the elderly is predicted to increase by 135%. Again, the population of the persons aged 85 years and above, which is the group that will mostly require health and long-term services, is predicted to …show more content…

The government programs such as the Medicaid and Medicare, person’s fund, and the private health insurance plans, usually through the employers pay the health care in U.S. Healthcare in the United States is usually technologically advanced but pretty expensive. In the year 2010, the costs of health care were roughly $2.6 trillion dollars. For decades, the total amount of money spent on this service has increased more than the growth of the economy at large. For instance, in the 1960s, health care spending approximately used to be 6 percent of the GDP, that is, the gross domestic product, but it increased in 2010 to 17.6 percent (David, ‎ Clements, ‎ Gupta, 2012). GDP is the total amount of the market value of services and goods produced with a country’s borders, the primary measuring mechanism used by a government to monitor short-term economy of a state.
The GDP in percentage spent on health care in the United States is significantly higher than other nations. More so, the amount of money spent on health care per person in relation to the gross domestic product person, that is, the GDP in total divided by the number of the residents available in a particular country, is as well higher than that of other countries. The United States spends about $8233 in health care per person. This amount is much as twice as the amount France spends, and France is thought to have excellent health care services. The U.S partly spends more on health care because the

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