Macroeconomic Analysis : Potential Effects On Economy

The issue of veterans’ health care has dominated public discourse for many years, with various statistics

The main economic challenge for the healthcare system in the United State will be the rising expenses associated with Medicare and Medicaid. The Governments share of healthcare spending is predicted to rise to 31 percent by the year 2020 (Keehan, Sisko, Truffer, Poisal, Cuckler, Madison, Lizonitz, and Smith, 2011). This may jeopardize the economic stability and financial security of the nation.

In the United States, Veteran’s health care at an economical rate is a continuous debate. It is warranted that the health care should improve at a constant rate to uphold the health needs of veterans, new and old. Government has the veterans association (VA) and with all the help it has available for veterans there are still times when that care is not enough. There are so many individuals that are without health care because of one reason for another and it leaves many injured and hurt veterans without the care they need and deserve. Better access to health for veterans, men and women is important since many new problems such as PTSD have become better understood and need more focus and to be better

The fiscal year 2010 increased funding for the Department of VA affairs by $25 billion over the next five years. The budget includes an 11% increase in resources funding of 55.9 million dollars. The budget increases health care funding for veterans enabling the VA to provide time, high quality care to 5.5 million veterans. The budget provides for a collaborative pilot program with non-profit organizations to help veterans avoid homelessness.

Men and women serve in the United States armed forces in hopes of receiving the promise of a dependable income and reliable benefits. The primary influence for those joining the armed forces is tuition reimbursement followed by health care benefits (Clever, & Segal, 2013). The majority of enlisted military only serve for seven years and often work in minimum wage jobs without health insurance after departing from the military. Before the implementation of the Affordable Care Act, veterans could only utilize veteran hospitals and outpatient clinics for military related health problems (United States Department of Veterans Affairs, 2016). Once the Affordable Care Act was initiated, all veterans could utilize veteran medical services for any of their health care needs. The problem needing to be addressed is the number of veteran facilities available to provide treatment for the vast amount of veterans now qualified for medical services.

Veteran affairs health care programs were established in 1930 to provide ongoing care and rehabilitation to veterans injured during wartime service. Today, the VA provides for a wider range of inpatient, outpatient, and long-term care services to veterans. The VA is now giving treatment to those veterans who have low-income and medical conditions unrelated to military service. Though veterans who have served our country are valued higher than many, there are still many veterans who are not insured and do not have proper access to healthcare. “In fact, just 8.9 million out of the 22 million veterans in the U.S. are enrolled in VA health benefits, which are reserved for those who have been disabled through military service or are very low-income.

The amount of money used to care for veterans continues to increase as the years go on. CBO states that “In 2010, VHA spent $1.9 billion to treat 400,000 OCO patients. VHA obligated $4,800 per OCO patient, on average, compared with an average of $8,800 per patient for veterans from all eras who were being treated at VHA.” The amount of money continues to increase in order to care for veteran patients. The more veterans fight in the war the more money it would take to care for all of the veterans. The medical costs associated with VHA’s treatment of OCO veterans could, in CBO’s estimation, total between $40 billion and $55 billion over the 10-year period from 2011 through 2020, depending on the number of military personnel deployed to overseas contingencies in the future and the rate of growth of medical expenditures per

In FY13, approximately 3.7 million Veterans received compensation and of those, approximately 1.28 million or 34 percent of those were rated between 0 and 0-20 percent. Additionally, it is important to note that in FY16, 25 percent of the increased disability ratings went to Veterans who were rated at 20 percent or less. Rehabilitating and educating Veterans in greater numbers and reducing the number of claimants that receive life-long disability benefits would significantly affect the both the benefits workload and healthcare access by:

The U.S. has the best healthcare facilities in the world. One of them is the Veterans Administration Health Care. If the U.S. is going to have the best facilities, the government is going to have to figure out ways to bring in more money for healthcare to the Veterans. It cost money to help Veterans, especially

The issue is veterans are waiting much too long to be cared for in hospitals that were created to care for them. According to Modern Health (2016), the reason there are so many delays in providing health care for veterans is the paperwork involved in claims from providers is slow to be filed and reimbursement is even slower. “GAO [Government Accountability Office] reports from 2014 and 2015 found community providers waiting months or even years to receive payments from the VHA [Veterans Health Administration]” (Muchmore, 2016). If providers have to wait so long to receive payment, they would probably rather take their skills elsewhere; where payment is timely.

Highlights from the Presidents’ 2018 budget request for VA, includes 82.1 billion in discretionary funding, largely to health care. The request to Congress for increase is $4.3 billion (5.5 percent) from the previous budget of 2016. Mental health related injuries such as PTSD $8.4 billion. Our new President has taken a more aggressive approach to provide funding for the VA to provide the necessary financial means to treat and prevent PTSD.

“In 2013 U.S. health care spending increased 3.6 percent to reach $2.9 trillion, or $9,255 per person, the fifth consecutive year of slow growth in the range of 3.6 percent and 4.1 percent. The share of the economy devoted to health spending has remained at 17.4 percent since 2009 as health spending and the Gross Domestic Product increased at similar rates for 2010 - 2013”("National Health Expenditures 2013 Highlights," 2013). The cost of health care spending greatly affects the way that individuals budget

In recent decades, health care expenditures for the average American citizen have escalated. In the 1980s, the total cost of care came to two hundred fifty three billion dollars. In 1990, the value skyrocketed to seven hundred fourteen billion. Today, the United States healthcare cost averages to two and a half trillion dollars, which is more than three times the amount of the 1990 value. In other terms, an average American pays about seventy seven hundred dollars a year for the price of healthcare. As one of the highest rates in the world, this figure accounts for about sixteen percent of the nation’s gross domestic product (Auerbach).

This report will explain the meaning of Brexit and introduce the influence of Brexit on macroeconomic in Britain. The definition of Brexit is that the Unite Kingdom (UK) will exit from European Union (EU), which raising concern around the world. Brexit has drawn greater worldwide attention, then the increasing number of questions which about the damaging of British macroeconomic has been referred. According to “Brexit means Brexit”, which said by the prime minister of UK. The government of Britain is determined to deliver an exit from the EU. Moreover we can not ignore that the UK has already been a semi-detached

The theory of macroeconomic analysis deals with economic aggregates. This theory is very critical and important in decision making by planning agents in the economy (Mankiw, 2010). Macroeconomics analysis is of great and paramount importance to the three entities that comprise of any economy who are the households, firms and the government institution. The households in the economy are majorly interested in the macroeconomic analysis to determine and know how a slight change in general price level is likely to affect their welfare through what they can be able to purchase with the same level of nominal income. It is also very crucial to the households in explaining how changes in the nominal interest rates is likely to influence the cost of borrowing money by the households for investment purpose. Macroeconomics analysis looks at the aggregate effect of those changes putting into consideration all the households in the economy in order to come up with just one decision measure that is characteristic of the overall economy (Samuelson, 2008).