Proposal For Advance Monetary Security By Guaranteeing Against Questionable Occasions

Prior to this shift, government involvement in health insurance services was minimal since it seemed to be under control by the non-profit sector. There didn’t seem to be an urgent need to control or universalize health care at the time. The government’s first interest in the health care industry sparked when employers began providing health care benefits as a competitive advantage for recruiting workers back into the workforce during World War II. To help cope with the rising unemployment rates, the government would offer tax incentives to employers providing these benefits. (add Quote)

The cost of health insurance has changed drastically over the years as it has become more expensive. Depending on personal characteristic, the cost of health insurance may vary. For instance, as individuals grow older the more expensive it becomes. In this case, health insurance is more costly because “older individuals require more health care” therefore “the cost of providing health care is rising” (Madura &Atlantic, 2012). Not only does this affect the high cost of health insurance, but the number of individuals uninsured. As stated by Madura and Atlantic (2012), “about one in every five workers is uninsured” and has increased since then because health insurance has become unaffordable. As a result, individuals tend to seek health care elsewhere as they can no longer

In 1954, Congress passed legislation allowing employers to provide health insurance benefits to employees on a tax-free basis (Sih and Singh 99). This legal provision marked the beginning of the rapidly expanding health care costs still apparent today due to the major incentives provided by the government to obtain employer-based health coverage. The overwhelming popularity of employer-based health insurance has led to a serious market inefficiency resulting from the system of third-party payment. As individuals rely on their insurance companies to pay for their medical expenses, this provides

Health insurance is provided by Medicaid and Medicare to elderly and disabled people and poor children. People working for large companies receive health insurance through their employer. Unfortunately, people working for small businesses, those self-employed, and the working poor are left without options to purchase health insurance at an affordable cost. This creates a divide between the haves and have-nots in terms of health care. Those who have health insurance will access the care they need, but those who do not have insurance will go without. This may include primary care interventions such as immunizations and regular health screenings. Rising health care costs have a direct effect on the number of uninsured individuals and, therefore, a direct effect the number of individuals that can access care.

the recession. For over a decade employer-sponsor health insurance has been on a decline, the

The Great Depression in the 1930’s had been followed by a period of growing income inequality and a shrinking middle class. Due to the economic conditions, Income disparities in access to health care had grown much worse, medical costs were rising, and sickness became a leading cause of poverty. Since few people could afford to pay for medical care welfare agencies began to help pay for medical costs for the poor. By “1940, the population of the united states was 132 million with only 12 million – a little less than 10 percent covered by some form of health insurance”( Scofea, 1994). The growing concern of the increase in the number of people who are uninsured led to the enactment of the Stabilization act in 1942, which imposed wage and price controls but at the same time permitted the adoption of employee insurance plans. The federal government enacted this legislation to prevent employers from raising wages in order to compete for scarce labor in response to the inflation pressure of the wartime economy. Furthermore, the government provided private insurers with a new market for their products by permitting employers to offer health insurance to their employees. In the years that followed, the government passed several regulations that helped reinforced the institutionalization of the employment-based system of health insurance that

Before the Affordable Care Act, 50.7 million Americans (16.7 percent) were uninsured. The main reason for this was money. The majority of these uninsured American families simply couldn’t afford health insurance and those who did have insurance spent a good chunk of their income to pay for it. The percentage of Americans who were covered by employment-based health insurance (the most popular form of insurance at the time) was the lowest it had been since 1987 when the first statistics on

The first problem faced by the Americans after the health care reform entered into force, is the growth of insurance fees. Insurance companies, in order to protect themselves from the increased risk of payment for the treatment of their clients, have raised fees for their services. Therefore, many healthy citizens were against this law because they did not want to take payment for the increased risk of insurance companies. Now, there is a monopoly on the market which allows the companies to set higher prices, and the government provided them by law that all the citizens will have to buy their services. Thus, the authorities of the country provided a steady income for their insurance organizations using the citizens

Since the 21 century there has been nearly 50 million uninsured Americans and as of today the number continues to increase. This has made medical care to projectile. Change has been needed and incompletely answered these last past few years. It a while before this country to get employer mandate of the affordable care act (ACA). Social security was developed in the 1930's with the anticipation of universal healthcare. Then in the 1940's companies started to offer health care packages to their employees as an incentive to get them to work for their company. During the 1950 strong labor unions recuperated and started to accommodate an amplification of health care of health care coverage. Then in the 1990's Clinton administration started to try

The World War 2 era of wage freezes eventually allowed tax-free fringe benefits such as health insurance. Thus, companies were encouraged through tax benefits to provide their employees with health insurance, resulting in many workers today receiving health insurance from their employers. However, economists believe this policy benefits the rich and drives up healthcare costs. By examining the healthcare system and its costs, economists observed that healthcare took up a larger chunk of the US economy than that of other developed nations. Consequently, the implementation of the Cadillac tax on overly generous health plans was meant to keep healthcare costs under control by discouraging nonessential care and encourage preventative care.

Prior to the nation experiencing globalization and free trade, businesses were designed as employee based models, freely offering health care coverage to their

Before “Patient Protection and Affordable Health Care act.” Americans were not required to purchase and the cost of insurance premiums went up to cover the uninsured. Under the previous laws governing healthcare it was not “required” that citizens had insurance, because of this the cost of caring for the uninsured was placed upon the insured. Hospitals cannot turn away people who do not have the ability to pay which was common practice before 2010. This practice raised hospitalization costs, thus raising insurance

Kliff explains that the decision to provide these health benefits at this time was made in the shadow of a wartime tax code. There were taxes put into place that were meant to stop wartime exploitation and help to keep the unions from shutting down production to extract wage gains. However, when health care was protected from these taxes, it immediately became of great value to employees, and companies benefited as they were able to keep it tax-free even after the war had ended (Kliff, 2015).

In 1943, employer-based health care became tax-free by the Internal Revenue Service. By 1960s, around 70 percent of the public was covered by private or voluntary health insurance plan. In 2010, The U.S. Congress marked the greatest change in our health policy since the 1960s. This is when Congress enacted the Patient Protection and Affordable Care Act. This law was intended to address the fundamental problems of the health care system.

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.