The Cost Of Healthcare And Healthcare

1380 Words Apr 8th, 2016 6 Pages
The cost of healthcare and healthcare spending is a key component of any developed economy in that with good facilities there is a good source of human resource. Considerate health spending leads to the development of medical technologies and drugs hence satisfying fundamental social and individual demands for services that brings greater productivity, improved health, and longer lives. As compared to other sectors of the economy in the USA, health care is publicly funded. According to Organization of Economic Cooperation and Development (OECD) public spending in the United States of America accounted for almost half of total spending in the year 2011 as compared to 60-80 percent in other developed countries. The American society is currently grappling with exorbitant health care charges that have plagued the public; the high cost of health care services has been an issue that the ruling class has been grappling with. It has taken both political and social dimensions especially with the agitation of the Obamacare health plan when Senator Obama came into power. The focus of this discourse, though, is not to get into the political and social vagaries of the healthcare system, but rather to focus on the salient issues related to affordable care act (ACA) the American republic.
Affordable Care Act (ACA) or the Patient Protection and Affordable Care Act (PPACA)
The act, which is often nicknamed Obamacare, is the new health care reform law in America that is made up of the patient…

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