Health Care Spending Essay Sample
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Health Care Spending Essay Sample
Health care is something that is always going to be around because it is needed by all entities. Health care is a resource that is not readily available to all due to the issue of affordability. Many people try to find the most affordable health care insurance, but sometimes economic hardships do not allow for people to get insured or remain insured; therefore leaving many people without health care insurance. The government has tried to help many people by providing those who qualify with Medicaid and Medical but those who don’t qualify are still left uninsured and with the burden of overwhelming medical bills.
Even though health care is at times unaffordable it is still an entity that is used by all people. Often time’s people cannot afford to pay for health care expenses or health care insurance, therefore leaving many people with massive health care bills. In the United States, which has both a high level of health care spending per capita and a relatively high rate of real growth in spending, the share of GDP devoted to health care spending grew from 9% of GDP in 1980 to 16% of GDP in 2008. This 7 percentage-point increase in health care spending as a share of GDP is one of the largest across the Organization for Economic Co-operation and Development OECD.
The level of current national health care expenditures
The predictability of health care cost has recognized for years by citizens, businesses, and government agencies such as the Centers for Medicare and Medicaid Services (CMS), the Bureau of Labor Statistics, U.S. Census Bureau, and the National Center for Health Statistics, to name a few. The level of health care spending is little to nothing among the citizens and businesses. The number of uninsured is enormous and most of the citizens that are insured are covered by Medicare and Medicaid. The cost of health care is ridiculously high and rising and has for decades. According to the Centers for Medicare and Medicaid Services (CMS), the U.S. had been projected to spend over $2.5 trillion on health care in 2009, or $8,160 per U.S. resident. Health spending in 2009 had been projected to account for 17.6% of GDP. In 1970, U.S. health care spending had been about $75 billion, or $356 per resident, and accounted for 7.2% of GDP. Health care spending has risen about 2.4 percentage points faster than GDP since 1970. CMS projects that by 2018, health care spending will be over $4.3 trillion or $13,100 per resident, and account for 20.3% of GDP.
Whether the spending is too much or not enough
This question can be answered in different ways, because everyone’s perspective of health care spending is unique. The writer believes that health care cost is too much. The writer’s experience with health care cost over the years has a spiraling rollercoaster going from excellent to poor. The U.S. Army had an excellent health care plan with no out-of-pocket costs. After leaving the military and gaining employment at Prudential Insurance Company, out-of-pocket cost had been minimal and the experience of receiving health care had made life pleasant.
The writer makes too much to be eligible for Medicaid and not enough for insurance through the employer. Medical services require a substantial amount of out-of-pocket cost because of no health insurance. The writer also believes that there are several people in the nation in the same category as the writer. People have stated that health care is not affordable and for that reason, more people are dying from preventable infections and diseases.
Where the nation should add or cut, and why
Should the nation add or cut health care cost? Health care should be cut so that everyone can afford it. Health care should not be a privilege, it should be a right. If health care reduces costs, the number of uninsured would drop tremendously. Also mortality and morbidity will decrease as a result of affordable health care for everyone because more people will go to be seen for wellness checkups and routine visits and not so many unnecessary visits to the emergency rooms. Cuts in health care costs need to be addressed in every corner of the health care industry and changes in the way health care delivers; it would make a huge difference, too. Physicians’ charges should be reasonable and steady and not all over the place to ensure the salaries promises when graduation. Prescription drug prices should be cut to the cost of generic brand price. Kickbacks and price discrimination needs to be stopped immediately, because these actions are uncalled for and inappropriate to policy and non-policy holders alike.
How the public’s health care needs are paid for while indicating the percent of total expenditures they represent
Health care needs are paid for by various insurance companies and government agencies. In the year 2009, it projects that the payment of public health care needs are spread thin for several services such as 3 % for public health, 2 % for research, 4 % for buildings and equipment, 31 % for hospitals, 21 % for physicians, 10 % for other professional services, 5 % for nursing homes, home health is 3 %, prescription drugs is 10 %, other medical products is 3 %, and government and private administration is 7 %. Distribution of payments are made by Medicare, Medicaid, private insurance companies like Blue Cross Blue Shield, Aetna, Humana, Cigna, to name a few, and some people who pay out-of-pocket for services. Certainly, all of the payers that are involved in the percentages listed above have not been named due to the large quantity, but it should be clear from the entities that were mentioned how the public’s health care need are paid for.
Future Economic Needs of the Health Care System
If spending continues at this alarming rate, health care will be something that is not attainable by people. Health care now is somewhat still attainable for people, but if the cost keeps raising most people will be without health care. The government’s help or assistance with program such as Medical and Medicaid will most likely not be attainable either because there will be no means to continue to fund these types of programs. The health care crisis is not going to get any better due to the fact that more people are living longer and more people will require more health care services such as long term care, and more medical visits. The health care system needs to start brainstorming a way to get the medical model to refocus back on the patient and the overall well-being of the patients. Right now the government is able to assist some people with Medical and Medicaid, but that will only last so long if the government contains with this type of spending, and not looking at the issues of making health care more affordable for people.
How you envision these needs will be financed
Funding now is being directed into researching new technologies and marketing the existing medical technologies. Any alternations economics of health care will more than likely be financed by the United States government. The president and legislature are in full control of financing health care and dealing with associated obstructions. Even more so the president and Congress need to be on the same page about financing health care, controlling costs, and providing quality health care to all citizens of America.
In conclusion, Health care is something that is always going to be around because it is needed by all entities. Health care is a resource that is not readily available to all due to the issue of affordability. Many people try to find the most affordable health care insurance, but sometimes economic hardships do not allow for people to get insured or remain insured; therefore leaving many people without health care insurance. The government has tried to help many people by providing those who qualify with Medicaid and Medical but those who don’t qualify are still left uninsured and with the burden of overwhelming medical bills. Our great nation is spending a fortune on health care and it is continuing to rise each year. Something has to be done to revamp spending so all Americans can receive quality health care services. Health care should be based on the need rather than the ability to pay. No one should have the title of uninsured of health care. Any individual who votes against the health reform cannot be receiving any sleep at night.
-Mirvis, D. M. (2009, January). Health care spending: How much is “too much”? high cost vs. low value. Tennessee Medicine, 102(1), 27-8. -Smith, H. (n.d.). Examiner.com. Retrieved from http://www.examiner.com/health-care-in- washington-dc/getting-more-bang-for-the-same-health-care-buck-a-model-for-health- reform The Henry J. Kaiser Family Foundation. (2010). Kaiser family foundation. Retrieved from – http://www.kff.org/insurance/upload/7692_02.pdf
-Congressional Budget Office (2008). Chapter 8: Effects on Total Health Care Spending, the Scope of the Federal Budget, and the Economy. Retrieved from: http://www.cbo.gov/ftpdocs/99xx/doc9924/Chapter8.12.1.shtml – Congressional Budget Office (n.d.). The Long-Term Outlook for Health Care Spending. Retrieved from: http://www.cbo.gov/ftpdocs/87xx/doc8758/maintext.3.1.shtml – Bradley C. Strunk, Paul B. Ginsburg (2011). Health care costs: Key information on health care Costs and their impact. Kaiser family foundation.