Domestic Factors: Insurance Companies

1137 Words3 Pages

There are numerous problematic concerns of nature pertaining to health care that are unforeseen and all may possibly not be addressed by government, privatization or through subsidies. The nature of the issue is that countless individuals in society are deficient or without any accessibility to health care and insurance coverage. Since the expenses of health care are encumbering patients’ capabilities to afford medical treatment and management. Asymmetric information affects the health care and insurance market because those with superior facts have an economical benefit. Routine transactions frequently consist of improper/imperfect information individuals are acquainted and well-informed about his or her individual wellbeing than prospective insurance companies and health care managers or providers. Consumers (patients) have a history of non-communicable maladies e.g. diabetes, hypertension, congenital heart disease, smoker, alcoholism and the like to cover-up health complications in an effort to obtain lower insurance premium to keep insurance organization from charging higher insurance premium.
If insurance companies had accessibility of every individual’s health information the company would charge for high premiums because of complicated congenital health issues of consumers (patients). Millions of individual’s die annually from non-communicable diseases, e.g. cardiovascular disease, cancer, diabetes, chronic lung diseases and the sort. This occurs in two-thirds of the estimated fifty-six million demises yearly internationally in addition one quarter of transpires before the age of 60. However, “Georgia states it is encountering decreasing number of healthcare providers as the number of people in need of care continues to ri...

... middle of paper ...

...forms of practices that may anticipate towards being more intrusive. Therefore problems will always tend to arise regardless of which system is in position.

Works Cited

Blair, J. D., Stanley, J., & Whitehead, C. J. (1992). A Stakeholder Management Perspective on Military Health Care. Armed Forces & Society (0095327X), pp. Vol. 18 Issue 4, p548-575.
Georgia.Gov. (n.d.). Governor: On the Issues. Retrieved from Georgia.gov: https://gov.georgia.gov/issues-0
Moomaw, R., Olson, K., Applegate, M., & McLean, B. (2013). Economic and contemporary issues (9th ed.). Mason, OH: South-Western Cengage Learning.
Santerre, R., Grubaugh, S., & Stolla, A. (1991). Government intervention In Health Care Markets and Health Care Outcomes: Some International Evidence. Retrieved from Cato Journal: http://object.cato.org/sites/cato.org/files/serials/files/cato-journal/1991/5/cj11n1-1.pdf

Open Document