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Expansion of medicaid essay
Expansion of medicaid essay
Expansion of medicaid essay
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Give your opinion of the rising cost of health care’s overall impact on the U.S. economy. Justify response. The rising cost of health care has a significant impact on the overall U.S. economy. The rising cost affects businesses, families and individuals. Businesses are finding it difficult to provide health benefits for employees. Uncertainty and insecurity arises in some families and individuals with respect to high premiums and deductibles, high out of pocket expense and expensive prescriptions for those with coverage and the burden of not having coverage for others. This trickles down into other areas of ones livelihood. Due to medical debt, families with health insurance are having difficulty paying for other basic necessities (Doty, …show more content…
As mentioned earlier, the previously uninsured now have access to, preventative care, comprehensive coverage, no annual or lifetime limits, guaranteed acceptance. According to the New York Times, ACA has been most beneficial for people between the ages of 18-34; minorities (Blacks and Hispanics), women and low-income. Under ACA young adults are now covered under their parents insurance until 26 years old. Minorities, who are the most like to be uninsured gained substantially due to Medicaid expansion, as did the low-income (Quely & Sanger-Katz, 2014). “If all states adopted the Medicaid expansion, it is estimated that states could save $18 billion from 2013-2022 (“Report finds,” 2012). In addition to affordable and better quality health care, ACA will reduce Medicaid spending. Expansion would also provide Medicaid for the population whose income does not meet the threshold of the federal poverty line. The U.S. is one of the few countries that does not provide national coverage. Other countries that provide various types of health care insurance that is affordable, equal quality of care, and covers most of their citizens. Unlike the U.S whose systems are separate, both sick and healthy, rich and poor pay into the plan, which keeps premiums low (Reid,
The aim of affordable care act (ACA) was to extend health insurance coverage to around 15% of US population who lack it. These include people with no coverage from their employers and don’t have coverage by US health programs like Medicaid (Retrieved from, https://www.healthcare.gov/glossary/affordable-care-act/). To achieve this, the law required all Americans to have health insurance which is a reason of controversy because, it was inappropriate intrusion of government into the massive health care industry and insult to personal liberty. To make health care more affordable subsidies are offered and the cost of the insurance was supposed to be reduced by bringing younger, healthier people to the health insurance system. This could be controversial, if older, sicker people who need the coverage most enter the market but younger group decline to do so. The insurance pool will be unbalanced and the cost of coverage will rise correspondingly.
Therefore, the Affordable Care Act increased access to healthcare. The group that benefited the most was the individuals with pre-existing conditions. Prior to Affordable Care Act, insurance companies had the right to deny the application of those with pre-existing condition like asthma and diabetes. However, with the ACA, insurance companies cannot deny their application and they can’t increase their premium. Another group that had advantages of this new act are the poor people. People who are up to 138% of poverty level or the individuals that make less than $15,854 a year will be eligible for
As part of the Affordable Care Act, beginning this year Medicaid will expand eligibility to include all uninsured individuals under the age of 65 whose incomes fall at or below 138 percent of the Federal Poverty Level, or about $32,500 for a family of four. However, the 2012 Supreme Court ruling that upheld the law also allowed states more flexibility concerning what parts of the ACA they can implement and said that those same states would not lose federal funding for their existing programs. This result would leave the decision to opt out of the law's provision into the hands of state legislators. While twenty-six states have chosen to expand healthcare coverage, twenty-one states have not and four have yet to make a decision. The state of Florida is among those not seeking to expand coverage and that decision alone could cost Florida millions of dollars a year in tax penalties. As conservative and liberal state lawmakers square off into a maelstrom of debate over whether Medicaid should cover more people, thousands of uninsured Floridians will be caught in the crossfire.
Such rising health care costs penalize the citizens within our nation in multiple aspects. The first set of individuals that are affected are families and seniors because it affects the amount of money that goes into their pockets, which results in a difficult time balancing food, rent, and the basic necessities for living. Next, small businesses and fortune 500 employers are affected because such increased costs cause rising health care costs to become more expensive to add new employees to their payroll and more difficult to cover retiree fees when that time comes. Finally, the federal, state, and local governments are forced to increase Medicare and Medicaid costs, which results in cutting other priority funding such as public safety and education.
...ple less than or equal to 133% of the FPL, starting 2014 eligibility will be expanded to people that are 138% or les of the FPL. Also the expansion will cover more parents and expand to adults who are childless. Fore states that choose to accept the expansion this means that they will have to cover more individuals in their Medicaid programs. The government will provide 100% funding for the first 3 years of the Medicaid expansion; thereafter the states will have to figure out how they will fund the program with the absence of federal funding. The stipulation with expanding Medicaid that after the three years are up the state cannot modify the program to not cover the expanding individuals. States that in financial ruins before the ACA, now with the expansion they will need to find alternative ways that will serve the same purpose as Medicaid in order to lower cost.
In March 2010, under the Obama administration, the United States enacted major health-care reform. The Affordable Care Act (ACA) of 2010 expands coverage to the majority of uninsured Americans, through: (a) subsidies aimed at lower-income individuals and families to purchase coverage, (b) a mandate that most Americans obtain insurance or face a penalty,
The author also believes that the Medicaid expansion extends beyond the politics, and has an aim to impact the life, health, and financial stability for the state and individuals. Medicaid expansion can be beneficial to many countries that have a large proportion of low-income people that are uninsured and or with disabilities. This can aid in saving the state money because much of the cost is provided and covered by the federal government, that encourages healthier behavior and results to a reduction in chronic disease due to lower health care costs. Although Texas opted out in adopting the expansion, legislators should decide on the advantage and disadvantage of participating in the Medicaid expansion to improve the welfare of the state. The expansion of Medicaid coverage will give low-income pregnant women the chance to reduce the rate in infant mortality and provide an opportunity for those that were unable to get coverage to be
Rising medical costs are a worldwide problem, but nowhere are they higher than in the U.S. Although Americans with good health insurance coverage may get the best medical treatment in the world, the health of the average American, as measured by life expectancy and infant mortality, is below the average of other major industrial countries. Inefficiency, fraud and the expense of malpractice suits are often blamed for high U.S. costs, but the major reason is overinvestment in technology and personnel.
Under the Affordable Care Act one of the most important provisions is to expand health care to low income families through Medicaid. This could have an effect on over eight million people who do not have access to health care currently. However 25 states have decided against expanding Medicaid benefits, leaving 13.5 million people less likely to receive basic health care and preventative ...
Begin your paper with a strong introductory paragraph. The purpose of this paper is to examine factors that contribute to the rise in health care costs and available ways to decrease the costs without any hindrances. The estimated annual health care cost of illness is a staggering $3 trillion or about 17% of annual medical spending in the United States (Beilfuss & Thornton, 2016). In one’s point of view, health care cost is the amount of money in which an individual or a third party pay in exchange for health care goods and services. There are numerous factors that contribute to the rise of medical cost notably: 1.
The high costs of health care are a big problem in society of United States. The total heath care cost in US have increased from $75 billion to $2.6 trillion between 1970 and 2010. However, If we compare the Organization for Economic Co-operation and Development (OECO) with United States on total health expenditure per capita, public, and private in 2010. The spending in United States is 150 presents of the OECO average. In addition, the health spending of United State is 17.6 presents of GDP, that is nearly twice the OECD average.
...ue to numerous medical errors. With the amount of medical errors that currently do occur which is a current health care issue it cost the health care billions of dollar each year to fix the mistakes that were made.
This model is much simpler administratively than the Americans. National Health Insurance Plans have control costs. They tend to have patients to wait in order to be treated. They also limit the health-related services they will pay for. The NHI model is adopted by Canada, South Korea and
...care system would be difficult to implement in America with the complex methods of everything being a fee-for-service. We have many different systems in the United States. However with the new Obama care it is coming and making head way with similar qualities in those different countries.
Healthcare is an on-going concern in today’s society. The cost of healthcare is constantly rising and is becoming less affordable to the public. The increase has an effect on premiums for businesses and families. The government has also made it mandatory for everyone to have health insurance otherwise, a tax penalty has to be paid. There are health insurances that are funded by the state and federal government.