Health Care Spending
July 14, 2014
Ms. DAWN CHIABOTTI
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...
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-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
-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.
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