Unformatted text preview:

Health Care SpendingHealth Care SpendingReview the information provided at the following website: http://www.govspot.com/features/healthcare.htm. Discuss the major financial challenges of Health Care reform. You must respond to at least two of your classmates' postings to receive full credit. The main problem with the health care system is that costs keep going up. Rising health care costs continue to drain our society. The major economic change we have faced in the United States has altered the way Americans think about the role health care plays in our lives as well as the deficiencies that come along with it. The growth in population that America has seen and the amount of uninsured, America is suffering. “US health care spending was $2.4 trillion in 2008 and spending is expectedto reach $4.2 trillion in 2016.” (www.govspot.com) All the other problems in the health care system stem from this and won't be solved until we give everyone real choices and the ability to take responsibility for what they spend on care. That means reducing regulation and using free market competition to allow insurers to offer a wider range of plans. We should also embrace managed care, which watches expensescarefully and has already slowed down the increase in health care costs “Despite its nearly $1 trillion price tag, the Congressional Budget Office predicts the health care reform legislation is expected to lead to a $143 billion net reduction in federal deficits over the next nine years. The CBO determined the reductions will come from $124 billion in net reductions from the health care and revenue provisions and $19 billion in net reductions deriving from education provisions.”(Baron, 2010) Americans spendtwice as much as residents of other countries on health care, but receive lower quality care, less efficiency, and have the least equitable system. In this period of financial uncertainty for U.S. families, it is evident that some form of health care change was necessary. What should really be pointed out is” the impact of bankruptcies on the U.S. economy, as nearly half of bankruptcies in the U.S. resulted from medical costs (and only 25 percent of those that filed for bankruptcy were uninsured). This supports the fact that the existing health care system is clearly challenged.” (John B. Veihmeyer, 2010).http://www.govspot.com/features/healthcare.htm.Baron, J (2010) Healthcare reform effect on business Retrieved from www.accountingtoday.comVeihmeyer, J (2010) Healthcare reform effect on business Retrieved from

View Full Document

UOPX ACC 281 - Health Care Spending

Download Health Care Spending
Our administrator received your request to download this document. We will send you the file to your email shortly.
Loading Unlocking...

Join to view Health Care Spending and access 3M+ class-specific study document.

We will never post anything without your permission.
Don't have an account?
Sign Up

Join to view Health Care Spending 2 2 and access 3M+ class-specific study document.


By creating an account you agree to our Privacy Policy and Terms Of Use

Already a member?