Health Care Spending Review 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 expected to 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 expenses carefully 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 spend twice 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 com Veihmeyer J 2010 Healthcare reform effect on business Retrieved from www accountingtoday com
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