Essay on "Health Care Reform"

Essay 4 pages (1254 words) Sources: 5

[EXCERPT] . . . .

The Republicans also argue that incremental progress can be achieved by increased dependence on the market instead of the government. Therefore, employers would not be mandated to provide insurance and the expansion of Medicaid would be inefficient since it will load states with enormous long-term liabilities.

According to the Republicans, cross-state purchasing of healthcare insurance will not only loosen consumer power but it will also prevent regulations from increasing insurance costs (Cohn, 2011). Currently, several states have regulations on what insurance plans must include and the behavior of these insurers. While these rules vary across states, they tend to increase the costs of health insurance. This is largely because consumers are forced to pay more depending on what the insurers cater for. Through cross-state purchasing, individuals will spend less money on their premiums as they will be permitted to buy coverage from states with minimum regulations.

Some of the implications of such a program include the existence of a huge number of people who can't get health insurance due to pre-existing conditions with those who access insurance having lousy coverage. Secondly, whereas such policies would be cheap, they contain enormous gaps in coverage in uncovered services or out-of-pocket payments that wealthy families can't afford. Thirdly, such health policies would lead make healthy people to begin purchasing the most minimal packages from states with fewer regulations because it would destroy rules. The accessibility of health coverage to people with severe medical conditions will be financially untenable because health insurers are likely to move to low-regulation states.

Most Suitable Health Care Reform Policy:

The new health care reform law enacted by President Obama in 2010 was the most suitable health care reform law for providing healthcare insurance to a huge number of the American population while maintaining lower federal government costs (Preidt, 2010). In addition to providing insurance to more Americans with minimal governmental costs, the health care reform law has numerous advantages than the proposed alternatives. An analysis of the proposed alternatives reveals that such policies will include higher non-compliance penalties, low government subsidies, and harsh expansion of Medicaid.

It's estimated that approximately 28 million Americans will be newly insured under the new health care reform law by 2016. The enactment and viability of the health care reform law emanate from the possible reasonable balance between costs and coverage levels. Some of the best ideas within this policy include reforms on tax, Medicare, Medicaid as well as encouraging regulators to compete. However, there are certain provisions within this policy that need to be addressed including expansion of government programs, mandating insurance coverage, and price controls (Cannon, 2010).

Conclusion:

Health care reform policy has been one of the current debatable macroeconomic topics with multiple points-of-view because of its impact on the economy. These divergent perspectives emanate from the effectiveness and viability of mandating health insurance to everyone. While there are various alternatives that have been proposed, the new health care reform policy seems to be most suitable because it increases health coverage and minimal costs to the government.

References:

Cannon, M.F. (2010, March 1). The Best and Worst Health Care Reform Ideas. Retrieved December 15, 2011, from http://dailycaller.com/2010/03/01/the-best-and-worst-health-care-reform-ideas/

Cohn, J. (2011, January 20). About that Whole "Replace" Thing & #8230; Retrieved December 15,

2011, from http://www.tnr.com/blog/jonathan-cohn/81821/about-whole-replace-thing

"Health Care Reform.." (2011, November 15). The New York Times. Retrieved December 15,

2011, from http://topics.nytimes.com/top/news/health/diseasesconditionsandhealthtopics/health_insurance_and_managed_care/health_care_reform/index.html

Jackson, J. & Nolen, J. (2010, March 21). Health Care Reform Bill Summary: A Look At What's in the Bill. Retrieved December 15, 2011, from http://www.cbsnews.com/8301-503544_162-20000846-503544.html

Preidt, R. (2010, June 8). Health Care Reform Bill Best Option: Analysis. Retrieved December

15, 2011, from http://www.businessweek.com/lifestyle/content/healthday/639889.html READ MORE

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