Forbes on Nostr: Reason For Our Health Care Crisis: Government ========== Compulsory spending on ...
Reason For Our Health Care Crisis: Government
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Compulsory spending on health care in the US consumes a greater share of health care spending than in most other developed countries. Government is more involved in health care spending and regulation in the US compared to other countries. Major health care programs like Medicare, Medicaid, and Obamacare were created to solve problems caused by previous government interventions. Medicare and Medicaid led to an increase in health care spending without an overall increase in health care. Medicaid exists because low-income families were priced out of the market for medical care due to regulations that limit the number of doctors and restrict the services nondoctors can offer. The tax subsidy for employer-provided health insurance also contributed to the existence of Medicaid. Obamacare was implemented to address the fear of discrimination against people with pre-existing medical conditions who had to buy their own insurance. However, under Obamacare, there was no increase in health care nationwide despite a significant increase in government health care spending. Premiums doubled, deductibles and out-of-pocket exposure increased, and there was a decrease in access to high-quality care. The unsubsidized part of the Obamacare exchanges experienced a decline as people sought better insurance options elsewhere. The solution proposed by the author is to give Medicaid and Medicare funds to beneficiaries in the form of cash and provide large Health Savings Accounts to employees.
#HealthCare #GovernmentIntervention #Medicare #Medicaid #Obamacare
https://www.forbes.com/sites/johngoodman/2024/07/12/reason-for-our-health-care-crisis-government/
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Compulsory spending on health care in the US consumes a greater share of health care spending than in most other developed countries. Government is more involved in health care spending and regulation in the US compared to other countries. Major health care programs like Medicare, Medicaid, and Obamacare were created to solve problems caused by previous government interventions. Medicare and Medicaid led to an increase in health care spending without an overall increase in health care. Medicaid exists because low-income families were priced out of the market for medical care due to regulations that limit the number of doctors and restrict the services nondoctors can offer. The tax subsidy for employer-provided health insurance also contributed to the existence of Medicaid. Obamacare was implemented to address the fear of discrimination against people with pre-existing medical conditions who had to buy their own insurance. However, under Obamacare, there was no increase in health care nationwide despite a significant increase in government health care spending. Premiums doubled, deductibles and out-of-pocket exposure increased, and there was a decrease in access to high-quality care. The unsubsidized part of the Obamacare exchanges experienced a decline as people sought better insurance options elsewhere. The solution proposed by the author is to give Medicaid and Medicare funds to beneficiaries in the form of cash and provide large Health Savings Accounts to employees.
#HealthCare #GovernmentIntervention #Medicare #Medicaid #Obamacare
https://www.forbes.com/sites/johngoodman/2024/07/12/reason-for-our-health-care-crisis-government/