The issue of healthcare has become a major burden for many businesses in America and the world in general. Healthcare cost are sky rocketing and are not keeping up with the rate of inflation. As wages across the country dwindle, the cost of healthcare is still rising. This has sparked a major campaign on the need to bring about healthcare reform. It has been a major political topic since the Theodore Rooseveltpresidency. Each and every president since the Roosevelt presidency has always tried to reform the process. According to an interview with U.S. comptroller general David Walker, the US budget on healthcare takes almost a fifth of total revenue. In 2009 the Federal deficit was 1.6 trillion which was largely contributed by healthcare costs. (Walker, 2009). With the recent passing of a major landmark legislation, Patient Protection and Affordable Care Act, commonly known as Obamacare, many hope it will solve the problem. Now this is a major political and philosophical issue among many Americans. But according to Elias, it will bring unprecedented changes to the healthcare system in the US. He says it should increase market share and give people option. (Elias, 2011). The big question is what about the cost to small businesses? Firing employees with health problems
Now prior to the passing of the legislation, majorhealth insurance companies would monopolize markets and control businesses. This in turn made businesses to make tough decisions. The major
Walker, D (2009). Reduce costs first, then expand coverage. (). hfm (Healthcare Financial Management), 63(10), 45-50. Retrieved from http://web.ebscohost.com.ezproxy.liberty.edu:2048/ehost/detail? Elias, E. C. (2011). Biosimilars and the Patient Protection and Affordable Care Act: Where do we stand?. Formulary, 46(11), 474-485. Retrieved from...