Health Care Reform

Topics: Health insurance, Health care, Small business Pages: 7 (3505 words) Published: December 1, 2012
Basic overview of health care reform (3 articles):The Health Care Reform is making a huge economic impact as it has very important insinuations when it comes to the US economy. Hence it is important to understand what is going on with this topic. In “Health care reform stands: How it impacts your coverage” by Parija Kavilanz, it states that the Supreme Court supported the health care reform meaning that it is obligatory for people to purchase coverage by 2014 and if not they will have to be fined. Hence by 2014, this will affect uninsured persons because they will have to purchase coverage by either doing it personally, by their employer's offered health plans or by a health insurance exchange. If they decide not to purchase coverage then a tax penalty would apply, for example when 2014 arrives, if an individual has not purchased coverage than the penalty fee will be $285 per family or 1% of their revenue (they will have to pay the higher one). By 2016, the penalty fee will increase drastically to $2,085 per family or 2.5% of their revenue, paying the higher one. In the intervening time, the people that are insured will still benefit from the significant things that are offered by the law. This includes things such as full coverage for preventive care and for grownup dependents of up to 26 year of age. However, this is possible because of the personal greater expenditure. Today in the US, greater than 50% of everyone (about 160 million people) acquire their health insurance straight from the company they work for and with this law in place by 2014, employers with greater than 50 full-time workers will be obligated to offer health insurance and if not they will have to pay fines. For the remaining people, 50 million of them don’t have coverage and the other millions purchase coverage personally through a private insurance or obtain coverage from the government though plans like Medicaid or Medicare.                         In “How health reform may help ... or hurt,” by Jeanne Sahadi, it explains how this reform in health care can have huge impacts. Citizens in the US are being informed that this health reform is a correct objective and that it will help the economy. Obama had stated that this reform does not pertain to the problems when discussing the fiscal future but that it is part of resolving issues. However, the issuer is that the US health care expenditures are way more than other established countries and yet the cost and what get out of it does not match up.  Temporarily, many citizens don’t have enough money for coverage or their coverage that they do have does not cover sufficiently their medical charges.                                                                               In Washington discussions are often raised to talk about the possible outcomes and options for this issue. In the past 40 years, the cost for health care expenditures has gone up quicker than inflation and incomes. Currently, the US’s government, companies and people, devote greater than 16% of its GDP on health care, which according to Kaiser Foundation is about $7,421 per individual. Furthermore, the US’s high debt is also because of the growing health care costs, which increases federal expenditure on Medicare and Medicaid. However, if the health reform does work, as time goes by it would cover its own cost as well as decrease health spending without conceding quality and deliver inexpensive, accessible care for everyone. Lastly, they have to think about if the health reform fails. All these “what ifs” are essential because one key point of why complete health reform has been an indecisive process is that it is very hard to uncover how to do it well.                                In “What the Supreme Court ruled on health care 'tax'” by Josh Levs, it discussed how the Supreme Court finds that consequences that the law puts on individuals that do not purchase health insurance amount as a constitutional tax...
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