Health Care Spending Research Paper
National Health Care Spending Paper
HCS/440
National Health Care Spending Paper
National health care spending is a major finance concern throughout the United States and many other countries. The government has set aside funds in the budget to help cover some of the health care expenses currently occurring. Because health care expenditures have increased from $256 billion from 1980 to $2.6 trillion in 2010 it has caused a burden to the world. This paper will provide the reader information of the level of current national health care expenditures, whether the spending is too much or not enough, whether or not the nation should cut or add, and how the public’s health care needs are financed. This paper will also focus on the future economic …show more content…
With that in mind most of the gross domestic product (GDP) went to health care spending. By 2008, 16.2 percent of the gross domestic product was used on health care. According to CMS the GDP normally grows at a slower rate than the total health spending after and during a recession and why the GDP findings were anticipated. The positive aspect is that the hospital spending growth has been the slowest since 1998, and Medicaid spending was also down. According to Werber Serafini (2010), “The growth of spending for physicians’ services, nursing home services, and retail prescription drugs was also down, and private health insurance premiums and benefits grew at their slowest rate since 1967, according to …show more content…
The employee pays for a portion of the health coverage through payroll deduction and the organization covers the rest. Other consumers chose to purchase health insurance privately, but it may be very costly and sometimes it might not cover individuals with any pre-existing disorders. According to The Merck Manual (2010-2013), “If people are eligible for government aid because they have limited financial means, are disabled, or are older than 65, health care costs may be covered by plans such as Medicare and Medicaid.” It does not matter what health care coverage option the individual decides to chose, he or she will still have to pay some out-of-pocket expenses such as deductible, co-pays, and cost that exceeds those covered by a plan (The Merck Manual,
HCS/440
National Health Care Spending Paper
National health care spending is a major finance concern throughout the United States and many other countries. The government has set aside funds in the budget to help cover some of the health care expenses currently occurring. Because health care expenditures have increased from $256 billion from 1980 to $2.6 trillion in 2010 it has caused a burden to the world. This paper will provide the reader information of the level of current national health care expenditures, whether the spending is too much or not enough, whether or not the nation should cut or add, and how the public’s health care needs are financed. This paper will also focus on the future economic …show more content…
With that in mind most of the gross domestic product (GDP) went to health care spending. By 2008, 16.2 percent of the gross domestic product was used on health care. According to CMS the GDP normally grows at a slower rate than the total health spending after and during a recession and why the GDP findings were anticipated. The positive aspect is that the hospital spending growth has been the slowest since 1998, and Medicaid spending was also down. According to Werber Serafini (2010), “The growth of spending for physicians’ services, nursing home services, and retail prescription drugs was also down, and private health insurance premiums and benefits grew at their slowest rate since 1967, according to …show more content…
The employee pays for a portion of the health coverage through payroll deduction and the organization covers the rest. Other consumers chose to purchase health insurance privately, but it may be very costly and sometimes it might not cover individuals with any pre-existing disorders. According to The Merck Manual (2010-2013), “If people are eligible for government aid because they have limited financial means, are disabled, or are older than 65, health care costs may be covered by plans such as Medicare and Medicaid.” It does not matter what health care coverage option the individual decides to chose, he or she will still have to pay some out-of-pocket expenses such as deductible, co-pays, and cost that exceeds those covered by a plan (The Merck Manual,