The Rising Cost Of Healthcare Essay

Furthermore, the United States spends nearly double the average $3,923 for the 15 countries ("Health Care Cost," 2011).” Accordingly the U.S. throws away more money than any other country on healthcare which consequently could jeopardize the medical attention that is being provided.

has the world’s most expensive healthcare system, yet one-sixth of Americans are uninsured. Approximately one-third (31%) of adults and a little more than one-half (54%) of children do not have a primary care doctor. Federal spending on healthcare in 2005 alone totaled $600 billion, a massive one-quarter of the federal budget. Someone files for bankruptcy every 30 seconds in the U.S of health concerns. And every 1.5 million families lose their homes to foreclosure due to unaffordable medical costs. The U.S. spends six times more per capita on the administration of the health insurance system than Western European nations, who insure all citizens.“ www.realtruth.org/articles/090203-005-health.html. “In United States, the annual cost of health care per capita is $5,711. http://www.visualeconomics.com/healthcare-costs-around-the-world_2010-03-01/#ixzz12f0I1lbk

In an article on the Uninsured it states that “Lack of coverage increases the unpredictability of medical expenses and the potential for financial catastrophe, including bankruptcy” (Content.healthaffairs.org). The stress that is added when trying to plan financially can become overwhelming, “even for the majority of Americans who have coverage, maintaining it is not a sure thing, and the prospect of losing it can cause anxiety

The cost of health insurance has changed drastically over the years as it has become more expensive. Depending on personal characteristic, the cost of health insurance may vary. For instance, as individuals grow older the more expensive it becomes. In this case, health insurance is more costly because “older individuals require more health care” therefore “the cost of providing health care is rising” (Madura &Atlantic, 2012). Not only does this affect the high cost of health insurance, but the number of individuals uninsured. As stated by Madura and Atlantic (2012), “about one in every five workers is uninsured” and has increased since then because health insurance has become unaffordable. As a result, individuals tend to seek health care elsewhere as they can no longer

Rising health insurance premiums have made healthcare unaffordable in the United States. Health insurance premiums in this country have undergone a steady rise over the past few years while incomes have remained the same. More than 50% of individuals with low incomes holding private insurance in the United States are unable to afford their healthcare costs (Collins, Gunja, Doty & Buetel, 2015). In addition, costs related to healthcare are equally unaffordable to 25% of working-age individuals who hold private health insurance policies (Collins et al., 2015). According to the Kaiser Family Foundation/Health Research and Educational Trust (Kaiser/HRET) survey on employer health benefits, employer-sponsored health insurance plans have also had moderate rises in premiums in 2013 for both individuals and family coverage (Claxton et al., 2013). While

A key question from policymakers is why spending on health care consistently rises more rapidly than spending on other goods and services. One of the studies3 concluded that approximately 63% of the rise in real per capita

The United States spend entirely to much money on health care compared to other industrialized countries. Yet, other countries achieved far better health for more people at less cost, according to OECA. Of the 34 countries rated by the OECD study, the United States ranks #1 in health care spending per capita and #1 in percentage

There are many problems with healthcare in America today. One of them including the astronomical cost. According to CDC.ORG in 2007 the average person spends seven thousand four hundred dollars per year on health care alone. This rise in healthcare is extremely detrimental for families, seniors, and people of all ages. With such a high cost of insurance people are forced to make hard choices in

Even with employer-sponsored programs and federal programs for those who qualify, many Americans are uninsured. Over 46 million Americans had no health insurance in 2006, and 86.7 million went without health insurance at some point in 2007 and 2008 (“Health Care Issues”). Why has the number of uninsured risen so drastically and why are employer-sponsored programs dwindling?

Healthcare spending growth rate trends show astounding estimates. Since 1960, spending has risen from $27 billion ($143 per capita, 5.1% pf GDP) to amazing $1,678.9 billion ($5,670 per capita, 15.3% of GDP, 2003 data) (HHS, 2005). Recent research estimated that by 2013, healthcare spending will be as high as 18.4% of the Growth Domestic Product. It is important to note that the gradual move from hospital to ambulatory setting has resulted in much higher spending on outpatient hospital services and prescription drugs. The spending growth for these two trends is much higher than the overall healthcare cost growth, which, in fact, increases faster than such important economic indicators as GDP growth, inflation growth, and population growth rates.

Healthcare in America is in a crisis. By 1996, more than 43 million Americans were uninsured. By 2010, the number is expected to rise to 57 million. These figures are already shocking, but they are even more so considering that the healthcare costs of the US total $1.2 trillion or 15% of the gross national product (GNP) – the highest in the world.

The American Health Care system has been a constant failure throughout history. We spend the most on healthcare which is 17.1% of our GDP. Compared to France (11.6%) and the U.K. (8.8%). When calculated it comes to $9,086 per person before inflation. We see the problem arising with individual spending for doctor visits, prescriptions, and health insurance we start to see the money pile up. To compare it to other countries only those in Switzerland paid $566 more than those in the U.S. but the average cost in the U.K. spent $277 and those in France paid $270. Compared to the second-highest paying nation (Canada) we spent five times more per capita (Squires et al.).

The rising cost of healthcare coupled with the current economic slowdown and rising federal deficit is placing great strains on the systems used to finance healthcare, including Medicare, Medicaid and employer-sponsored health plans. Since 1999, family premiums for employer-sponsored health plans have increased by 131 percent, placing even great cost burdens on workers and employees. Healthcare costs are growing faster than workers’ wages thus many Americans face difficulty affording out-of-pocket spending (Kimbuende et al., 2010).

Expenses in health care in the United States had been rising at an alarming rate the economy has been unable to keep up for many years, presenting challenges not only for Medicare Medicaid, but for the private sector as health care costs continued to consume a large portion of the nation's finances, Americans were forced to make difficult decision about whether to provide health care for their families or food on the table.

The U.S. spends more on health care than the next 10 biggest spenders combined: Japan, Germany, France, China, the U.K., Italy, Canada, Brazil, Spain and Australia. 10 of the 20 occupations