The creation of a functioning and affordable health care system is an ongoing issue of debate in the developed world.
The creation of a functioning and affordable health care system is an ongoing issue of debate in the developed world. The United States is no exception. Most health care facilities in America are owned by the private sector, though health insurance is now primarily provided by the government. Moreover, between 60% to 65% of healthcare provision comes from programs such as Medicare, Medicaid, the Children’s Health Insurance Program, and the Veteran’s Health Administration.
Health care expenditure is expected to rise as the nation attempts to cope with obesity and an aging population. Unfortunately, millions of Americans are uninsured because of the high cost of medical insurance and medical care. In addition, high medical costs have contributed to problems such as medical debt and personal bankruptcies due to high medical expenditure.
According to the World Health Organization, the American health care system was ranked highest in cost among developed nations, yet ranked 37th in overall performance. Moreover, America is the only industrialized nation in the developed world that does not strive to ensure that all its citizens have complete medical coverage.
Reforms have been instituted to correct these injustices. In March 23rd 2010, the Obama administration signed the Patient Protection and Affordable Care Act or PPACA. This federal statute reformed certain aspects of the private health insurance industry and public health insurance programs. The statute made provisions which expanded medical insurance access to 30 million Americans and provided funds for medical research in every San Joaquin hospital in Bakersfield.
The statute also expanded Medicaid eligibility to include all individuals and families with incomes up to 133% of the poverty line. It also guaranteed that low-income persons and families will receive federal subsidies. The provisions are expected to be funded by taxes such as Medicare taxes on incomes over $200,000 and an annual fee on insurance providers. This will ensure that every San Joaquin hospital CA can provide high-quality, subsidized medical care especially to their neediest patients.
The Act is expected to generate $409.2 billion over the next 10 years in tax revenues. Medicare taxes on high-income earners are expected to generate $210.2 billion; while annual fees on insurance providers are expected to generate $60 billion. This should provide enough funds to ensure that every San Joaquin hospital CA can provide excellent health care to more patients.