Reform of Healthcare Costs - Essay Example

Health care has a huge impact on the economy since increases in health spending are reported every year outpacing the spending on other goods and services thereby resulting in a remarkable slice in the economy. Health costs have gradually increased over the years and affect people’s way of life, government institutions and businesses. The effects of this are notable in all sectors as the government has to be at the forefront in curbing these problems by increasing the share of the budget spent on health care and this causes them to increase the level of taxes. This places businesses that offer insurance coverage for their workers at a disadvantage as they spend more on health care. This also affects the households paying for their coverage and has an impact on their spending on other goods and services. This paper will give a summary of the information on health care costs and the impact it has on society and the economy”.

Literature review suggests that despite certain continuous attempts by subsequent governments to improve health care there has been a substantial increase in the cost incurred by the common man on health care each year. The need for the day is not the fact that insurance reforms for health care be revised but in fact, the requirement is that measures should be taken at grass root levels. This would be done to eliminate the causes that are resulting in the origination of ever-rising health care problems.

There have been attempts to bring health care reforms in the near past for example, specifically in the year 2010 when the Patient Protection and Affordable Care Act was given the name of a law. The law covers several health insurance issues both for individuals and the entire population as a whole. The shortcomings of these laws are that they do not come into effect until the year 2014. Till then there is a possibility that any laws might be made against its promulgation and the subsequent government or Congress might work against the said laws. The reforms being made are not targeted specifically upon the improvement of the economic viability of the health reforms.          

THE SIGNIFICANCE OF the PROBLEM FOR the TARGET AUDIENCE is that the economy of the country suffers on the whole due to large expenditures being made on health reforms only.

THE PURPOSE OF THE PROPOSED STUDY is to highlight the fact that health reforms are as essential to a country as their existence. The more efficient the health care system of a country is, the better its economic and social front thus resulting in the prosperity of the nation on the whole and eventually the entire mankind.