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Government Health Care - Term Paper Example

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Summary
Health is Wealth" is a common saying. Health is one of the top indicators of a nation's potential for growth in terms of GDP, NNP and other financial indicators. President Obama must have had the economic and overall well-being of the country when he made the Universal Healthcare Plan public and spoke about it in the Congress on 9th September 2009…
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Government Health Care
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Government Health Care

Download file to see previous pages... There are a few grey areas about the political motives, ramifications on the insurance agencies and the cost of the plan to the government exchequer. While the discussions have been going on since last winter, support for his plan seems to have been gradually coming down. There are various versions of the plan, The Republicans having their own version of the health care Bill, giving more room for a mixed plan.
An obvious loophole is that if Mr. Obama wants to fulfill his promise of providing universal coverage for all Americans, insurance fee would have to be lowered to cover all income groups. This lowered cost may in turn force lawmakers to reduce the subsidies needed to help more uninsured individuals and small businesses seeking coverage for employees.
The "deficit trigger" borrows on the original idea suggested by David M. Cutler, an economist at Harvard University, which endorses a budget mechanism to automatically reduce the increase in Medicare (a government insurance scheme for senior citizens) spending, if health care overhaul does not produce the savings that the administration and many health care experts expect.
The estimated cost of the plan being $900 billion number suggests a political and fiscal calculation to avoid the sticker shock of the trillion-dollar threshold. ...Download file to see next pagesRead More
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