Rising Cost of Health Care Essay

Rising Cost of Health Care Essay Rising Cost of Health Care Essay The cost of providing healthcare is rising. In the United States, 1.9 trillion dollars was being on healthcare in 2004, and is going to increase 2.9 trillion dollars by the year 2009. There is a growing concern that elders and retirees may not be able to access healthcare in the future, due to unaffordable costs. The population of the elders is increasing in the US. About three percent of the population or three million individuals belonged to this segment, in the 1900.Rising Cost of Health Care Essay The population and proportion of this group has increased significantly. In the year 2000, 35 million or 12.4 percent of the population belonged to this group (Rubinstein, H. G., 2005). Such an increase is mainly attributed to a general increase in the life-span of humans. Healthcare costs have risen sharply in the last few years, even several times more than the rate of inflation. Between 1980 and 1997, health expenditure for elders increased by 80 % and expenditure on drugs increased by about 169% (Diener, J., 2003). The present Medicare Insurance System does not seem to be providing much relief to this population (as they do not cover prescription drugs). The Medicare system was framed in the 1960’s, when it was considered that provision of just basic health facilities for elders and retirees was enough (Diener, J., 2003). Medicare at that time did not predict the effect of an increasing life-span, and rising healthcare costs. Many senior citizens are subscribing to supplementary insurance schemes that can help them to bear the costs of prescription drugs. However, they end up paying heavily for such insurance packages as they do not seem to be having many choices. The insurance companies are trying to cut down the insurance expenditure and return additional expenditure to the customers. Hence, several of these insurance schemes are becoming increasing unaffordable to the senior citizens. Permalink: https://nursingpaperessays.com/ rising-cost-of-health-care-essay / Many elders who retire before the age of 65 years, may not be able to avail post-retirement Medicare benefits for themselves and their dependents. Some individuals may in fact join their jobs back in order to be eligible for health insurance schemes from their employers. Employer-sponsored healthcare benefits may provide health insurance packages for about 3.8 million retirees (between the age of 55 to 64 years), and an additional 12 million benefit through supplemental insurance (Pallarito, P., 2006). The sheer number and increasing healthcare costs have made employers to seriously cut down healthcare benefits.Rising Cost of Health Care Essay The numbers of employers who offer healthcare benefits have serious reduced by about 50% in the last few years due to these developments (Pallarito, P., 2006). The situation is even more serious in hospitalization and oral healthcare. A study conducted by Kozek et al demonstrated that there has been a significant increase in the rates of hospitalization from 99.2 per 10000 in 1980, to 133.8 in 1998 (Kane, N. M., 2002). The rates for hospitalization had risen sharply in elders compared in younger individuals. In spite of several advancements in the field of medical sciences, this increase occurred. Some people feel that this may be attributed to poor coverage of prescription drugs by insurance packages. The hospitalization in children in fact had significantly reduced due to utilization of vaccination and use of antibiotics. Many states in the US do not provide comprehensive oral Medical insurance covers for the elderly population (Rubinstein, H. G., 2005). Some states may only provide cover for emergency treatment. Even retirement benefit packages do not cover dental treatment. Studies suggest that less than one-sixth of the elderly population have access to dental insurance (Rubinstein, H. G., 2005). Several options have been suggested to provide healthcare benefits to the senior citizens. Medical saving accounts can help to cover medical and dental insurance. The individual creates and controls funds that can be used to cover medical and dental costs. Money that is saved during one year can be utilized for the next year. Any unsaved portion will return back to the account holder. However, federal tax rules permit only limited participation of non-insurance schemes, especially for uninsured individuals who belong to a risk category.Rising Cost of Health Care Essay The Health Reimbursement Arrangement (HRA) is package covers only low-cost services and infrequent high-cost services. The remaining portion, which is usually affordable, has to be paid by the participant (Rubinstein, H. G., 2005). Money that remains in an individual’s account is carried over to the next year. The participants also have the option of using saved funds to improve healthcare coverage or passing on their funds to their dependents. However, the amount that has to be paid for HRA is significantly higher, and many people may be having excessive expenditure such that they are unable to bear the costs of such a scheme. One of the options that seem ideal for providing healthcare services at an affordable cost for senior citizens is ‘managed care’ (health maintenance organizations or ‘HMO’). In this healthcare package, all the healthcare services are integrated, and provided under a single roof to the customer (Kyomen, H. H., 2005). It aims to provide cost-effective healthcare options. All unnecessary expenditures, diagnostic tests, and duplication of interventions are prevented.Rising Cost of Health Care Essay Efforts are also on in providing preventive measures. Patients are not hospitalized for long periods. Managed care is ideal for senior citizens because several medical facilities such as preventive check-ups, hospitalization, general medical care, mental healthcare and drugs are all integrated at provided at an affordable rate (Sauber, R. S., 1997). Unlike Medicare, managed care does not turn the costs of prescription drugs and spectacles (lenses) over to the customer (Henry J Foundation, 2006). The rising costs of healthcare for elders can be controlled to some extend by managed care. Studies have shown that elders who avail HMO packages spend much lesser on prescription drugs and other forms of medical expenditure, compared to those covered by Medicare. The expenditure on healthcare can be better predicted, and unexpected costs can be reduced through HMO. Managed care offers various options and packages for their customers which can suit their needs. In these ways managed care could help senior citizens to be more self-dependable and lead a life with respect.Rising Cost of Health Care Essay Get a 10 % discount on an order above $ 100 Use the following coupon code : NURSING10

Struggling to find relevant content or pressed for time? – Don’t worry, we have a team of professionals to help you on
Rising Cost of Health Care Essay
Get a 15% Discount on this Paper
Order Now
Calculate the price
Make an order in advance and get the best price
Pages (550 words)
$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
Sign up, place your order, and leave the rest to our professional paper writers in less than 2 minutes.
step 1
Upload assignment instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
s
Get personalized services with MyCoursebay
One writer for all your papers
You can select one writer for all your papers. This option enhances the consistency in the quality of your assignments. Select your preferred writer from the list of writers who have handledf your previous assignments
Same paper from different writers
Are you ordering the same assignment for a friend? You can get the same paper from different writers. The goal is to produce 100% unique and original papers
Copy of sources used
Our homework writers will provide you with copies of sources used on your request. Just add the option when plaing your order
What our partners say about us
We appreciate every review and are always looking for ways to grow. See what other students think about our do my paper service.
Wellness
The skilled writer did a GREAT job on assignment. There are a few details I will add, but overall very happy with their work. Thank you
Customer 452547, June 13th, 2021
Criminal Justice
Looks good! Thank you Jason
Customer 452711, January 25th, 2022
Social Work and Human Services
Great Work!
Customer 452587, November 2nd, 2021
Social Work and Human Services
The paper is impressive. Very professional and per the instructions
Customer 452533, May 24th, 2021
IT, Web
Excellent job on the paper!
Customer 452885, December 28th, 2022
Nursing
Paid for the paper to be completed 5 days prior than the day I received the paper.
Customer 452693, July 13th, 2022
Technology
I can work with it and massage it to what I need. Thank You
Customer 452827, July 19th, 2022
Nursing
Perfect as usual!!! Thanks team!
Customer 452453, May 26th, 2021
Nursing
Thank you for the great job and timely delivery.
Customer 452457, December 18th, 2020
Technology
Great job on the paper!
Customer 452885, December 28th, 2022
Ethics
thank you
Customer 452493, March 15th, 2021
Nursing
Perfectly done! Thanks again.
Customer 452707, July 18th, 2022
OUR GIFT TO YOU
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat

Get top-notch homework help now. 20% off first 10 orders!

NEW

Thank you for choosing MyCoursebay. Your presence is a motivation to us. All papers are written from scratch. Plagiarism is not tolerated. Order now for a 15% discount

Order Now