Healthcare costs and health insurance are huge topics of discussion for our nation and this week, we will focus on both concepts. 

Healthcare costs and health insurance are huge topics of discussion for our nation and this week, we will focus on both concepts.  By the end of this week, you should be able to explain healthcare costs in the United States and identify the types of health insurance.  Questions to address include:

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1. Why have health care costs risen? What could be done to slow, stop, or reverse the growth of health care expenditures?

2. Discuss the various types of private insurance options. Explain the differences

3. What are some of the pros and cons of Medigap insurance? Please Explain.

MODEL ANSWER 

One of the primary root causes for the rise in health insurance costs are the increasing medical costs. The growth rate is slower than it was ten years ago, but medical cost increases still outpace inflation. There are several reasons for the rise of medical costs; we’ll cover the big reasons PLACE ORDER FOR A COMPLETE AND CUSTOMIZED ANSWER Providers are Rewarded for Doing More (Rather Than Being Efficient) As we wrote about previously, most insurers — including Medicare — pay doctors, hospitals, and other medical providers under a fee-for-service system that reimburses for each test, procedure, or visit. On top of this, our medical system is not integrated which leads to repetitive tests and PLACE ORDER FOR A COMPLETE AND CUSTOMIZED ANSWER of Chronic Illness & Obesity. Did you know nearly half the U.S. population has one or more chronic conditions such as asthma, heart disease, or diabetes? Chronic illnesses combined with an aging population drives up costs. Additionally, two-thirds of adults are either overweight or obese, which also leads to chronic illness and inflated medical PLACE ORDER FOR A COMPLETE AND CUSTOMIZED ANSWER is not Consumerized Another reason for the rise in health insurance costs is healthcare is not yet fully consumerized. Most people do not pay directly for their health insurance — their employer does. As a result, most people are disconnected from making truly informed decisions about their cost of care and their coverage…………….PLACE ORDER FOR A COMPLETE AND CUSTOMIZED ANSWER………