How much is spent on healthcare in the United States annually?

1. How much is spent on healthcare in the United States annually?

Health insurance is infamously expensive and sophisticated in the United States. Unlike other countries, where universal health care provides a standard level of coverage to all citizens, it’s a different case in the U.S. Standard coverage in California can cost $450 monthly. Similarly, the same plans in New York can cost $600 or even upwards. The public programs are precisely meant for the old, the disabled, and the low-income families and individuals. For all the others, they should acquire private plans, either from their employers, schools or on their own.

You can choose a plan that suits you best from the Affordable Care Act (Obamacare) that provides subsidies to those who cannot afford high premiums of insurance plans. Plans with higher premiums cover more medical expenses. Back in 2018, incentives accumulated to $440 monthly for individuals, and also $1168 monthly for families. By 2028, it is estimated that these costs will rise to $2.9 trillion annually or 9.7 percent of the United States’ economy.

2. What is the basic structure of our system, and how does it compare to other industrialized nations in terms of outcomes (be sure to identify what parameters you are using as a metric) and cost?

The United States is one of the wealthiest nations in the world, but it is far from the healthiest. Regardless of the drastic improvement of life expectancy and survival rates, U.S citizens live shorter lives and encounter more injuries and sickness as compared to people in other industrialized countries. From the 2011 report, the National Research Council reported an enormous and rising international transience gap among adults aged 50 and above.

The analysis of the panel of experts compared the health system of the United States to those of 16 peer countries. They found out that Americans, for many years, have had a low life expectancy rate than people in close to all of the industrialized countries i.e., as of 2007, American males lived 3.7 years fewer than Switzerland males and 5.2 years less than Japanese females for the U.S females. With this life expectancy rate increasing especially in women for the last three decades, this health issue is prevalent and affects all ages of up to 75 years.

Since 1980, the U.S has had the first or second lowest likelihood of surviving to age 50 among the 16 peer countries. For those that attain age 50, they are always at poorer health than their counterparts in the 16 peer countries. However, the U.S has higher survival after 75 as compared to top income companies and higher rates of cancer survival, lower stroke levels, cholesterol levels, and low suicide rates. The health disadvantage is a significant hit considering America’s wealth and assets, which by far exceeds that of any country.

3. What are some unique challenges that health care presents from a consumer standpoint?

Estimations of the number of U.S citizens dying each year as a result of medical fallacy stands at 98,000, being more than those dying from motor vehicle accidents, cancer, or AIDS. Americans are uncomfortable with the State of chronic care, where 72% of those surveyed trust that chances of those living with chronic illnesses to receive the necessary treatment are very low.76% of nurses surveyed indicated that poor working conditions interfere with their ability to deliver quality care. A survey of over 800 physicians showed medical errors of their own or a family member.

Poor system designs have brought about errors, weak and low quality health care, and lack of satisfaction among patients and health practitioners. For the chronically ill, their needs are not being adequately addressed. Meeting these needs requires the refining of systems of care and greater cooperation and alliance among the health practitioners and more attention to prevention and the observable determinants concerning health.

4. What have been some inventions by the government to make healthcare more accessible and affordable to the public, and what have been the outcomes?

For Americans to enjoy excellent health, they must have the advantage of high quality health care services that are constructively connected within a robust public health system. All health organizations should adopt as their obvious purpose to repeatedly reduce the burden and improve the health and wellness of the Americans.

Majorly, the healthcare system is faced with uncompromising quality and cost challenges. The United States government spends a lot than any other country in supporting the health care sector. United States medical and clinical research is acknowledged as the best worldwide. Nevertheless, the health condition does not match the government’s spending.

The State’s health departments regularly have lawful jurisdiction to control the entry of healthcare providers and purchasers into the market insurance compensation rates for the public, and less frequently, the private providers and purchasers. They may regulate the capability of providers to access required technology and perform complicated, expensive procedures that are vital to the hospitals but create demand on government revenue.

The percentage of people without health insurance in the United States has been cut by half since 2013. Most of the amendments spearheaded by the Affordable Care Act of 2010 were meant to extend health care coverage to those lacking it.

5. Do you think that the Singapore model could be replicated here? Why or why not?

Singapore’s health care system is a goggle, but why it works in Singapore is the reason it would not work in America.

The reason behind Singapore’s success is not government spending; this State uses taxes to fund only close to one-fourth of the State’s total health costs, whereas individuals and their employers pay for the rest. The government spends just $381 per capita only on the health sector, which is one-seventh of what the United States spends. This State requires individuals to account for their health and their spending on medical expenses.

This is where Singapore differs from America’s health system; contrary to America, Singapore’s government regulates and pays for majorly the health system itself, and it subsidizes many medical accruals directly. It would be a catastrophe to try and apply it in a state like America with abnormal medical prices, which proves how far America is from having a reformed health system.