The need of reducing cost of Healthcare in US
United States of America has a huge healthcare system. It is a complex system of public spending by the government on health care programs and private spending of health care based on health insurances of different kinds. It is a subject that is much debated by politicians and there have been legislations that have been passed by various governments to make the health care system in the U.S work better. Despite of the huge expenses incurred by the public and private sector on health care, there are still a large number of people in the country that are not insured or find health care too expensive.
Moreover health care bill that the economy faces is very high. The cost of health care with relation to USA’s GDP is very high compared to other developed economies. The government spending is come under much discussion in the last few years. A major part of the overall government spending is on health care. Ideally every month the government should overall spend as much as it earns in revenue.
That means there must be a balance between the revenue generated by the government with the overall spending done by the government. If the government does not balance the revenue side with the spending side it needs to borrow money which has lead to the debt ceiling crisis.
But while figuring this balance out, they must also be careful to not compromise on health care on which millions of Americans depend on. So the key problem is to make healthcare affordable to the people and also reduce the cost of health care in the economy. This is very difficult to achieve. Also another important point is that the health care provided in the U.S is not the best in the world and also improvements in health care are needed which again cost more money.
Moreover when private organizations are in charge of their employee health insurances, it can be a disadvantage to the economy. What happens is that private organizations need to pay for the insurance of the employees and this can add to the overall costs for the companies and hamper the growth of the companies.
The need is to find solutions to this problem that will improve health care and provide every American with proper health care but at the same time reduce the costs of health care in the U.S economy.