Looking at today’s scenario, U.S ranks at the top when it comes to health care expenditure which is 16.3% when compared with all the developed nations. Currently, approximately 16% of the U.S population which is approximately 44 million people; are not privileged with any kind of health insurance. Health care in U.S is provided by multi-player private organizations, where 60-65% of health care expenditure comes from Medicare, Medicaid, Tricare, Children’s Health Insurance Program, and Veterans health Administration. (Health care reform in U.S).Among the 17 developed countries, U.S ranks 1st in infant mortality, heart and lung disease, STD’s, adolescent pregnancies, injuries and disability (WHO).This is when Barrack Obama proposed the idea of Universal Health Care system in U.S which would cover the population which is not covered under the existing employer health care plans as government programs. The plan would create a National Health Insurance Exchange that would sell health care plans to the population who do not have health care (EBESCO HOST connection). We have tried to show some data analysis of some data with which we can get a better picture of the health care efficiency in U.S
% of Population
Source: WHO, U.S Health care bureau
How will Obama Health Care affect the Health Care Industry?
We all know that Affordable Care Act unlike its name makes health insurance more expensive for the young age group population. According to Manhattan Institute Obama care will increase he underlying premiums by 41% which will be imposed on the healthy and young employees of the country. On the other hand the benefits of Obama care will be enjoyed by the population who is close to retirement and population which is not covered with any insurance. But on the other hand Obama care supporters neglect this fact and divert the people of the country towards the positive impact of this plan. According to them, that is because majority of the population will be protected from the premium hike due to the federal subsidies. Here is the date for the premium rise and fall for some states in the country
The states which are benefiting from the Obama Care is due to the lack of highly regulated individual insurance markets prior to Obama care and that’s the reason these states will benefit from the Obama care subsidies.
One thing to understand about Obama Care is that if you are healthy today, your premium rises and extreme rate burden is faced by an individual. But the same on the other hand for the individual who has severe medical condition and if was not able to afford medication will get better benefits due to Obama Care. Also one more findings have been figured that men will have to face more rate increase than that of a woman because statistics show that women consume more health care than men. Also it is important to understand that post-Obama care exchange plans will narrow down the networks of physicians and hospitals, especially excluding those tied to prestigious medical schools (Forbes).
The serious problem for the Obama care is to fix the exchanges as the outcome or else would be that old, sicker and poorer people will sign up, while everyone else will go without coverage. This will result in imbalance in the insurance pool in the exchanges, making its product more expensive and subsidy-dependent. Moreover the people at greatest risk are the ones facing cancellation of their existing…