I realize some of you may be out of work and concerned about health care and rig
ID: 1138253 • Letter: I
Question
I realize some of you may be out of work and concerned about health care and rightfully so, but for economic's sake let's consider the cost to society. This is a microeconomics class but every individual (micro) decision makes up the total (macro) economy. Based on what you know of the health care debates (regardless of party affiliation) do you feel taxes would be raised to pay for health care? Would services be rationed or delayed beyond reason? How do you feel about being made to purchase insurance if you don't want to?
What are your thoughts concerning health care from an economics standpoint? This should be a lively debate given the next financial cliff!
Explanation / Answer
Ans- Health service are not free anywhere in the world. The existing health care systems which have been agreed to by citizens of other countries cost a lot of money, tax money paid by citizens of those countries. Poor people can't afford to buy health insurance policies, there is a single payer tax based system for them. Private insurance companies make billions in profits writing these policies. They also fight tooth & nail to avoid paying out rightful benefits to protect these profit. A one payer system will not cost more. Taxes will go up but will no longer be writing a health insurance premiums check. Every month.
Health care is a scarce resources, and all are rationed in May ways. Many arguments in favor of health care rationing are based on implicit assumptions that we can have a society in which resources are allocated in which marginal dollars are spent where they bring the greatest benefits. In a society dominated by special interest groups, profiteering within the health care profession and with growing role of for profit making corporation in the health care area, rationing will have very different consequences. It will tend to hurt the poor and the elderly but not necessarily benefit the health care of any group, while waste will continue unabashedly in this sectors.
I feel unfair to have paid years of insurance and then be cut off and forced into higher premiums and less coverage. So decided to dump their insurance, fork over the tax penalty and pay own medical costs.