The pharmaceutical industry spends billions of dollars on marketing every year just to tell customers about their newest medicines. They claim to educate the public with their advertisements and commercials and that they will help them in choosing their medical care carefully. When in reality they are taking your money for their own personal gain rather than actually trying to help them by providing affordable medications that their health care coverage will pay for. The pharmaceutical industry spent about $4.5 billion on marketing by itself in 2014. This is an issue because while people watch these commercials for new medications, they are oblivious to the fact that there are older and cheaper versions of those same drugs that do the same thing.
In 2011, Vermont governor peter shumlin came up with ‘green mountain care. The reason why this solution failed was because it lacked funding and because they could not come up with the taxes they needed to make the plan work. ‘The Lack of finding I clearly a part of it because once they sat down and assessed what types of taxes were needed to make the plan feasible, they were just too high'. The main reason why it failed was because of the high tax revenue that would be needed to finance a program like thi. Another reason was because there was an administrative process problem and they were not exposing it clearly to people. Although this solution did not work, it does not mean that it can not be done, there were just lots of puzzling political challenges here and there.
In 2010 the Affordable care act was passed, also known as Obama care. Obama care is the default health care plan and has been for a while, but nevertheless it still failed because it wasn't flexible enough for people to buy as much health care coverage as they wanted or as much as they could afford. The source stated that ‘Obama care failed because it flunked economics 101 and human nature 101'. People had no choice but to go with Obama care because it's best healthcare plan there is. They did not want to go uninsured because the penalties for it was $695 per adult, or 2.5 percent of a family's taxable household income. Therefore the affordable care act or ‘Obama care', was in fact detrimental to a lot of people but, one can not rule out that it also helped a lot of people.
One workable solution would be to strengthen health care instead of trying to replace it with something that still might not work. For example, expanding access to health care coverage for moderate income families or single persons. Congress should direct the IRS to interpret the relevant sections of the internal revenue code, so that working families are not excluded from marketplace tax credits. ‘The result could allow up to 4.7 million people to gain access to more health care coverage.'This could help protect more of the approximately 4.8 million eligible taxpayers from receiving over payments in advance premium tax credits. This could result in dramatically expanding healthcare coverage for families who currently receive little assistance under the ACA (Affordable Care Act).
Reducing cost sharing and out of pocket limits can improve employer coverage requirements. Congress should amend the aca to expand eligibility for cost sharing reduction payments and reduce out of pocket limits for moderate-income families. Congress or the administration should also improve minimum essential coverage and minimum value requirements to ensure that workers receive a minimum level of protection. These reforms could lower The price of health care coverage for millions of people.
Improving the customer marketplace experience could actively guide consumers in health care coverage selection. The marketplaces should give better tools, and personal assistance to customers to select healthcare plans.' This will help ensure the customers enroll in the plan that best suits their needs and resources'. The marketplaces and state regulators should demand greater network and formulary transparency from insurers and deploys tools to help customers better understand the networks available to them. Therefore this could help ensure that access to appropriate care and continuity of healthcare for customers.
Another solution is to improve Medicaid payment rates so that more people can afford it. The department of health and human services and the states should take action to ensure that Medicade payment rates are sufficient to ensure adequate provider participation.' Medicaid beneficiaries meet not only a guarantee of coverage but also of actual access to available providers. This will make it possible for more people to be able to afford Medicaid. As you can see, by using this solution it will ensure that most people will be able to afford Medicaid.
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