The economic questions of \"what, how and for whom\" Without government assistan
ID: 1222932 • Letter: T
Question
The economic questions of "what, how and for whom" Without government assistance many people would not have healthcare insurance coverage and those people who do have insurance pay for those who do not through higher rates. Many uninsured go to hospital emergency rooms when they are sick, injured or whatever, the hospital cannot refuse service and the cost is absorbed by the total hospital financial overhead. Through insurance rates individual policy holders pay for the uninsured, Should the health care system be controlled by the "invisible hand" without government intervention? What is the role of government regarding the "for whom"? Norm Please read the sites that I have included especially the second one as it the percent of the population that is not insured for each State. Norm http://www.nytimes.com/2014/09/16/us/number-of-americans-without-health-insurance-falls-survey-shows.html?_r=0 http://kff.org/other/state-indicator/total-population
Explanation / Answer
No, there should be government intervention to offer insurance coverage to those who cannot afford the insurance plan on their own. Leaving the health care system upon the mercy of invisible hands and without any government intervention will discourage it in multidimensional manner. First, financial overheads will increase that will affect the quality of service. Second, there will be an additional burden of increased insurance rates. It will have a detrimental effect on the expansion of health care industry. Third, GDP will also suffer due to stagnant growth of the economy.
Regarding the “for whom”, the government identifies the class of people such as senior citizens and community with economically poor background and give them the insurance coverage. It reduces the overall financial overheads of the hospital and they can achieve efficiency.
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