Cost Sharing In Health Care Essay

The cost of health insurance is detrimental to the lives of the U.S’s citizens due to insurance most Americans lack. As described by Dr. Gerald, as prices and spending increases, purchasing health insurance decreases.1 Though public plans, such as the Affordable Care Act, are implemented for those who may be low-income, lost jobs, elderly, which does not mean individuals are not willing to invest in health. Six percent of families in the United States have medical expenses that increase by 5,000 annually.2 Individuals are looking for fair benefits, and through modifying cost sharing, making it more equal; there will be an increase in health care utilization. Cost sharing is method where the patients pay a portion of their medical expenses that can be done through deductibles, co-insurance, or copayment.1 Copayment prices range from $20-$100, making patients change their behavior if the price it too high, by reducing their visits with a physical, the emergency department, or lack of investment in their health services.2 This presents as harmful to the patient’s of …show more content…
To make cost sharing more equal, a fair percentage of the premium would be distributed amongst all public insurance programs, so that no one is loosing money. A reduction in out of pocket spending will increase patients to invest in their health, and improving the health care system.4 As well as reducing cost, education on the value’s of insurance should be provided for the patients, so that they are aware of what they are purchasing, to better serve their income and health needs.3 A disadvantage the cost-sharing policy might face, just as all health policies, is that many business may not be able to afford the cost of health care, therefore an assessment on the business would help determine a reasonable price that is in line with the equal price of the