Hcs 440 Economics: the Financing of Healthcare Essay
The current level of national healthcare expenditures The National health expenditures is defined as any funds spent on and for healthcare services. Healthcare funding consists of individual, public, and …show more content…
How the general public’s healthcare needs are being paid
The general public’s healthcare needs are paid for by two major sources; private and public insurances. Private insurance is health insurance that is typically offered by employers and purchased by individuals to pay for their healthcare needs. This type of insurance can also pay for services not typically paid for by Medicare and Medicaid such as dental and vision services (Kaiser Health, 2010).
Public insurance is health insurance paid for by the government and is issued to individuals that are age appropriate, disabled, or that meets the income requirements. Medicare and Medicaid are examples of public health insurance. In 2007 individuals insured by private health spend 35 percent of the total health expenditure; while those insurance under public health insurance or