Essay on Solving High Insurance And Medical Cost With Cash

1155 Words Nov 20th, 2016 5 Pages
Solving High Insurance and Medical Cost with Cash
Rising insurance premiums and medical cost is a growing problem in America and finding ways to curve the costs is becoming a major topic for lawmakers, citizens, insurance providers, and health care providers. The Affordable Care Act (ACA) passed in 2010, although well intended to help the uninsured, has proven to be less affordable for those individuals or families, who are considered modest income or middle class (Butler, 2016) and above the income poverty level (>138% and <138%) (H.R. 3590) through the Medicaid expansion program which is funded with tax dollars that is also paid by middle class Americans. There has been numerous possible solutions discussed; allowing individuals to purchase insurance across state lines, allowing individuals to pool together with other individuals as a group to purchase insurance, single payer insurance, subsidies, and tax credits, but do they really solve the problem of higher costs. One solution that has not been discussed often enough is paying with cash and how paying with cash can actually reduce costs (Braverman, 2016).
Insurance companies is in the business of making money by providing health insurance and need a high volume of healthy customers to offset the high cost of medical expense benefits paid on behalf of customers who are sick. The ACA sets strict guidelines which prohibits discriminating against individuals with pre-existing conditions, setting annual limits and lifetime…

Related Documents