American’s current health care system has become one of the nation’s leading controversial nuisance. The Affordable Care Act (ACA) was originally created with morals of assuring every American individual’s right to attain health care regardless of financial circumstances or pre-existing conditions along with government support if needed. Unfortunately, amongst the fabricated promises of security and assistance, this fragmented system impels families to remain uncomfortable and stressed. The additional costs and hidden fees that are woven into health insurance contracts are becoming increasingly more unbearable with every passing year. Our health plan options are seemingly appearing less like decent choices and more like mandatory commitments.
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Affordable Care Act plans enforce higher out-of-pocket costs on customers than other coverage options. In order to keep costs low, many insurance company’s plans use a limited network of doctors and hospitals. To make matters even more restricted, access to doctors as become challenging in states that have expanded Medicaid because many practitioners are opting out of the program due to diminishing compensations. A Modern Healthcare article reveals that “the expected costs of Medicaid expansion during the next ten years will fall just short of $1 trillion, according to the [Congressional Budget Office]. That compares with $803 billion spent on premium and cost-sharing subsidies in the ACA 's exchanges” …show more content…
The Wall Street Journal writer, Drew Altman, states that “seventy-six percent of the public blames drug companies for high drug prices – with just ten percent blaming insurers” (Altman). Since the main buyers of medications are private insurers and the federal government, the pricing decision commonly does not consider the patient’s affordability. Pharmaceutical firms such as Medicare are not allowed to discuss prices with manufacturers while the Food and Drug Administration (FDA) does not consider cost in medication approval at all. Rare value and lack of alternatives influence high costs and “although some price increases have been caused by shortages, others have resulted from a business strategy of buying old neglected drugs and turning them into high-priced ‘specialty drugs’” (Pollack). Because Medicare provides a huge market, it was supposed to save money in reducing administrative costs through negotiating lowering prices with the pharmaceutical industry, but instead has required beneficiaries to purchase insurance from private companies whom are subsidized by the
Affordable Care Act plans enforce higher out-of-pocket costs on customers than other coverage options. In order to keep costs low, many insurance company’s plans use a limited network of doctors and hospitals. To make matters even more restricted, access to doctors as become challenging in states that have expanded Medicaid because many practitioners are opting out of the program due to diminishing compensations. A Modern Healthcare article reveals that “the expected costs of Medicaid expansion during the next ten years will fall just short of $1 trillion, according to the [Congressional Budget Office]. That compares with $803 billion spent on premium and cost-sharing subsidies in the ACA 's exchanges” …show more content…
The Wall Street Journal writer, Drew Altman, states that “seventy-six percent of the public blames drug companies for high drug prices – with just ten percent blaming insurers” (Altman). Since the main buyers of medications are private insurers and the federal government, the pricing decision commonly does not consider the patient’s affordability. Pharmaceutical firms such as Medicare are not allowed to discuss prices with manufacturers while the Food and Drug Administration (FDA) does not consider cost in medication approval at all. Rare value and lack of alternatives influence high costs and “although some price increases have been caused by shortages, others have resulted from a business strategy of buying old neglected drugs and turning them into high-priced ‘specialty drugs’” (Pollack). Because Medicare provides a huge market, it was supposed to save money in reducing administrative costs through negotiating lowering prices with the pharmaceutical industry, but instead has required beneficiaries to purchase insurance from private companies whom are subsidized by the