Essay on The Cost Of Health Care

884 Words Feb 26th, 2016 4 Pages
Now that we know the basics of the services available we can move on to how these services are paid for once rendered. For the U.S., the financing breakdown consists of “health care expenditures were paid by households 28%, private businesses 21%, state and local governments 16%, and federal government 27%.” ("HealthPAC » Health Care Statistics in the United States," n.d.) Americans spend more money on health care than any other of the industrialized countries, and the cost of health care continues to rise. The reasons for the rise in medical cost in the U.S. are due to the inflation of medical services, the aging population and the continual change in the medical field itself. Canada on the other hand “spends far less of its GDP on health care (10.4 percent, versus 16 percent in the U.S.)” (National Bureau of Economic Research, n.d.) Most of this funding comes from the public source since health care coverage is universal and little comes from the business and private insurance plans. This also is unlike the Americanized health care program where most of the coverage would be from private health care programs, businesses and then government funding. According to the Conference Board of Canada all this spending does not necessarily mean that one is getting the best medical care possible. It appears that even though the U.S. spends more in health care than Canada and many other countries, it has the lowest life expectancy. Being that the overall quality of life and life…

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