Question

how does the government regulate the healthcare market place to protect the welfare of the public?

Answer 1

The Affordable Care Act (ACA), enacted in 2010, created "shared responsibility" for ensuring that all Americans have access to affordable and high-quality health insurance between government, employers, and individuals. Health coverage, however, remains inconsistent, with multiple public and private outlets as well as significant disparities in insured rates across the U.S. population. The Centers for Medicare and Medicaid Services (CMS) administer Medicare, a federal system for 65 and older individuals and certain people with disabilities, which work in collaboration with state governments to manage both Medicaid and the Children's Health Insurance Program (CHIP),

Private insurance is largely regulated at the level of the State. State and federally operated health insurance marketplaces were formed in 2014 to provide direct access to private insurance coverage, including premium income-based incentives for low- and middle-income individuals. Furthermore, states have been given the opportunity to engage in a federally funded Medicaid eligibility extension.

The duty of the Government to protect and advance society's interests involves providing high quality health care. Since the market alone cannot guarantee access to affordable health care for all Americans, the government must protect its citizens' interests by supplementing the gaping market and controlling the market where there is inefficiency or unfairness. The ultimate goal of delivering high quality care will involve strong partnerships between federal, state, local, and private sector governments.

Translating general principles concerning the proper position of government into individual acts within a rapidly evolving, decentralized delivery environment would entail joint public and private sector efforts.