Question

Compare the key components inherent in the national health insurance financing systems of two (2) different countries. Determine the impact that financing health insurance has on the economy of each country that you selected. Provide examples to support your rationale and provide your resources.

Examine the importance of health insurance with respect to the cost of the uninsured on the healthcare system. Interpret the function of the Affordable Care Act in providing insurance coverage to the uninsured. Provide two (2) examples to support your rationale and provide your resources.

Answer 1

The countries that I chose for this comparison are Canada and USA

The dedicated health program of Canada is called National health Insurance Program (NHI). This is a government run entity giving universal health coverage to all. The financing of this entity is done through a single payer system. There are negligible consumer co-payments in the healthcare of Canada. The NHI of Canada is publically funded.

In USA, there is no universal or dedicated nationwide health insurance system. The healthcare insurance can be both government initiated or privately owned here. Majority of the health insurance coverage is employment based in USA. The funding practice of USA healthcare systems are usually privately done. the private investors finance the insurance coverage. There are many fully self-insured firms that cover all types of employee health risks.

An impactful health insurance is one, which covers the maximum lives of the state. There are many people who cannot afford a health insurance and often tend to remain uncovered. It is the duty of the government as well as the healthcare institutions to cover such kind of people. Affordable Care Act aims at covering such uninsured individuals. The objective of passing this law is:

• To provide affordable health insurance coverage to the citizens of USA
• To expand the Medicaid program, thus covering all citizens below federal poverty level
• Encourage and facilitate innovative medical delivery methods

The benefits of this Act will be:

• Decreases the health care cost substantially
• Eliminates any kind of lifetime limits
• Requires all insurance plans to cover the 10 critical health benefits, thus lowing the customers expenses on the same
• Covers individuals having a prior health problem
• Provides easier access of insurance options to consumers
• Children can be covered in the name of parents till they attain the age of 26
• Tax credits on premium is made available to middle class consumers

https://www.kff.org/uninsured/report/uncompensated-care-for-the-uninsured-in-2013-a-detailed-examination/

https://web.stanford.edu/class/e297c/poverty_prejudice/soc_sec/health.htm

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3633404/