Question

Many Americans benefit from the investments in healthcare; however, the recent cost growth, coupled with the economic downturn and rising national deficit, has placed a great strain on the financial systems used to finance healthcare, including private employer-sponsored health insurance coverage and public insurance programs, such as Medicare and Medicaid. What is the responsibility of individuals for the cost of their care? Are health savings accounts and high-deductible insurance policies an approach that should be expanded? What are the concerns for low-income individuals?

Answer 1

Firstly, all.the mediclaim and health insurance policy take money from you and return it in the form of aid when you suffer from any serious medical problem or health issue. Chances of which are very less. For example: If a sample of 20 people invest equal amount in a health insurance scheme then the probability of any one of them getting ill is very negligible. Same concept applied over a huge population gives the benefit to the insurance company. Since, they receive huge amount of money from people and pay money to a very small group of people.

Concern for low income individual

1 - Less income leads to less focus towards health and fitness

2 - Less allocation towards amount for health

3 - Low budget for insurance and mediclaim