Have noticed any difference in the costs associated with health insurance since the passing of the...

Have noticed any difference in the costs associated with health insurance since the passing of the Affordable Care Act in 2010?

Expert Solution

Affordable Care Act had 3 primary targets: increasing the number of the insured, decreasing the costs of health care and improving the quality of care. For the period from 2010 to 2017 the Affordable Care Act declined health care spending a total of $2.3 trillion. The health expenditures in year 2017 were $650 billion lower than projected, and the spending on health care was kept under 18 percent of GDP; thus a tad basically over where it was in 2010 when the act was passed. Moreover at the same time there was an expansion of health coverage to more than 20 million who were previously uninsured in U.S. The act has helped to bend the cost curve

Rahul Sunny answered 2 years ago

If there are moral hazards associated with health insurance, then why not eliminate health insurance entirely...

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