In: Finance
Health care finance plays a very important role in the health care segment and it has positively impacted the delivery of healthcare in a significant manner in several countries across the globe.
In USA there are numerous options that are available to individuals to finance their healthcare. First of all there are public healthcare programs that are state governed or federally governed. Then there are private healthcare organizations (private insurance companies), and healthcare exchange programs.
In USA the overall health-care machinery is financed through tax deductions on individual incomes, through government subsidies, through private insurance companies, and also through personal payment for health services. People in USA often select to adopt the healthcare options being provided by their employer and this enables the individuals to pool their contributions and avail a larger sum of coverage.
The problem that was faced by uninsured people in the past has been solved after the passage of the ACA i.e. the Affordable Care Act. The ACA has significantly increased the availability, affordability, and use of health insurance in USA. It has also expanded the private insurance market and this spells good news for the overall health care coverage.
Government insurance programs like Medicare and Medicaid have also been instrumental with regards to health-care financing in USA and with regards to the delivery of health-care in the country.