Healthcare Costs Climbing

The cost of the government provided health care has reached a massive amount. This is primarily for United States citizens under the age of 65 with the need for healthcare as well as employer-provided healthcare too. Allow me a moment to share Some interesting information about this massive amount of money the government is slated to spend.
$685 billion dollars is what the government of the United States of America is about to spend to cover the cost of insurance subsidies. These costs are mainly stemmed from work-related health coverage of government-sponsored health coverage. One area os health costs that have a small effect in comparison to the above-mentioned effects is The Affordable Care Act, otherwise known as, ObamaCare. This plan only costs the government $55 billion. This was the smallest of the combined segments that make up the massive amount of money to be spent. The most notable of all the segments is Medicaid and Children’s Health Insurance Programs. This segment costs $296 billion in Federal spending.
With the upcoming changes due to President Trump’s initiative, primarily with the mandate for health insurance being removed, many Americans will drop health coverage. This will cause insurance premiums to rise. According to research found in Bloomberg.com, the subsidies of the Affordable Care Act are designed to protect people in the program from premium increases. This same research also noted that about 29 million people will go without insurance in an average month this year.
Never an easy task when it comes to health insurance and the many complexities involved therein. While many Americans will not have insurance, many of the currently insured will face rising costs of premiums to withstand the increase. According to the Congressional Budget Office, the CBO, this number of $685 billion will almost double over the next decade. That’s a staggering amount of money when you think about the implications of such an increase. This allows us to be aware of the steady rise and the oncoming events in the health care system.
In summary, research has shown that there is some astounding debt to be paid over the course of time and that same amount may double soon. Maybe a plan to cut costs will surface in the near future or maybe not. What we do know is that many Americans will go uninsured this year alone. Healthcare costs are on the rise and climbing daily.

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About the Author: BJ Hetherington

BJ is the lead editor of Meical Daily Times. Fluent in French and proficient in Spanish and Arabic, he focuses on diseases and conditions. BJ is a graduate of York University In Toronto. When BJ isn't busy writing his next piece, he can often be found running the streets of the GTA.

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