Rising healthcare costs and its effect on the main spheres of life in the USA Essay
Rising healthcare costs and its effect on the main spheres of life in the USA, 492 words essay example
Essay Topic: life, effect
taking the history of the problem as guide, it can be summarized that the healthcare costs are going to rocket sky high in the upcoming years which might lead to a dwindled quality of life for an average Joe. Because of this, multiple issues have arisen such as lack of insurance, as mentioned in the website Aetna there are at least 50 million people lacking health insurance in the current years. This is due to the fact that since prices are so high and some people bank on minimum wage which is not enough for them to afford health insurance. Hospital costs are increasing, and this roots for the public having a really hard time paying their bills because of increased consumerism and due to this people delay medical attention, leading to further health complications. Rising healthcare costs also affects the nations other significant areas of development because so much money is dedicated towards this sector. When compared to the healthcare costs of other developed countries, US spends two times the amount on health care (PBS) because of political agendas, consumerism and socioeconomic market influences. This causes the taxes to go up by 3% every year (Health Insurance Tax) leading to a harder and fast paced living environment causing a major change in the quality of life and age expectancy.
At the present time, rising healthcare costs is amongst one of the major problems faced by this country. LA Times reports that the rate of healthcare costs are rising faster than the rate of inflation and the average deductible has increased from $303 to $1077 between the time frame of 2006 and 2015. In the words of Drew Altman, head of Kaiser Family Foundation and the Health Research & Educational Trust, he says When deductibles are rising seven times faster than wages it means that people cant pay their rent. They cant buy their gas. They cant eat.(Healthcare costs rise again), this evidently pictures the hardship the average worker has to go through to be able to feed and provide himself shelter. Rising health care costs penalize our nation on various sectors. For elderly and their families, this means less money earned, giving them a hard time to provide food on the table, take care of their bodies and be able to pay for rent and other life necessities. Rising healthcare costs also affect employees and employers as seeking and providing employment becomes more difficult. Businesses and companies have to keep with employees health insurance costs, thus lowering the employment rate and lowering down the average salaries. Nearly $800 billion are spent on this sector by the US government (Reuters) every year leading to less funding towards other important issues like Education, infrastructure, environmental resources etc. Rising healthcare costs should be given a considerate amount of attention by the general public because not only it affects them in the short & long run but to change the quality of life of an individual for the better as the