The Effects of a Recession on Health Care
The current recession has forced many Americans to live pay check to pay check and to reprioritize their spending when it comes to financial matters. Many are forced to scale back spending except for the most essential items such as food, housing, gas and insurance. But this is not exactly a paper on the current economic crises that is affecting the spending habits of so many people, unless you consider health care as an essential item rather than a privilege for those that must struggle to find a way to afford it.
The current economic crises that is facing many Americans today, is a recession not seem since the depression. Years and years of wars, out of control spending by the government resulting in trillion dollar deficits, government bailouts, increase costs in every day essential items, increase in bankruptcies, and the staggering unemployment numbers has left very little financial resources to contribute to the health and well-being of the population.
Employee Based Insurance
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More and more companies having to scale back costs, are shifting their health care plans that they once generously provided to their employees at reduced costs, are now forced to either change benefits or cost-sharing provisions that makes the employees responsible for higher deductible plans with health savings account or other creative high deductible options, these costs saving changes, force many employees to look elsewhere for affordable private insurance or simple do without even for basic care for acute and chronic conditions (Bernstein,