Health Care Cost Essay

Good evening Professor and Class. There have been several factors which have led to increased health care costs. The first factor to consider is the overall age of the U.S. population. According to Rushefsky (2014), the U.S. is an aging population which declines in children and projected rise of the elderly (65 years old and greater) expected to triple by the year 2050. Essentially, with a more elderly population the U.S. would be expected to pay more in medical treatment, hospital stays, and assisted living. Next, there is the factor of technical progress. With new technology and experimental procedures comes another onset of high costs to the healthcare system, which are necessary to offset the costs of developing new technology (Mongan, Ferris, & Lee, 2008). Fundamentally, the adage of it takes money to make money

puts on the need for medical care it makes it difficult to apply public policy to control cost, therefore, rising costs. However, though there are many factors which contribute to rising health care costs, there are also many methods which have been used or could be used to combat these costs. One such control measure instated in 2010 was the Affordable Health Care Act. Rosenbaum (2011) reports the Affordable Health Care Act sought to expand the insured pool to stabilize an adequate money pool by requiring all citizens to subscribe to a health insurance plan while additionally taxing personal investments to further fund health care. Essentially, the Affordable Health Care Act was a means to create health care for all and offer options with plans, however, coverage was limited and required those more well off to finance health care through their investments which the idea that expansion of the insured pool would stabilize the risk with the young using coverage more sparingly than the elderly. Moreover, health care reform to a budget-based capitation may be one viable