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Private Health Insurance

1058 Words5 Pages

Private Health Insurance and the Patient Protection and Affordable Care Act In 1900, the average American spent about $5-$147 per person a year on health care and did not require the use of health insurance (Blumberg & Davidson, 2009). Today, the average American spends about $10,000 per person per year (Munro, 2015). According to the Consumer Financial Protection Bureau report (2015), 43 million Americans have medical debts due to unforeseen circumstances. In order for the United State to address this rising cost of health care, the Patient Protection and Affordable Care Act (PPACA) was enacted in 2010 to control cost and address health insurance gap for many Americans. In several parts of the PPACA Act, all Americans are now required to …show more content…

Following this review, this paper will attempt to strike a balance between opposing public policy views on Title IV, section 9010, of the ACA and provide examples of how this policy would affect businesses in the health insurance industry. Finally, recommendations will be provided to help caution health insurance corporations and a conclusion will be …show more content…

As more and more subscribers sign up for employer-based health plans, private health insurance companies have to underwrite new plans to control the rising health care cost. This is because the more subscribers enrolled into the private health plans, the more medical claims private health insurance are responsible for in coverage. For instance, adverse selection problems and moral hazard problems causes the cost of health care and medical claim costs to increase (“Shift to Employer-Based,” n.d.). People in poor health may claim to be healthy and then sign up for insurance or healthy people can change their behavior by participating in risky activities after purchasing health insurance; making it unbearable for private health insurance companies to cover (“Shift to Employer-Based,” n.d.). Due to this adverse selection and moral hazard problems, private health insurance companies have decided to redefine what is healthy and what is

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With those that are insured favoring a moral hazard and overusing the system could lead to a negative impact on our health care system leaving those who truly needing services paying a higher premium or

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