Health Insurance Articles
Health Care Reform: Who Will Foot the Bill?
2009-07-31
Unhealthy Economy, Healthy Nation: Who will pay?
Improved health care for everyone in the U.S. may be a universally acceptable notion, but how to fund this is a completely different issue. From health insurance coverage to overall health care, everything costs. Regardless of political persuasion, politicians and medical professionals alike are both aware of the need for sustainable and improved healthcare and perennially divided on footing the cost.
Though he may have offered a positive “don't be against us” position on health insurance coverage and health care for the U.S., President Obama is yet to confirm where the money for this will be sourced. Even conservative estimates are suggesting that a full overhaul of U.S. health care would require $500 billion over the next ten years. Whether this figure is accurate, and assuming that the President is determined to follow through with this, the question remains: Who is going to pay for health care reform?
If you listen to various congressional ideas, you may begin to scratch the surface about how difficult health care reform funding truly is. Should we reduce some of the tax breaks afforded to the wealthy? Should we tax employer funded healthcare benefits? Should we raise taxes or reassess where our existing tax dollars are allocated. As with any discussion about health insurance, health care, or health care coverage in the U.S., the ideas are many, but the agreements fewer. When Charles Rangel, Chairman of the House Way and Means Committee, recently suggested a substantial surtax on higher income brackets to fund health care reforms, the reception was lukewarm at best and icy at worse.
Realistically, health reform in the U.S. is a welcome notion but funding nightmare. Of course, with the economy in dire straits, any health care funding or funds for health insurance improvements must be carefully sourced. Making the federal deficit worse for the cause is not an option. Thus, not only are the options open for discussion, but the effect of health care reform on the economy as a whole is a major consideration.
Ultimately, health care reform in the US is something that is desperately needed. Funding this health care and health insurance overall, however, remains the stumbling block for pushing things forward, regardless of President Obama's plan. As Len Berman of the Urban Institute put it, "I could name you 20 different ways to pay for health care reform in 30 seconds, but they have all been ruled out by key members of Congress."
So the question remains: Who will pay for health care in the U.S.?
