M5C Obstacles and Pitfalls to Success - Essay Example

Obstacles and Pitfalls to Success: Rising Health Care/Insurance Costs A health insurance plan is one of the basic requirements of every individual. It is greatly important for every caring party to engage in a successful heath plan. In every venture, there must be some underlying shortcomings and hurdles to be negotiated and overtaken and health plans are no exception of these happenstances. Remarkably, success does not come on a silver platter. Every concerned party must toil and put more efforts with better and effective methods to succeed.

As noted, there exist several obstacles and pitfalls in the way of attaining this vital target. More emphasis is put in the endeavor to attain and maintain a considerable health plan which is being inhibited by the massive heath costs and invariably rising insurance costs. Insurance costs are increasing at an alarming rate with many medical insurance pundits alleging that the high risks in the current heath status of many individuals are the contributing factor (Pauly, MacGuire & Barros, 2011).

Several factors have been continuously discussed on their influence to the obstacles, pitfalls and barriers of a good health care. Significantly the status of the economy has a haphazard impact on the costs of insurance and the heath care in general. A conducive and better performing economy where virtually all levels of income to the citizens are high and the costs of living low will enhance the affordability of a successful health plan (Pauly, MacGuire & Barros, 2011).Moreover, inflation, continuously poses a big threat to the insurance and health costs.

These prices are soaring high and high with the rise in inflation rates an indication of a poorly performing economy. A successful health plan needs stable and steady economic conditions which will allow the concerned parties to attain their esteemed goal (Pauly, MacGuire & Barros, 2011).As noted earlier the levels of income play a big hand in the accomplishment of a successful health plan. Evidently, this influence is demonstrated in the instance of increased propensity to save which enhances the availability of more funds to secure health services when one is rendered less productive or retires.

In addition, high income illustrates a better level to afford insurance costs which with the increasing health risks, diseases and infections are continuously rising (Inhurst, 2009).Unemployment rates are another key factor influencing on the costs of health care. With high population being unemployment and rising dependency levels many insurance providers are finding it inevitable to raise their costs to safeguard against the cover they are providing to these individuals. It is quite risky and threatening to the insurance sector because of the increasing number of individuals being put under a single cover plan (Inhurst, 2009).

Complex diseases and conditions are currently emerging with high demand for expensive treatment. Most of these maladies are resulting from the impact of global warming which in effect is causing the costs to increase. The coming up of several cancer strains and difficult hereditary and pre existing health conditions is widely influencing the insurance and health costs with the ultimate effect hitting hard on the success or failure of the health plan (Inhurst, 2009).Conclusively a comprehensive overhaul and reforming of the health insurance sector will bring an effective and remarkable success of health plans.

Furthermore, this change can only be attained with the improvement of the economy to allow for the creation of more jobs, raise income levels and establish and maintain a stable and low inflation rate. In addition measures should be taken to reduce the impact of global warming to counter the emergence of more contagious and drug resistant diseases and infections.ReferencesInhurst, R. (2009). Health Care Costs: Outlook and Options. New York, NY: Nova Science Pauly, M., MacGuire, T., & Barros, P. (2011). Handbook of Health Economics, Vol.

2 Amsterdam: Elsevier