Essay The global economic recession and the rising cuts in Medicaid policies due to lack of federal funding has made healthcare unaffordable to a vast group of people especially the elder population. In families where there is strict budgeting or who lack sufficient resources, healthcare remains an elusive entity…
Proponents of the system have claimed that the high-deductibles involved and the health savings account plan of the CDHC system are important factors for its success (Gould, 2006). Providing better service and care for those who cannot afford healthcare should be promoted by increasing the taxes of those with a higher income and thereby make such consumer-driven healthcare initiatives care for the welfare of the needy people (Rodwin, 2003). The consumer-directed health care initiatives were introduced as a means to provide healthcare benefits to the employees within an organization. Initially by this plan employers funded the health reimbursement accounts (HRA) of their employees and hence they decided on what medical expenses can be covered by the plan and whether the funds could be carried over to the next year. However, following the passage of the Medicare Modernization Act in the year 2003, health savings accounts (HSA) were created by which both the employees and their employers contributed to the account and federal standards determined which medical expense was eligible for claim. The funds in the account could be rolled over to the next year and the employee retains the funds in case of job shifts or after retirement. ...
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(CDHC Essay Example | Topics and Well Written Essays - 500 Words)
“CDHC Essay Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.net/other/19829-cdhc.
The paper begins by giving a description of HSA followed by an analysis of the topic. The paper then outlines and explains the economic forces that impact on the topic positively and negatively. An explanation of the topic from an economic perspective is also given and finally, the limitations, assumptions and recommendations from which the constructor could act.
An insurance company pays the medical expenses of an employee while the employer pays for the insurance premium which means that the employee’s wage is also reduced. Consumer driven health plans (CDHC) is an insurance plan that allows employees or individuals to use their own health savings accounts or health reimbursement arrangements to pay directly for health care medical expenses, while still their highly deductable health insurance pays for high medical expenses that they could incur
President George Bush signed the Medicare Prescription, Improvement, and Modernization Act into a law, in 2003. This paved way for the expansion of medical savings accounts, and implemented tax incentives that aimed at encouraging clients to adopt the high-deductible health plans.
The current research highlights the use of Public Private Partnership approach in the healthcare sector. The project analyses the relative merits of Public Private Partnership projects over the traditional methods of project implementation. It also analyses the benefits of the Public Private Partnership projects with respect to the traditional projects.
However, people who can afford to pay more through premiums enjoy better coverage under the healthcare facility. Hence, in the present consumer driven healthcare system (CDHC), the services rendered to the people by the industry are based on their ability to pay and those who pay less receive only mediocre medical services.
The author states that there is a choice of selecting a less expensive quality health service. More individuals are enrolling into consumer driven health plan because it lacks the high deductable factor of other insurance plans and also the consumer has a choice in the health care service to be provided, at a cost effective price.
in understanding how health care is financed and how health insurance influences patients and providers as important foundational information for your role as a future health care worker. Fill in the following matrix. Each box must contain responses between 50 and 100 words
5 Pages(1250 words)Coursework
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