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Week 4 Discussion Healthcare - The primary benefit of...

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Folks, a significant portion of GDP is spent on Healthcare. Do we know that portion? Having discussed that, which system do you favor? Should we privatize the entire health care system and let the market price to be the leading indicator? Supply and demand for health care services than will determine the equilibrium price. What is the problem? 17 % of the Gross Domestic Product (GDP) is spent on healthcare which translated into $2.4 trillion in 2007 or $7900 per person in the United States. The article below goes onto explain that in 2008 employer offered health care insurance premiums increased 5 percent which was twice the rate of inflation.
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Unformatted text preview: The primary benefit of privatized health care according to one article is keeping a free market for health care insurance. The example used is car insurance. Everyone may be required to have it, but it is up to them were they purchase their insurance. Apparently some states have already put into practice a similar approach and it benefits them by making millions of uninsured people purchase insurance but it also necessitates little or no change on the insurance company’s part. Sources: http://www.nchc.org/facts/cost.shtml http://hubpages.com/hub/What-are-the-benefits-of-Nation-wide-private-health-system...
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