This huge amount of governmental expenses spread within a period of up to 10 years will result in a slower economic growth. The slow down in the economic growth of America's economy will also be due to the fact that the U.S. economy is currently heavily burdened.
Burden to Healthy People:
One of the major controversial portions of Obama's health care plan is the burden it places on healthy people since they have to take care of the health insurance costs of unhealthy people like the obese or those who smoke. Additionally, it's compulsory for Americans to get a health insurance or they will be subjected to a tax increase that will be used to fund the health insurance costs of others. Under Obama's health care plan, health insurers are banned from imposing different premium charges that are dependent on the customer's health. Moreover, the proposed health care reform plan will also bar rewarding people who follow a healthy lifestyle (Tully, 2010). The other provision in the plan is that it forces young people with lower incomes that older workers to pay more than the actual health coverage cost while rewarding these older workers with a big discount.
Tax Increase:
According to President Obama's health care plan, high income employees will be subjected to a tax increase. For instance, if an individual earns more than $500,000 annually, he/she will have an approximate of 1% tax increase as compared to the current health system. The plan also proposes a 2.9% tax evaluation on income from royalties, dividends, interests, rent and annuities for people will over $200,000 as well as families with more than quarter a million annually. The plan also subject people who reject to acquire health coverage and businesses that don't provide their employees with health insurance to fines.
Health Care Rationing:
This is one of the unintended consequences of President Obama's health care plan since the government will have more power in the health insurance industry. With the government having more control of the health care industry, there is a likelihood of patient's confidentiality being compromised since health information may be maintained by the government. Moreover, the government may be forced to ration health care services, equipment and drugs if bribery occurs.
Potential Responses of Health Care Providers:
President Obama's health care plan is currently raising debates on because of the impact and challenges it's facing in the health care industry. The plan is already facing several hurdles because of the responses of the three major health care stakeholders in the health care industry as explained below & #8230;
Health Care Providers:
Hospitals and physicians are likely to oppose Obama's health care plan because of the unclear changes that would be made to malpractice awards. These changes will in turn establish the tests and referrals that doctors prescribe with the patient having the ability to sue the physicians or hospitals in cases...
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