Healthcare industry Analysis essay
August 1, 2011
Healthcare Industry Analysis Essay
The health care industry is a billion dollar private industry compiled of private and state funded insurance companies that charge consumers absorbent amounts for health care services. Each year more families find themselves unable to afford healthcare insurance or going without it all together. In some states, such as the one I live in Texas, our state offers subsidized health insurance to middle class families who make too much to qualify for Medicaid or either cannot afford insurance coverage nor have access to group coverage which is generally offered through an employer. Pharmaceutical companies work hand in hand with the insurance companies, doctor’s office and hospitals to ultimately make a profit on a service no one can honestly be without. The consumers both young and old are the most affected. The elderly can sometimes not afford to pay for their medicine that they need to survive. They find themselves making life decisions at the pharmacy counter, do they want to eat this month or buy their medicine. Those that can afford it are may find it hard to maintain as medical expenses are said to be the number 1 cause for consumer debt and bankruptcy filing within the last decade. Even in today’s’ market where most chain stores offer generic prescriptions to consumers at a discounted price, not all medications are available.
Although the government has implemented insurance coverage plans assist low to moderate income workers with access to quality health insurance , this seems to be a no win situation for those who can afford health coverage as we tend to pay higher taxes to assist those less fortunate. There needs to be some sort of health care reform to help lower the cost of coverage for minimum wage workers.
Over the next 3 years I expect a continued increase in the cost of health care insurance. The more...