Health Care Reform Obamacare

Hayak vs. Keynes

Goal Attempts to take the 50 million uninsured and put them in a subsidized private market for health insurance, so they don’t have to use the emergency room as their primary health provider. Attempts to take the 50 million uninsured and put them in a subsidized private market for health insurance, so they don’t have to use the emergency room as their primary health provider. About 70% of bankruptcy are caused by health related problems. Average bill for hospital care over $20,000. (includes those who don’t have insurance and those who do, but can’t afford out of pocket costs. About 70% of bankruptcy are caused by health related problems. Average bill for hospital care over $20,000. (includes those who don’t have insurance and those who do, but can’t afford out of pocket costs. Mandates that everyone have either health insurance OR pay a fine/tax. Mandates that everyone have either health insurance OR pay a fine/tax.

How Paid for Premiums will be paid by all, based on need. Huge boon to the health care industry. Most of the currently uninsured will be subsidized. Premiums will be paid by all, based on need. Huge boon to the health care industry. Most of the currently uninsured will be subsidized. Savings from money currently paid by government to hospitals. Savings from money currently paid by government to hospitals. More negotiation power by numbers in the new cohort of insured. More negotiation power by numbers in the new cohort of insured. Student loans are now managed by government, so they get fees previously given banks. Student loans are now managed by government, so they get fees previously given banks. Savings from Fraud. Savings from Fraud. Savings from managed/well care Savings from managed/well care 3% raise in taxes on long term capital gains to 18% 3% raise in taxes on long term capital gains to 18%

As it is now We pay 17% of our GDP on health insurance, double of most developed nations. We pay 17% of our GDP on health insurance, double of most developed nations. We pay about $7500 per capita about 1/3 again of other countries. We pay about $7500 per capita about 1/3 again of other countries. We are ranked 37 th in the world for health care delivery. We are ranked 37 th in the world for health care delivery. We are about 14 th in Life expectancy. We are about 14 th in Life expectancy.

Protections Covered until 27 Covered until 27 Cannot by kicked off when sick Cannot by kicked off when sick Must insure those with preexisting conditions, at higher rates. Must insure those with preexisting conditions, at higher rates. Free preventive care Free preventive care Free Women’s health procedure, at same cost as men. Free Women’s health procedure, at same cost as men.

Health Care as % of GDP

Cutting Overall Costs Most modern countries have a single payer health care system, where everyone pays taxes into government run system. No out of pocket costs, but can be additional "Cadillac plans" if you choose Most modern countries have a single payer health care system, where everyone pays taxes into government run system. No out of pocket costs, but can be additional "Cadillac plans" if you choose Government could then mandate expenditures and incentives to doctors and hospitals. Government could then mandate expenditures and incentives to doctors and hospitals. Computerizing medical records (privacy concerns) Computerizing medical records (privacy concerns) People fear a reduction in services and/or ballooning costs. People fear a reduction in services and/or ballooning costs.

Free Market Approach Allow insurance companies to compete widely across state lines. Use an APP for that: you plug in needs and click and the APP will sort the companies by price and you can read reviews from customers. Competition will create cheaper, more efficient plan. Allow insurance companies to compete widely across state lines. Use an APP for that: you plug in needs and click and the APP will sort the companies by price and you can read reviews from customers. Competition will create cheaper, more efficient plan. This is also what Obamacare attempts to do with the currently uninsured. This is also what Obamacare attempts to do with the currently uninsured. Mass. did a version of this and only increased spending by 1% Mass. did a version of this and only increased spending by 1%

Single Payer alternative Most modern countries have a single payer health care system, where everyone pays taxes into government run system. No out of pocket costs, but can be additional "Cadillac plans" if you choose Most modern countries have a single payer health care system, where everyone pays taxes into government run system. No out of pocket costs, but can be additional "Cadillac plans" if you choose Government could then mandate expenditures. Government could then mandate expenditures. People fear a reduction in services and/or ballooning costs. People fear a reduction in services and/or ballooning costs.

Major concerns Constitutionality of mandated purchase of a commodity. Constitutionality of mandated purchase of a commodity. Another HUGE entitlement that we can’t afford. Another HUGE entitlement that we can’t afford. Lack of efficiencies and quality of care in government plan. Lack of efficiencies and quality of care in government plan. Government chooses care: Death Panels Government chooses care: Death Panels