Consumer Driven Health Care Essay Example | Topics and Well Written Essays - 750 words

Consumer Driven Health Care - Essay Example Consumer Driven Health Care (CDHC) is a three-tier health insurance plan that allows individuals to use their health savings accounts, out-of-pocket payments or health reimbursement arrangements (HRAs), to pay for health care expenses (Collin et. al., 2005). CDHC allows members to pay for health care services in this way while still their health insurance policy pays for more expensive medical expenses. Health Insurance is highly deductable and costs less when used to pay for health care expenses but for routine health care expenses, an individual pays directly for the expenses through a pre funded account provided by a bank or an insurance plan. 2.0 Goal of Consumer Driven Health Care Consumer driven health care gives an individual the opportunity to pay for routine medical expenses using consumer controlled account instead of the highly deductable fixed health insurance. This is an advantage to the patients because it allows them to have a greater control on their health care budgets. In this consumer driven health care plan, individuals have a role in decision making regarding the care they receive. Patients are able to ask about the cost of a treatment and choose a treatment option that is less expensive. This consumer directed health plan also advices employees on cost and selection of quality services, which enables employees to make informed decisions on their health care (Rowe, et. al., 2008, pp.12-19).... care gives an individual the opportunity to pay for routine medical expenses using consumer controlled account instead of the highly deductable fixed health insurance. This is an advantage to the patients because it allows them to have a greater control on their health care budgets. In this consumer driven health care plan, individuals have a role in decision making regarding the care they receive. Patients are able to ask about the cost of a treatment and choose a treatment option that is less expensive. This consumer directed health plan also advices employees on cost and selection of quality services, which enables employees to make informed decisions on their health care (Rowe, et. al., 2008, pp.12-19). Through the national health care plan, low income earners can also enjoy the benefits of having the consumer driven health care plan because they will be able to afford the health care services. Health care providers respond to the high consumer enrollment to the health plan by fu rther providing quality services at cost effective prices. 3.0 Disadvantage of Consumer Driven Health Care Employees that are enrolled into the consumer driven health care plan tend to pay more for health care services because of the out of pocket payment, compared to those enrolled in traditional payment plans (Collins et. al., 2005, pp.8-23). Low income employees are highly negatively affected by this health care payment plan than high income earners. This is because these employees face the risk of high out of pocket payments and most opt not to receive treatment because of the high expenses. This leads to more ill workers that and has a long-term consequence both to the worker and the employer. Delaying or skipping treatment due to high health care costs affects negatively on an

Income Inequality Essay Example | Topics and Well Written Essays - 1000 words

Income Inequality - Essay Example en noble countries are among the richest in the world, the figure of income per capita does not add up to the income distribution of the available population of individuals. This proves the income inequality serving in wealthier countries in the current world, especially, the United States and the United Kingdom countries (Beggs, 2015, Pg. 1). Income inequality within such countries is regularly disguised by the national average. This essay focuses on the growing income inequality issue in the wealthiest countries across the globe and the consequences of concealing economic inequality. Economic variation differs between civilizations, historical epochs, economic arrangements and systems. The term can denote a cross sectional distribution of income or capital at any specific era, or to the generated income and capital over lengthier phases of time. There are numerous arithmetical indices for calculating economic disparity. The commonly used methodologies include the Gini coefficient and the Lorenz curve, however, there are still other methods (Conferenceboard, 2015, Pg. 2). Economists have stressed that income inequality has brought about growing social problem. The economist view that the world cannot be a just and fair place for everything but too much disparity can be damaging. This is because income disparity and wealth focus can obstruct long term growth of a country’s economy. Previous economic studies contrasting disparity in economic growth had been unsatisfying, nevertheless in 2011, the International Monetary Fund economists revealed that bigger income parity, less disparity, heightened the period of countries economic growth development more as compared to while having free trade, low institutional corruption, overseas investment, or small foreign debt (Beggs, 2015, Pg 1). Nevertheless, the increase in income disparity over the past few decades, the subject was mainly overlooked. An article on The Economist post was dedicated on income inequality