Why Health Care Reform is Essential to our Health

Health care reform is a key issue for our country, especially for our young people who are not ready to sacrifice their personal life due to its importance. Youngsters must be well aware about health care reform as it will have an effect on our health insurance.

The major reason is that youngsters will have to take out insurance. They will have to take out insurance which is expensive and not covered by Medicare or Medicaid. Hence, they will be required to pay an extra amount as premiums for the insurance. However, in case they are able to meet the income requirements, they will be eligible for subsidies.

This has become very important for youngsters since it will impact their future, as youngsters are not prepared to spend their hard earned money for the insurance when they have their own expenses to pay. It is a fact that most youngsters live beyond their means; they use the money which is hard earned for the education of their children, to meet the medical bills which they are unable to handle financially, for the treatment of the family members. So, this is another reason why youngsters should be educated about the health care reform.

Reforming Health Care will Increase Expenditures

The first aspect which is worrying is that the expenditures will increase if the healthcare reform is not implemented. Since it will require the insurance companies to cover a larger portion of the total health care expenditure, the insurance companies will have to make up the losses. This is how it is done – the insurance companies are losing money while paying for the premiums.

The current health care system is so messed up that the health care providers are charging more than the actual cost of the services provided.

The second aspect is that the government will increase its expenditures. If the insurance companies are forced to cover a larger portion of the total health care expenditure, then this will result in a large increase in government expenditures.

The third and most important thing which is going to be a major concern is the increased cost of prescription drugs. Since the insurance companies will have to provide a bigger portion of the total health care expenditure, the prescription drug prices will shoot up because the costs will be passed on to the insurance company. This will put a major dent in the pocket of young people.

Also read this Why are people buying Insurance?

Conclusion:

If you are a youngster, you must be well aware about the effects of health care reform. The main objective of health care reform is to help the government in increasing the revenues. Hence, it will be a good idea for the government to help youngsters and the low-income families in case of health care reform.