Government Regulations on Healthcare

Source: Tooth Wisdom

The economic principle I’m exploring is: “Institutions are the "rules of the game" that influence choices"

 My research question to help me study the economic principle is: "What are the current government regulations on healthcare companies?"

 The article "8 Important Government Regulations in United States Healthcare"  published by Regis College demonstrates this economic principle by showing the many different regulations that have gone into our healthcare system all the way from 1945-2010. It shows the many ways in which healthcare has changed in the U.S. and how the system has grown.

 First, programs such as medicare have changed the way our healthcare has operated for decades. Medicare provides insurance coverage for nearly 50 million Americans, including coverage for senior citizens. Medicare is important because it provides healthcare to people with low-incomes, the disabled, and elderly, who may not have full access to it otherwise.

Secondly, another vital part of the U.S. Healthcare system is Medicaid. Medicaid originally just insured those who were low income, but now it extends to "various recipients, such as uninsured expectant mothers, temporarily unemployed workers and disabled individuals". Medicaid is the nation's primary source of health insurance for low-income earners. 

 Thirdly, one of the more controversial and recent additions to healthcare in the U.S. is the Affordable Care Act, or the ACA. This is an Obama-era policy which requires "most U.S. citizens to apply for health insurance coverage, levying a penalty for individuals who fail to secure insurance but making exceptions for a few protected groups". It also "offers health care professionals the opportunity to participate in shaping the delivery of patient services. The medical field can benefit from input that helps deliver better services to the growing patient population while reducing care expenses". All of these different policies help shape the United States Healthcare system, and understanding these policies can help determine better policies for the future.

 In my next blog post I will research the question: How does U.S. Healthcare differ from other countries?