Importance of Healthcare in the United States

Importance of Healthcare in the United States

Tiffani O'Bryant

Axia College of University of Phoenix

Importance of Healthcare in the United States

More and more everyday, Americans are struggling with affording health insurance. Some believe that it is a waste of money. I was speaking with a woman today about the outrageous costs of medical bills that people have today. She is a stay-at-home mother, and her husband is a self-employed computer technologist. The insurance company that the couple has is an exceptional company, but with an exceptional price to pay. They not only have to pay a $500 premium each month, plus a co-pay of $40, but the couple usually will still get a bill in the mail for what the insurance company did not pay for. That is ridiculous to have to pay that much money. The woman insists that it would be better to put the money aside each month for "just in case" emergencies. In all the confusion health care is very important to have. Health care can help lower the cost of insurance, medical expenses, and possibly help Americans live longer.

As I was talking to the woman, I was telling her about an awesome type of savings account that is for medical purposes, called HSA (Health Savings Account.) HSA will help provide long-term saving for families. HSA is not a cheap process to start but it does save tons of money over time. This HSA is also tax deductible and grows tax free. Anderson has come up with an eye catching analysis. "Say your 55 and put the maximum $6,450 ($5,650 plus $800 in catch-up contributions) into a HSA for ten years, until you are eligible for medicare. If you did not use any of the money to pay medical bills during the decade, you account would hold more than $75,000, assuming a modest 3% annual return on your investments. Most HSA providers require the account at least be $1,000 before accessing investment options." Any withdraws from the HSA is tax free as long as the withdraw is for medical expenses. After an individual turns 65, there is no longer money allowed to be put into the HSA, since they qualify for medicare at that time. The money that goes in the HSA does not have to be used for medical bills, but it you do get charged a 10% penalty.

"Medicaid is a form of insurance that is helpful for low income Americans. This is allowed for certain families: low-income families with children; aged, blind, or disabled people on supplemental security Income; certain low-income pregnant women and children; and people who have very high medical bills." States are allowed flexibility to come up with a better plan to provide Medicaid coverage. "However, states have to cover these certain basis: inpatient and outpatient hospital services, laboratory and X-ray services, skilled nursing and home health

services, doctors' services, family planning, and periodic health checkups, diagnosis,

and treatment for children." According to the U.S. Census Bureau, Statistical Abstract of the United States: 2000.

This past year every time I turn on the television, I have noticed a segment on healthcare in the workplace. Employers are getting more involved in the employee's health, in order to lower premium costs. Some companies have set up gyms for employees to be able to workout. This would help keep down obesity. Also, they require stretch time, which is scheduled breaks. Companies are having dieticians on staff to help with cafÐ"© menu items, and also have a farmer's market for fresh fruits and vegetables. Dieticians are also there to help employees with an assessment on nutrition and individual health programs. "Wellmark Blue Cross Blue Shield has taken a incentive approach to many of its wellness programs, such as Pathways to Wellness, through which employees can earn up to $300 in flexible spending that can be applied to their 401(k) or medical spending accounts," says Morain. "Participants earn points by practicing healthy behavior, such as, preventive exams and stress management.

Wal-Mart is taking a stand on prescription cost in America. This top leading corporation is offering over 300 generic brand medications for $4. This is at a months supply. Most generic brands run from $10 to $30 for just a