Purpose: Comment on the Discussion
Thing to Remember:
- Answer this discussion with opinions/ideas creatively and clearly. Supports post using several outside, peer-reviewed sources.
- 1 References, find resources that are 5 years or less
- No errors with APA format 6 Edition
To Comment:
Topic 1: Third-party Payment
Third party payment is distorting the market for health care due to how it has contributed to the increased level of spending in healthcare. The insurance companies that do the third party payments lack transparency. It is impossible for consumers to trace the real price of the medical services (Boyer, & Hammersla, 2012). Therefore, they have taken the advantage of rising prices and yet the quality of the services given is very poor. If there was transparency, then there would be healthy competition by the suppliers of medical services and this would lower the cost. This would also create a free market in the healthcare sector.
These countries insist on the third party intermediaries because they consider them as schemes for the poor. Due to the rising health care costs, they have argued that people would be in a position of acquiring health services through the low deductible premium policies and copayments (Danzon, et al., 2013). Further still, these third parties enable them to acquire great dividends due to the goodwill generated from them. The amount taxed from them enables these countries to advance to new medical technologies and drugs. However, the high-value technology doesn’t match up with the services given which are instead dwindling every single day.
Separate payment program for the elder citizens is carved out to enable them to acquire benefits that are convenient and ease the financial burden of healthcare (Abaluck, & Gruber, 2014). Also, they give minimum deductible rates for those that are earning. Those with no source of income are also considered since the government chips in. Elder citizens are at a high chance of getting health issues that are factored by age. The benefits they get cover acute diseases and prescription drugs. It also provides them with hospital insurance, skilled nursing care, and home care services especially for those with long-term ailments.
References
Boyer, D. F., & Hammersla III, W. E. (2012). U.S. Patent No. 6,208,973. Washington, DC: U.S. Patent and Trademark Office.
Danzon, P. M., Towse, A., & Mulcahy, A. W. (2013). Setting cost-effectiveness thresholds as a means to achieve appropriate drug prices in rich and poor countries. Health Affairs, 30(8), 1529-1538.
Abaluck, J., & Gruber, J. (2014). Choice inconsistencies among the elderly: evidence from plan choice in the Medicare Part D program. The American economic review, 101(4), 1180- 1210.