Obamacare Good for the Economy Research Paper

Download this Research Paper in word format (.doc)

Note: Sample below may appear distorted but all corresponding word document files contain proper formatting

Excerpt from Research Paper:

Obamacare good for the economy?

The issue must be looked at from three points-of-view, One the development that goes on in the health care and how the policy ahs affected the health care industry and particularly various sections of the society, secondly the economic changes and developments that have come about in the medical care industry, and the burden and changes in the nations economy as a whole and whether all these changes are good, or have a favourable impact. It must be noted that health care is a very contentious subject that is often made the issue in elections and therefore have a political angle too.

Why must there be Obamacare?:

In the American system, there is no concept of social support in the economy that is largely controlled by the capitalist system. However social concerns have become paramount in the changing society. Fundamentally even doctors are divided on the issue of universal health care: Thus the question is if socialized medicine or a compassionate, necessary program? The basics behind supporting the program are that health insurance is expensive, and not everyone can afford it. And there are opinions that the Government must subsidize health care. Looking at the beneficial and the positive side it can be established that for the maintenance of health and removing disparity there is a need to subsidize care and insurance as proposed by the universal health policy. The truth is that social action is necessary for the maintenance of health, because according to the study conducted by the Institutes of Medicine shows that over eighteen thousand Americans die every year because they're uninsured. Thus systematic and charitable health coverage would mean that fewer people would die of dangerous disease from asthma to cancer. This would be beneficial to the minority communities and fewer veterans who depend on emergency rooms for their primary care. Thus the concept of the universal care can be welcomed as a better social measure. (Warner, 2001)

The reason is that there have been vast changes in the health industry. Earlier the government had hospitals and public services that would cater to the lower income group and these services are slowly vanishing giving place to corporate giants with a profit motive. Health care organizations were basically non-profit corporations, with the earlier government hospitals are usually non-profit and founded for the purpose of public service. Before entering the actual economic impact it is necessary to examine the health care system and its working and the desirability of insisting on social health.

Understanding the system:

The governance structure of which the law is concerned can prohibit certain structures in the health care industry for social reasons. The health care system comprises of a hierarchy in the pyramid structure with a chief executive at the helm and a board and subordinates. (Miller; Hutton, 2004) The Government hospitals are usually non-profit and founded for the purpose of public service. Hospitals under this structure are created by law, statutes that are passed by the concerned legislature to bring in the creation of the hospital. Such a law will automatically create the entire system including staffing, and the way the unit operates. Such a system is governed entirely by the statute and judicial reviews in case of disputes. The corporation is a legal entity that is made up of many investors who limit their liability to their investments. Incorporated companies have limited liability but can be profit oriented. (Miller; Hutton, 2004)

The corporation has the benefit of perpetuity because it goes on for ever irrespective of the death of shareholders. The corporation can also be set up as a non-profit organization that renders social service. The comparison between both the types shows that the non-profit corporation cannot distribute the earnings to the individuals but can distribute it to the same charity. Such hospitals are also called charity hospitals. In contrast the for-profit corporation is created with the intention of bringing about profits for the investors. The profit motive is the force behind the venture. For profit concerns can be private or public and this concern is essentially a commercial enterprise. Such enterprises are now proliferating. (Miller; Hutton, 2004)

The reason is not far to seek. Today the health industry is highly commercial and thus the economic theories that were suited to commercial organizations are now suited to medical realms too. Thus some of the tools and their importance can be seen in the following information. The face of the industry has changed and so has the requirements. These differences will bring about a change or the way the actual implementation of the policy is done in practice because there are many competitive advantages that health care units that are going to be declared as ACOs are going to take that may not be exactly as per the policy. The ACOs have also to become competitive and thus the competitive advantage can be had through many ways that is not envisaged in the policy including human resource practice initiatives. Priorities and practices are changing day by day. For example today's youth have less social awareness and there would be lesser males in the workplace and more women will occupy male dominated jobs in future and the competition is going to be high. (Blau, 2006)

This means that the policies for the new generation of prospective employees will usher in changing conditions the departments will still be the basic job of building and maintaining good relationships, processing complaints, and looking to continuous improvement. Companies have to reduce costs improve quality and along with this there is a need manage all employees in the organization with the nature of the business. Such service institutions are created by a statute. On the other hand incorporated companies have limited liability but have to be profit oriented. Its sole motive profits for the investors. While it is true that the investor owned systems will raise the rate of hospital care for the patients, the non-profit increase the cost of medical care in terms of operations but subsidize the patient cost. As legal entities the responsibilities and duties of both types in health care are similar. Though this anomaly exists the fact that medical services are meant to serve the public is not to be forgotten. Without such policies many minority groups, poor persons and especially the old and retired will have no access to medical facilities. (Peterson, 1999)

Going back we can see that some of the social programs that came about during the 1900s was cause by the depression of 1920 and 1930 and there stands out two concepts, one the social security and another housing of the poor. It was the widespread destitution and suffering the old aged people and other insecurities that threatened the security of the working man that it was felt that leaving the society to its own devices was not enough. While these are still issues, the major issue comes with the aging population of America. Social Security is based on 'Social insurance.' Social Security is the largest element in America's system of social insurance, and while there are insurance for life, fire, theft, liability, and so on, the pooling of risks of fortuitous-unexpected and unforeseen-losses and compensation for victims of a loss, especially loss of income due to the loss of life or of old age. (Peterson, 1999)

The needs of security vary with age and these types of occupation because the occupation tends to indicate the probability of employment at the older ages. One example given is of professional athletes, where the expectation of occupational life is relatively low, "as it is for men in other occupations that require full physical vigour, quick reaction, and other physical and psychological qualities normally blunted by increasing age." (Cavanaugh; Blanchard-Fields, 2010) Thus the working career and the employment opportunities for older persons are the basic considerations. Today therefore the rules have been changed to meet this need. The process is still evolving. These are the fundamentals of the health industry. The second stem of the argument is to see the issues in general social policy that may or may not affect the economy.

Other pertinent issues that necessitate such programs

Most of the social programs including the Obama care affect the poor and most of the elder adults. These include policies on medical issues, physical issues, pensions, and the well-being of aging persons. The development policies are generally shaped by four forces, primarily biological, psychological, socio cultural and the life cycle factors. These have always shaped the thinking of the society. (Cavanaugh; Blanchard-Fields, 2010) In this context taking on of these forces, the first example is the changes that were ushered in to the capitalism with the inclusion of some form of public service shows that any system has to be oriented to the welfare of the community and that these services are aimed at providing key services that must be available to all on an equitable basis. These changes make the free services with…[continue]

Cite This Research Paper:

"Obamacare Good For The Economy" (2013, April 06) Retrieved October 21, 2016, from http://www.paperdue.com/essay/obamacare-good-for-the-economy-88972

"Obamacare Good For The Economy" 06 April 2013. Web.21 October. 2016. <http://www.paperdue.com/essay/obamacare-good-for-the-economy-88972>

"Obamacare Good For The Economy", 06 April 2013, Accessed.21 October. 2016, http://www.paperdue.com/essay/obamacare-good-for-the-economy-88972

Other Documents Pertaining To This Topic

  • Obamacare While Both President Bill

    "Twenty-one State Attorneys General have filed suits to protect their citizens from being forced, in violation of the Constitution, to purchase government-approved health insurance" (Obamacare: Impact on States 4). Doctors are drastically being cut out of profit through Obamacare. As a result, "Nearly two-thirds of doctors are considering abandoning any kind of government-sponsored health care insurance, stating that regulations are too high and reimbursement too low" (Obamacare Facts 1). "Obamacare expands

  • Affordable Care Act of 2010 Brief History

    Affordable Care Act of 2010 Brief History of this Legislation -- How it Became Law When the Affordable Care Act (ACA) was signed into law by President Barack Obama in March, 2010, the legislative process was saturated with tension and heated rhetoric. After a bitter, chaotic period in which legislators attempted to hold "town hall" meetings to explain the benefits of the play -- and organized disruptions at those meetings set a

  • Affordable Care Act Is Being

    Critics of the ACA highlight several concerns, however, with the way that the law affects their businesses. For the 10,000 or so employers over 50 people who do not offer insurance, the cost per worker increases immediately. For companies just under 50 employees, this cost could even result in delayed expansion -- though arguably if their numbers are that tight they probably shouldn't expand anyway. That said, some surveys indicate

  • Affordable Care Act Over the

    To make matters worse the stagnant economy means that more people are requiring assistance. In most cases, different demographics of consumers are unable to afford health care coverage. This is because of the abusive practices that are used by the insurance industry to maximize their profit margins (i.e. The denial of preexisting conditions). To make matters worse insurance premiums are increasing exponentially in order to keep up with rising

  • Affordable Care Act ACA

    Affordable Care Act (ACA) On March 2010, the U.S. Congress passed the Patient Affordable Care Act (ACA), a portion of legislation intended to redesign the nation's healthcare framework and amplify health protection to a huge number of uninsured Americans. The law incorporates various provisions that endeavor to achieve this objective. It creates access to healthcare insurance coverage through shifting premiums to be based on an individual's health condition and barring persons

  • Affordable Care Act

    Affordable Healthcare Act (ObamaCare) The main objective of the federal government is to offer an affordable healthcare services and products to the citizens. Health is one of the development indicators in relation to the condition of the economy. In the process of enhancing the healthcare services within the United States, the government and the congress sought to adopt and implement an effective healthcare plan towards the achievement of the societal goals.

  • Affordable Care Act the Affordable

    The Affordable Care Act means that health coverage will be required for almost every American and will be partially subsidized. However, it will not change the employer-centric, private-insurer-based system of financing and coverage. Demand for care will increase significantly and rapidly, but the underlying issues that created the need for a safety net in the first place will not be solved in the near future. Feldstein (2005) argues that if

Read Full Research Paper
Copyright 2016 . All Rights Reserved