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Monday, June 1, 2009  

Health Care Providers Promise Affordable Health Insurance

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In an effort to maintain some semblence of control over the insurance market, health care providers have promised to provide consumers with affordable health insurance by cutting up to $1.7 trillion in costs.

This would be accomplished by improving care for chronic illness, reducing unnecesary care and costs, and streamlining the adminstrative process.

This bid - and the focus on affordable health insurance for the masses - reveals how promises made to President Barack Obama have the potential to reduce the growth rate of health care by 1.5% over the next 10 years.

These savings, and their potential to support more affordable health insurance, are discussed at the Wall Street Journal. Savings for chronic care management could be "between $350 billion and $850 billion; administrative streamlining would save $500 billion to $700 billion; and improving the "utilization" of care would save $150 billion to $180 billion."

Some critics suggest that the savings won't add up to the necessary $2 trillion needed for the ambitious plan, but even minimal savings could make things easier for consumers struggling to find coverage in today's market.

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