Lawmakers Discuss a Balance between Individual Health Insurance, Quality of Care, and Health Care CostsJune 2008
This week lawmakers and officials met again to discuss medical insurance in America, and to explore various ideas regarding a major overhaul of our health care system.
Topics included different ways to offer more coverage to all Americans, how to make
individual health insurance more affordable and easier to get, and the future of "entitlement programs" like Medicare and Social Security.
U.S. Federal Reserve Board Chair Ben Bernanke addressed the need to focus on three main aspects of our medical insurance system: access, quality, and cost. He noted that right now health care spending in America comprises more than 15% of the economy, and is the single largest component of personal consumption, even larger than spending on housing or food.
But how will these observations work to bring down individual health insurance costs, or to make it feasible for employers to offer better
medical insurance to their employees? Can politicians set aside their differences in the name of better health care?
Based on the results of the "Health Reform Summit" held at the Library of Congress and sponsored by the Senate Finance Committee, both Republicans and Democrats can agree that there's a problem with our health care system, and that all Americans need access to insurance that will protect their health without creating an undue financial burden.
However, how to go about such a huge endeavor is where they divide. Some Democrats support universal health care, while others a more modest approach. Many Republicans support changes in the insurance market in general, which would theoretically bring down costs for individual health insurance based on a more competitive environment.
Facts on:
Medical Insurance in Politics
Did you know...
The United States spends more of its income on health care than on food or housing?
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But no one knows what will or won't work until something can be agreed upon and put into action.
Until then, Americans will be stuck searching for their own access, hoping for quality they can rely on at costs that are often more than they want to pay.
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