In the world we live in today with all of the new medical procedures, treatments and medicines, people are starting to live longer, but with longer life expectancies the cost of health insurance continues to increase. Even the cost of social security continues to rise with longer life expectancies. With these longer life expectancies, there are two major systems of healthcare-universal health care and privatized health care. If Private health care becomes the only type of health care then the quality of health care will decrease, whereas if universal healthcare was the main method then the quality of healthcare would increase.
Universal health care refers to a governmental system which provides health care and financial protection to all its citizens. It is built around providing a specific package of benefits to members of society. Its overall goal being to provide financial risk protection, improved access to health services and improved health outcomes. Although the concept of universal health care doesn’t cover every single person and coverage doesn’t include all benefits within a package; universal health care sticks to some important basics like who is covered, what services are covered, and how much cost is covered. There are many countries with universal health care such as the UK, Italy, Australia and Spain. So why doesn’t the U.S., among one of the wealthiest nation, have it? Even Afghanistan and Iraq have universal health coverage provided by United States war funding.
Private health care unlike universal healthcare isn’t funded by the government. Instead private health care is funded by private investors. Private health care is mostly motivated by profit, but this is helpful in productivity and advancement of medicine. It isn’t limited because its funds are supplied by investors who are interested in the research they are funding. Prices for things such as insurances, medicines, and medical procedures are lowered because there are multiple investors. This makes the market competitive, and gives more choices based on the needs of individuals.
If private health care was the only form of health care the majority group that would benefit would be upper class, leaving the middle and lower classes with little or no choice in having to pay exorbitant amounts. Private health care doesn’t cover all conditions; it comes down to previous medical conditions (this problem is currently being addressed by the Obama administration) and depends on what policy the individual has. Picking a policy isn’t easy; there are so many different companies that offer private insurance to pick from. They all offer a variety of deals at different prices. Most policies only cover short term injuries and illnesses, what happens if you suddenly get sick and you’re not covered by that specific illness. Sherri Bockhorst said “An employer-provided plan may provide an employee with two or three different plan designs, none of which may meet the needs of the individual,”(1.)
Private health care agencies obtain their revenue through fees of treatments and commissions. So basically those with more money tend to get better treatment. It basically comes down to you get what you pay for. If you have the money to pay for a high premium, you will get tons of coverage and benefits. Those who earn low income struggle to afford private healthcare, sometimes they just don’t have it altogether. Most private insurances set a maximum amount they are willing to cover for a total amount. Medical expenses are one of top 3 reasons for an individual files for bankruptcy, the others being loss of spouse and job. How much an individual is willing to pay affects the quality of things such as how good the medicine they receive is and how qualified their doctor is. Waiting lists are still a problem within public care, if someone needs to see a consultant who has a good reputation in a particular area that