Total health care spending is estimated to be $8,300 per person in the country for 2009, according to a report issued by the Congressional Budget Office (CBO) to the U.S. Senate this week. The spending is estimated to amount to 18% of the U.S. gross domestic product. The report also advised that there will be an estimated 45 million uninsured Americans this year.
The CBO report warned that if health insurance and health care policies don't change, the total health care expenditure will rise to 20% by 2017, with an estimated 54 million uninsured by the year 2019.
There is clearly a problem, and something needs to be done. The CBO suggests a possible way to reduce spending could include changing the current reimbursement system for doctors from the current fee-for-service system to a pay-for-performance system. Medical practitioners and health care facilities would receive bonuses for effective and efficient care, and conversely, providers who perform substandard work would see their payments cut.
As a possible solution to the problem of how to expand health insurance coverage, the CBO suggests taxing employer-based health insurance plans. This tax would provide an incentive to the consumer to go out and find a lower cost health insurance plan.
While the CBO report did offer solutions to a few health care reform problems, it did concede that any coverage expansion or health care cost reduction may not be apparent for at least another 10 years. Getting the plan implemented will not be a walk in the park, it stated.
The CBO report warned that if health insurance and health care policies don't change, the total health care expenditure will rise to 20% by 2017, with an estimated 54 million uninsured by the year 2019.
There is clearly a problem, and something needs to be done. The CBO suggests a possible way to reduce spending could include changing the current reimbursement system for doctors from the current fee-for-service system to a pay-for-performance system. Medical practitioners and health care facilities would receive bonuses for effective and efficient care, and conversely, providers who perform substandard work would see their payments cut.
As a possible solution to the problem of how to expand health insurance coverage, the CBO suggests taxing employer-based health insurance plans. This tax would provide an incentive to the consumer to go out and find a lower cost health insurance plan.
While the CBO report did offer solutions to a few health care reform problems, it did concede that any coverage expansion or health care cost reduction may not be apparent for at least another 10 years. Getting the plan implemented will not be a walk in the park, it stated.
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