From a social welfare standpoint, how would society view this fundamental change in the health insurance market?

May 6, 2019 Off All,


Public Finance Healthcare Paper

The passage of the Affordable Care Act by the Obama administration has been (and will continue to be) one of the most debated and polarizing issues we as a nation face. This piece of legislation is a first step towards reforming and changing the market for healthcare in the United States while also opening the door for the government to play a larger role in the healthcare market. In fact some experts are asserting that the administration should push for universal healthcare provided through a single-payer system, or as Bernie Sanders has suggested a “Medicare for All System”. For the purposes of this paper assume that the U.S. Government has decided to implement a “Medicare for All System”. Under this healthcare regime there would be no private insurance market and the government would provide insurance for all of its citizens. Healthcare would still be delivered by the private sector. This “Medicare for All System” will be financed through an increase in the FICA tax imposed on labor earnings for all workers in the United States. Please write a paper that analyzes the following issues related to healthcare in the U.S. 1) Would a “Medicare for All System” help to slow the rate of growth of healthcare spending in the United States? 2) What are some of the social efficiency costs associated with this particular plan? 3) From a social welfare standpoint, how would society view this fundamental change in the health insurance market? 4) Based on your analysis of the “Medicare for All System” conclude whether you are for or against moving towards this type of system. Make sure to construct your arguments and discussions around the major economic issues and potential outcomes related to the aforementioned issues. A well written and successful paper will have properly identified and analyzed the key economic ideas related to the above issues. Be sure to have a clear persuasive statement, based on your economic analysis, as to whether the U.S. government (and society for that matter) should or should not move toward a “Medicare for All System”. Look outside of the United States for international evidence to help make your points. Consider how different segments of the population would be impacted by this proposed change. Remember, this is an economics class, so keep your analysis and opinions focused on the economics of the argument.

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