Health INS Healthcare Econ During the Ten-Year Essay

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Health INS

Healthcare Econ

During the ten-year period ending with 2009, the administrative costs and the profits of health insurance companies rose slower than other healthcare costs and came to represent an ever-shrinking proportion of healthcare premiums. Much of the increase in administrative costs can be ascribed to inflation, especially during the years prior to the recent recession, and ongoing expansions of healthcare coverage and legislation during the period also required some increases. The cost of care and the amount of care provided increased substantially during this period, however, and it is the increased demand that this placed on health insurance administrative efforts that accounts for the increases in these costs. In other words, health insurance has actually become more efficient and less costly in administrating care during this period, able to continue providing necessary administrative services for rapidly expanding healthcare needs with a relatively modest expansion of administrative needs.

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Health insurance companies are doing more with less, and this is why the percentage of each healthcare dollar spent that ends up goes towards health insurance administrative costs and profits has diminished year after year during this period.

2.

Should data show an increase in the percentage of healthcare dollars going towards administrative costs and possibly profits in the years following 2009, in a reversal of the trend of a decreasing proportion of each dollar going towards these areas, much if not all of the change could almost certainly be ascribed to the major overhaul of healthcare legislation that took place in 2010 with the signing of the Affordable Care Act. Though not all of the changes written into the Act have gone into effect, those that have already created new mandates and preparation for those that are to come would necessarily create an increase in….....

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