Health Insurance Expansion Health care market failures, such as adverse selection, can be addressed...

Question

Health Insurance Expansion

Health care market failures, such as adverse selection, can be addressed through government policy and regulation. By limiting barriers and providing access to health care through policy such as the health insurance expansion under the Affordable Care Act, policy makers can address failures and ensure adequate insurance coverage for healthy, unhealthy, and at-risk populations. For this Assignment, you examine the health insurance expansion policy and evaluate economic implications.

The Assignment:

In a 4 page paper, address the following:

Analyze the rationale for health insurance expansion. Include how health insurance expansion relates to the problem of adverse selection.

Evaluate economic implications of health insurance expansion in the United States. Include, specifically, how health insurance expansions might impact health care organizations in your own state or region.

References

Getzen, T XXXXXXXXXXHealth economics for the healthcare administrator (Laureate custom edition). New York: Wiley.

Glied, S., & Miller, E. A XXXXXXXXXXEconomics and health reform: Academic research and public policy. Medical Care Research and Review, 1-16.

Healthcare Financial Management Association XXXXXXXXXXPrice transparency in health care: Highlights from the task force report. Westchester, IL: Author. Retrieved from http://www.hfma.org/WorkArea/DownloadAsset.aspx?id=22279

Sunabh · Accepted Answer

Running Head: HEALTHCARE								1
HEALTHCARE 										2
HEALTHCARE
Table of Contents
Introduction	3
Analysis of the Rationale for Health Insurance Expansion	3
How Health Insurance Expansion Relates To the Problem of Adverse Selection	4
Evaluation of Economic Implications of Health Insurance Expansion in US	4
Impact of Health Insurance Expansion on Health Care Organizations	5
Conclusion	6
References	7
Introduction
Market failure refers to the process where market fails to allocate resources efficiently such as, there could be excess waste in production or less consumption. It would be essential to understand that healthcare is considered as a heterogeneous product where the patients can receive or experience a range of outcomes. Therefore, this can considered as one of the major rationales behind an imperfect market in U.S.
This paper will analyze the rationale behind health insurance expansion along with how expansion is related to adverse selection. Further, efforts will be made to present evaluation of economic implications concerning health insurance within U.S along with impact of expansion on health care organizations. 
Analysis of the Rationale for Health Insurance Expansion
It would be essential to consider that the market size of health and medical insurance industry in U.S is $1.2 trillion until 2021. Further, it is expected to increase by 2.6% in 2021. Stecker et al. (2017) mentioned that the concept of health insurance expansion was designed to address high uninsured rates among low-income adults; thus, providing a coverage option for population with limited access to employer coverage along with individuals with limited income to purchase the coverage on their own behalf.
Private health insurance is still the predominant source of health insurance coverage in United States. However, under Affordable Care Act, the Medicaid coverage expansion led to coverage for most of low-income adults to 138% of the FPL (Federal Poverty Level). As a result, ACA coverage expansion led to generation of more demand as well as more revenue for many providers, which could further increase their capacity to serve more patients. Likewise, it would be essential to consider that ACA was successful concerning the expansion of health insurance to individuals, which were previously uncovered through Medicaid expansion and insurance exchanges.

Health Insurance Expansion Health care market failures, such as adverse selection, can be addressed through government policy and regulation. By limiting barriers and providing access to health care...

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