Many of the discussions we have had this quarter relate to the relationship between the public and...

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Many of the discussions we have had this quarter relate to the relationship between the public and private sectors in providing insurance, regulating and working to ensure social outcomes. The ACA, and the debate regarding whether to keep, reform or replace it, have further focused our attention on the role the government in acting as direct insurer, requiring that individuals purchase insurance, subsidize insurance or restrict the behavior of private insurers.

Building on our conversations this year, as well as your understanding of economics choose either one of the two prompts and in 500 words or less, respond:

1) Public sector involvement is critical to the provision of health insurance, as provider of first or last resort and regulator. The absence of a fully functioning public sector will result in a market collapse.

2) The public sector’s role can be limited to regulating the market, much like banking. While the market may look differently than it does today, the market does not require that the public sector play that great a role.

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Anju Lata · Accepted Answer

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The Implications of public sector in healthcare for the US economy
The public health funding programs in US have failed to provide health insurance coverage to all the citizens which have largely attracted the private players (Mitchelle,11-12). Public Healthcare facilities are not available to everyone and the system lacks any measures to control the costs of healthcare expenditures. The cost of health insurance is highin US than the economic growth.It also lacks universal coverage. 
In such conditions development of a single payer public health care system may help by introducing an option of Public Health Insurance. In such system the government solely pays for the universal health insurance in form of taxes (Dorning, 2-5). Adding a public alternative to the market will force the private insurance providers to enhance the quality of their services to maintain the existing customers. It will increase the number of people benefiting from the health services instead of just those who directly use the public health facilities. It will lower down the costs of the insurance as the government can regulate and negotiate the cost of healthcare services and medicines. It will also prevent the bureaucracy of private health insurance in the market.

Many of the discussions we have had this quarter relate to the relationship between the public and private sectors in providing insurance, regulating and working to ensure social outcomes. The ACA,...

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