America is one of the most expensive countries in the world and the cost of healthcare isn’t practical for those who really need it. According to KFF, 64% of uninsured nonelderly adults said that they were uninsured because the cost of coverage was too high.
One of the causes that affects insurance cost is most of the healthcare facilities are profit-driven healthcare centers, which leads the U.S. to only be ranked at 11th place in the World Index Healthcare Innovation compared to Singapore who ranked first place.
Even those who have insurance have to pay a big hospital bill after going to the doctors, because of the high costs even with insurance. According to Jamanetwork, national expenditures on healthcare goods and services were approximately $4 trillion in 2020, accounting for an estimated 18% of gross domestic product.
Many healthcare facilities including dentists and other health centers, are having problems accepting most insurance companies because of costs being too high to cover those and many people can’t get the care that they need.
According to CBO, if America had free healthcare, households’ health insurance premiums would be eliminated, and their out-of-pocket healthcare cost would decline. Administrative expenses in the healthcare sector would decline, freeing up productive resources for other sectors and ultimately increasing economy wide productivity.
There are many ways America can fix this problem with healthcare like expanding community health centers and investing in mobile clinics as well as extending insurance to cover healthcare costs. Fixing the many problems bringing healthcare down in America could not only help people but make America safer and healthier.