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Health policy

Health Care Policy: Will Obamacare cut costs? Currently America spends about 17% of its GDP on health care, way more as compared to 9% of GDP back in 1980. The rising health care costs have put a damper to the growth of the American economy along with providing little chance to increase salaries of employees as bulk of the incremental cash flow goes towards servicing additional health costs. The Obamacare has greatly helped to curb the health related costs as America currently witnesses its lowest growth in health care spending compared to 2009. Obamacare has done thing by two things; by making sure all Americans hold a health insurance, failing which they have to pay a fine, and secondly various measures have been taken to cut down health related costs. These methods include providing health care institutions rewards for cutting down costs while penalizing them for bad care. The results have been phenomenal so far as according to data taken from Jan 2012 to Dec 2013, there has been a significant 8% decline in readmission cases (The Economist).
Obamacare is likely to free the health budget that currently makes up a very high percentage of the GDP, thus allowing the American government to spend the money in other feasible projects. I completely agree with the views presented it the article, as well as with the view with which Obamacare was introduced as I believe prior to this bill there was a lot of negligence and over charging done by doctors for their own benefit. However, this bill would put an end to such illegal practices and help save millions of dollars of US tax payers which can be routed to other important projects (The Economist).
Works Cited
The Economist,. Will Obamacare Cut Costs?. N. p., 2015. Web. 6 Apr. 2015.

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