micro economics project policies part
yamackocovali
HealthcareInequality.pptxHealthcare Inequality in the United States
Why is this worthy of investigation?
Many americans are having to live without healthcare
Too many people are reporting bad health care situations
Healthcare inequality is having bad impacts on the economy
Supporting Information
Before the Affordable Care Act, almost 25% of Americans had little or no health insurance, over 101,000 of them died each year because they couldn't afford the high cost of health care.
Only 12% of households making more than $47,700 a year reported being in poor to fair health.
People are losing savings, homes, and incurred credit card debt.
High medical costs are causing half of all bankruptcies
Part 1 continued
Did you know, U.S. health care inequality was the third worst among 32 rich and middle-income countries?
Supply and Demand analysis
This graph compares healthcare demand and supply in the US to healthcare in Europe.
The demand for healthcare in the US is much higher than the demand in Europe which causes the equilibrium price to be higher for the US.
The supply for healthcare in the US is much lower than the supply in Europe which causes the equilibrium price to be higher than it is in Europe.
Other data supports
The graph points out that 37% of households that make an income of under $50,000 a year have a difficult time paying medical bills.
Wealthier families have a much easier time paying medical bills with only 14% of households who earn over $100,000 a year reporting troubles paying medical bills.
People with insurance still have a hard time paying medical bills with 20% saying that their insurance doesn't cover enough of the payments to make it easier on them.
This graph shows that the poorest people in the US are spending just as much on healthcare as the richest people in the US.
Between 1974 to 2003 the poorest people were paying the most for healthcare over the richest people and the middle class.
In 1998 the richest people were paying the least for healthcare and that lasted for two years.
S and D continued
Microeconomic theory analysis
Policy recommendations
Part IV continued
