In this global economic market system, there is concern that health care costs and spending in United States will exceed that of other competing industrialized nations. A close examination of health care cost and spending in the United States reveals that much of the increase in gross domestic product (GDP) is a result of the cost of health care.
In a paper of 4 pages, not including title page, abstract page and reference page, complete the following:
How does health care spending in the United States impact the country’s economy?
Summarize the impact of health care spending in the United States on the economy.
Provide a critical analysis of this impact that is supported by relevant cited sources.
Recommend a strategy based on your analysis.
Ensure that you integrate economic terms, frameworks, and models throughout the review.
Be sure to consider individual households, employers, local economies, and state and federal governments.
Be sure to follow APA style page formatting, and provide at least 4 peer-reviewed references from health care journals published in the past 5 years.
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Health care spending is one of the important components of a country’s economy. Health spending help to meet fundamental social and individual needs, which lead to improved productivity, good health, and longer lives. In most industrialized economies, with the exception of the U.S, affordability of health care is ensured through tax financed systems or universal insurance (Squires, 2012). In the United States, public funds contribute to healthcare through insurance programs such as Medicaid and Medicare, in addition to tax policy like the Veterans. Proper health care ensures an illness…
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