Healthcare Responsibility: A Financial Perspective

Is healthcare a right or a privilege? While on its surface an issue of ethics, a practical view of this question begs an analysis of its financial implications. With the cost of healthcare to consumers increasing and fewer companies willing to pay for these increases (ôWorkers pay more...,ö 2002), the corollary question arises: Who should bear the primary responsibility of paying for healthcare, the individual or society? Many nations provide universal healthcare and others, such as Canada, that previously did not provide it, are moving in that direction (ôThe Romanow Report...,ö 2002). The answer to the question of who should pay for healthcare must take into account both the quality of life for individuals and the financial ramifications for society. When analyzing the various factors that play into healthcare costs, our most effective option may be a universal healthcare system that integrates strong incentives for personal responsibility.

In examining whether the individual or society should pay for healthcare, one must consider both the well-being of the individual and the fiscal welfare of society. These elements do not stand separate, but rather are intertwined. A society is composed of individuals; the health and well-being of a society is the summation of the health and well-being of all individuals in that society. The better individuals feel, the better they can function and contribute to a society's stability an

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individuals to make cost-conscious choices when choosing healthcare services and in pursuing preventative care and lifestyle choices. When a government takes on the burden of paying individuals' healthcare costs, it must fund this expense using taxpayer dollars. This cost to taxpayers then leaves individuals with less money to spend on consumer goods, which can slow the growth of an economy. In the United States, where capitalism and consumer spending drive economic progress, a greater tax burden could present major challenges to economic growth and thus to the well-being of society. The second factor to consider is the effect that a subsidized healthcare program could have on individuals' motivation to choose cost-effective care and take an active role in preventing their need for such care. When a flat rate is charged for services, such as is the case with many current healthcare plans in the United States, there is little incentive to choose doctors who provide affordable services. For example, when a plan requires individuals to pay a $20 co-payment for an office visit, people can visit any doctor covered by the plan, regardless of that doctor's rate, and still pay the same amount (ôWorkers pay more...,ö 2002). This reduces a
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Approximate Pages = 5 (250 words per page)

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