Healthcare Economics Essay Example | Topics and Well Written Essays - 1500 words

Healthcare Economics - Essay Example According to the Boston healthcare plans, adults are supposed to gain health coverage and employees too must have this nature of coverage. Similarly, the reform witnessed the merging of the individual health insurance markets and small groups of other related healthcare providers. Through this move, the number of uninsured persons dropped significantly from 8.2 % to 2.7% by the year 2009. It is also worth noting that the recession that occurred did not have a great influence on the healthcare reforms that were passed in the year 2006. According to the reforms, the law required every Massachusetts resident to have a state regulated healthcare insurance protection. Also, the reform bill recommended provision of free insurance healthcare for citizens that earned less than 150% of the state federal poverty level. The people that did not take the state healthcare insurance cover took Medicaid which also played a similar role in insurance. This move largely affected the market and changed several trends in the insurance market. Through the amendment, there was development of independent public authority that was formed to foresee the activities of the healthcare insurance, the connector (Minkler 19). ... Most of the key players in the healthcare industries suffered diminish of their businesses and as a result, they opposed the bill. The state healthcare bill had several effects on a number of people who were operating in the market. Several parts of the reformed insurance plan were changed with the political transformations that took place. For instance, the Romney’s care legislation had tax penalties that were given to residents who did not obtain the insurance plan. Such penalties were also levied on employers that did not offer insurance plan to them especially, those that had more than 10 employees. In 2013 however, the state legislature repealed the legislation and anticipated for a same but a more flexible mandate in PPACA. Similarly, the Obama administration waived off the PPACA mandates as the national employer. The individual penalties that were initially instituted by state were replaced with the provisions of the PPACA. The shape of the health insurance market has g reatly changed in Boston with a number of key players dominating the market. After the entry of the government into the insurance plans, many insurance firms had to change their approaches to delivery of customer services. Thus, they offer more lucrative benefits within their covers to ensure adequate competition in the market. From the above, it is evident that various key market players are currently competing for the insurance tasks of the community. Most of these wage conflicts against the government that is implementing policies that would benefit the citizens but silently hurt the various market players. The major insurers in the Boston market include the Medicaid, Medicare and the state owned PPACA. All these are major players that are currently competing for the insurance needs in