The Rising Cost of Health Care and its Impact on Employers
An analytical paper focusing on the impact of rising health care costs for employers and the various ways in which they have attempted to reduce expenses over the last several decades.
# 119664 | 2,330 words | 16 sources | MLA | 2010 |
Published on May 16, 2010 in Economics (Inflation) , Medical and Health (Pharmacy) , Business (Actuarial Science)
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This paper focuses on the ballooning cost of health care over the last several decades and its impact on employers who provide a plan for their employees. The rising cost and popularity of pharmaceuticals is cited as one of the primary causes for the growth in the health care industry and one of the leading reasons that health care has become such a financial burden on employers. The paper contends that employers need to have a long-term strategy in place in order to contain costs and provides several examples of innovative solutions that companies have used in the past in order to mitigate the high cost of providing a health care plan to their employees. Several graphs are used which provide statistical information about diverse points such as national health care expenditure and the rising cost of pharmaceuticals over the last few decades.
From the Paper:"Employers are not completely devoid of options in their attempts to manage rising health care costs. While the persistent up tick in overall health care expenditures over the last decade probably caught them off-guard, attempts to manage these costs through tiered plans, co-payments and mail-order pharmacies have yielded promising results. However, as these measures become widespread, and demand for prescription drugs slacken, pharmaceutical companies will fight back with measures to drive up demand."
Sample of Sources Used:
- Altruists International. "Wizards of Money Part 16: "There's a Generic in my Shark Fin Soup!"". 27 Sep. 2002. Altruists International. 8 Apr. 2006 <http://www.altruists.org/f299>.
- Bodenheimer, Thomas. "High and Rising Health Care Costs. Part 1: Seeking an Explanation." Annals of Internal Medicine 17 May 2005: 142. :847-54. EBSCOHost Academic Search. University of Nebraska - Lincoln. 8 Apr 2006 <http://iris.unl.edu>.
- --- "High and Rising Health Care Costs. Part 2: Technologic Innovation." Annals of Internal Medicine 7 Jun 2005: 142. :932-7. EBSCOHost Academic Search. University of Nebraska - Lincoln. 8 Apr 2006 <http://iris.unl.edu>.
- --- "High and Rising Health Care Costs. Part 3: The Role of Health Care Providers." Annals of Internal Medicine 21 Jun 2005: 142. :996-1002. EBSCOHost Academic Search. University of Nebraska - Lincoln. 8 Apr 2006 <http://iris.unl.edu>.
- Dietz, Elizabeth. "Trends in employer-provided prescription-drug coverage." Monthly Labor Review 127.8 (2004). 8 Apr 2006 <http://www.bls.gov/opub/mlr/2004/08/art5abs.htm>.
Cite this Analytical Essay:
The Rising Cost of Health Care and its Impact on Employers (2010, May 16) Retrieved June 19, 2013, from http://www.academon.com/analytical-essay/the-rising-cost-of-health-care-and-its-impact-on-employers-119664/
"The Rising Cost of Health Care and its Impact on Employers" 16 May 2010. Web. 19 June. 2013. <http://www.academon.com/analytical-essay/the-rising-cost-of-health-care-and-its-impact-on-employers-119664/>