Awaiting Health Laws Prognosis Article Example | Topics and Well Written Essays - 500 words

Awaiting Health Laws Prognosis - Article ExampleThe majority of the population was non affected by these limits because even though healthcare is getting more expensive everyday it is laughable for a human to need over a million dollars in medical exam treatments over their lifetime. notwithstanding this premise there are certain catastrophic illnesses such as cancer and hemophilia whose medical treatment cost are astronomical. For instance in 2010 Alex All clotting medicine treatment costs $800,000 to treat his hemophilia condition.The new legislation has eliminated the lifetime limit coverage heath plans were imposing on subscribers. This new governmental policy allow for help thousands of patients who have serious illnesses that require expensive treatments. It will provide them the opportunity to get the health treatment they need without the worry that the plan will burn them off after a certain cap threshold. The quality of life of these patients will greatly amend as re sult of the new policy. The implication of the policy does have economic consequences for the healthcare market as a whole. Some of these catastrophic illnesses have costs that are so high that they could have a severe impact in the medical cost inflation rate in the United States. create for example Alexs condition. He is only 22 days old. If he lives to be 80 years of age the total cost of his treatment over the next 58 years will be $54.4 million assuming the treatment costs stays constant. This assumption is not realistic due to the fact the US medical costs inflation rate is 3.6% which implies the medical the accumulative medical expenses are belike to exceed $100 million over the patients lifetime (Forecast-chart, 2011).The lifetime medical caps prior to the policy transmit were a cost control mechanism that was very effective. The market efficiency is disrupted by the execution of the policy. The new rules of the game are going to have an inflationary effect in the long consideration as these catastrophic patients are