Week 8: Health Policy and the Affordable Care Act Overview

Health Spending

Distribution of healthcare funding sources in U.S.

National Government

Contributes 28% to U.S. health spending.

State and Local Governments

Account for 17% of health spending.

Private Employers

Provide 20% of healthcare funding.

Households

Contribute 28% to healthcare expenses.

Marble-Cake Federalism

Interconnected roles of different government levels.

Medicaid

Government program providing healthcare to low-income individuals.

Healthcare Administration

Management of healthcare systems and services.

Problems with U.S. Healthcare

System inadequacies and political solution challenges.

Affordable Care Act

Health reform law enacted in March 2010.

Supreme Court Ruling

Upheld ACA in 2012, confirming its legality.

Political Struggle

Intense debates among politicians and interest groups.

Social Construction

Distribution of concentrated costs and benefits.

Uninsured Rate

Efforts to reduce the percentage of uninsured individuals.

Preexisting Conditions

Conditions that insurance companies cannot deny coverage for.

Individual Mandate

Requirement for individuals to obtain health insurance.

Marketplace Exchanges

Platforms for insurance companies to offer plans.

Government Subsidies

Financial assistance for low-income individuals to afford insurance.

Market Failures

Inefficiencies in free markets affecting consumer benefits.

Invisible Hand

Adam Smith's theory on self-regulating markets.

Information Asymmetry

Lack of cost and provider information for consumers.