As the debate surrounding healthcare in the US continues to divide and draw heavy scrutiny, it is important to analyze ethical issues that arise when discussing health insurance coverage in our country. From skyrocketing premiums and decreased accessibility for certain groups, ethical dilemmas are deeply ingrained within this system. If you read these Finance Tips, you’ll know that you need to get covered, but ethical considerations should be taken into account when doing so.
There are consequences of these moral issues — from inadequate coverage for many citizens to extremely high costs associated with receiving appropriate medical care. This blog post will take a closer look at some of the prominent ethical dilemmas that structure the current health insurance landscape in America as well as examine what actions government can take to combat them.
Sky-High Premiums
The rising cost of health insurance premiums is a major ethical dilemma in the US. While it can be argued that insurers should provide quality coverage at a reasonable price, many individuals and families are unable to pay premium costs due to financial constraints (especially those living in poverty).
In some cases, even those with employer-sponsored plans are paying too much for their coverage. To make matters worse, certain populations (such as those with pre-existing conditions) are often unable to get affordable coverage or may be denied coverage altogether due to their health histories.
Inadequate Coverage
Another ethical issue is the lack of adequate coverage for many individuals and families in the US. This has led to a situation where too many people are either underinsured or uninsured altogether, leaving them vulnerable when it comes to receiving medical care.
The lack of adequate coverage disproportionately affects low-income individuals as well as those with pre-existing conditions who may be denied coverage or forced to pay exorbitant premiums for health insurance. As a matter of fact, nearly 30 million Americans were uninsured as of 2018.
Lack of Transparency
The health insurance industry is often criticized for its lack of transparency when it comes to pricing and coverage details. Many insurers make it difficult or impossible for individuals to understand the terms of their plans, leading to confusion and frustration as well as potential financial risks for consumers.
Furthermore, many companies have been accused of engaging in deceptive marketing practices, such as advertising low premiums for plans with limited coverage. These make it difficult for individuals to make informed decisions about their coverage, leading to further ethical dilemmas.
What the Government Should Do
The government should take a proactive role in addressing ethical issues within health insurance. This can include increasing oversight on insurers to ensure transparency and fair pricing practices, creating regulations that limit premium hikes and protect those with pre-existing conditions, and developing initiatives that help individuals access coverage.
Additionally, the government should also provide incentives for people to purchase health insurance plans and make it easier for those with lower incomes to get coverage. By taking these steps, the government can help reduce some of the ethical dilemmas associated with healthcare in the US.
Ultimately, addressing ethical issues related to health insurance requires a collaborative effort between insurers, individuals, and the government. By taking a proactive role in improving access to quality coverage, all parties can work together to create a system that is both ethical and equitable.