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Mendoza describes ex Ante and Post Moral Hazard in his work titled “Information Asymmetries and Risk Management in Healthcare Markets: The US Affordable Care Act in Retrospect. Ex ante is Latin for “before the event” (CFI, 2021). Essentially, ex-ante is the ability to predict an event before it happens. Ex post is the Latin word for “after the event” and in this case represents results from a given project or investment. Mendoza provides an in-depth explanation of the initiative for the universalization of private health insurance. This should be taken into consideration because of the other countries that adopted the model. Previous
American presidents considered universalization after 1965 but realized that budgetary and financial stress could be on the horizon. One example of an ex-ante as a moral hazard would be if all citizens obtained free health care and were live carelessly regarding their health. If every person in the world would no longer have a reason to continue to stay healthy, they would take full advantage of the healthcare system.
Explain whether you agree or disagree with the author that the ACA was an answer to healthcare accessibility
I do agree with Mendoza’s stance on the Affordable Care Act because of the number of people that now have access to health care. If the Affordable Care Act would ever repealed, up to 20 million people would lose coverage (Rapfogel et al., 2020). There are many examples of the ACA being utilized by the public in ways they were previously not. The Affordable Care Act has a guaranteed issue which means that insurance companies cannot turn away individuals who have pre-existing conditions. The Affordable Care Act has also lowered the costs for senior citizens that are receiving Medicare making it more accessible to that demographic. In total, 20 billion dollars have been saved on prescription drugs (Repfogel et al., 2020). Without the Affordable Care Act, senior citizens would pay out of pocket for their prescription medications. Senior citizens, in my opinion, should be fairly treated as well as well cared for and should never struggle to obtain the medications they need to survive. These are just two ways that the Affordable Care Act has helped the public gain access to its benefits.
Explain whether you believe or do not believe that ACA will improve patient care
I personally believe that the Affordable Care Act will improve patient care. Before the Affordable Care Act was passed, women faced barriers to receiving the proper care. Women were sometimes charged 1.5 times more than men for health insurance policies (Rapfogel et al, 2020). Women faced discrimination in ways that are labeled as gender rating. I believe that the Affordable Care Act has supported women and will in turn improve their care.
The Affordable Care Act has in some ways forced healthcare providers to be more culturally competent. Underserved communities located in rural populations rely heavily on federally funded health centers. In order for healthcare providers to give their patients the care that they deserve, it is important that they first understand the needs, beliefs, and culture of the patients they treat (Orenstein, 2015). Being culturally competent is crucial because the provider and patient relationship is based solely on trust and openness. David Orenstein states that closing the cultural gap between patients and doctors will reduce the racial and ethnic basis that exists in the healthcare system (Orenstine, 2015). I feel as though healthcare professionals should be required to attend cultural competency classes before finishing their degrees. This will ensure that they understand their patients on a different level and offer them the care they deserve in the first place.
Discuss what you think President Biden should do with the ACA
President Joe Biden should continue to protect the Affordable Care Act. The Affordable Care Act was originally signed by President Obama in March 2010. Joe Biden stood behind President Obama as vice president when the Affordable Care Act was enacted. Because of the Affordable Care Act, 100 million people can rest assured that the insurance company will charge higher premiums due to pre-existing health conditions. Republicans do not agree with the stance on the Affordable Care Act and have continuously tried to repeal it through congress. I think that Joe Biden having people enrolled in the program if they receive Supplemental Nutrition Assistance Program or if they are located in low-income communities is efficient. This will ensure that the individuals in these communities will have an affordable option, and they should not feel as though they are being forced to choose between feeding their families or obtaining health insurance. I think that President Joe Biden and his current administration should do everything in their power to allow the Affordable Care Act to exist in the United States.
Overall, the Affordable Care Act has given Americans the opportunity to take charge of their health and live healthier lives. Individuals that were previously uninsured, living in low-income areas, or have pre-existing conditions have been impacted positively by the Affordable Care Act.
Discuss what strategies you would recommend in dealing with the economic realities of health care based on your own research
First and foremost, the Affordable Care Act was created to “reduce the proportion of uninsured Americans by expanding both private and public insurance coverage, reducing the costs of health care for individuals and the government, and improving the quality and scope of health benefits (Mendoza, 2016).” I think that healthcare facilities should stop seeing patients as just numbers they will potentially profit from. The Harvard Business Review offers a valid point, we should move away from using patients as supplies in order to profit from any visits.
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