Discussion Thread_ Financing and Managing Costs in Healthcare
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Dec 6, 2023
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Discussion Thread: Financing and Managing Costs in Healthcare
The free-for-service idea is when consumers acquire coverage for a set of benefits, use individual
medical services, and pay the health care provider for the services delivered. To contrast fee-for-
service and prepaid health plan models, fee-for-service is when the provider is paid by the
insurer or out of pocket for the insured, who is then reimbursed by the insurer. Prepaid health
plans are those in which the insured individual pays a certain sum in return for services. Services
are covered by insurance, and the patient pays a copay for services such as medical appointments
and medicines. The prepaid health plan concept is the finest kind of health insurance for both
consumers and organizations. Fee-for-service programs are obsolete and hardly utilized
nowadays. Prepaid health plan models are more efficient and save time for both the insured and
the insurer, as well as cost fewer out-of-pocket payments for the insured.
Considering the cost of health insurance will continue to rise as medical costs rise, many people
have called for efforts to reduce healthcare insurance costs and make reforms for those who
cannot afford it. According to an article that I read, "A portion of the federal funds would be used
to reduce costs for people who already have health insurance coverage but struggle to afford it,
while very small businesses would receive help in paying insurance premiums." (Davis, 2010)
There is a lot of work being put into making health care cheap while simultaneously assisting
companies to stay afloat by obtaining the right payment from insurance. Another article
highlighted why insurance premiums are rising: "The risk pools for health plan populations are
now much different than before and health payers are being required to cover the expenses of
some of the more costly patients within the healthcare delivery system"(Gruessner, n.d). I feel 1
Corinthians 6:19-20 corresponds with this topic: "Or do you not know that your body is the
temple of the Holy Spirit who is in you, whom you have from God, and you are not your own?"
Because you were purchased at a cost, honor God with your body and soul, which are God's"
(NKJV).
References:
https://www.americanprogress.org/article/the-impact-of-health-reform-on-health-system-spending/
https://healthpayerintelligence.com/features/how-the-affordable-care-act-changed-the-face-of-health-
insurance
https://www.biblegateway.com/passage/?search=1%20Corinthians%206%3A19-20&version=NKJV
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