Did you know that individuals that have poor health, cost the United States money? Even though this may sound silly, it has validity to it. The cost is not minor either; it costs in the billions of dollar range. Unfortunately, these high costs are not covered by affluent individuals; instead the costs are left for minority and poor communities to cover.
Health disparities affect two racial groups more than any other group in the United States. These disparities affect Latinos and black the most. The disparities cost the United State economy $82.2 billion dollars annually in direct spending along with lost productivity, at least, these were the figures as of 2009.
African-Americans had a large price tag of $54.9 million, Hispanics costs were $22 billion. Over ninety percent of the costs were recouped from individuals that resided in urban areas. The issue, along with other extenuating circumstances makes the issue of getting rid of health disparities a problem that is affecting individuals on the national levels.
Due to health disparities there are high levels of illness, disabilities, and deaths. In addition to excessive diseases not being treated the way that they should, health disparities pose an economic burden on society as well, according to reported findings.
Add into the fact that the United States is a nation that is teetering on a fiscal monetary cliff, rising costs associated with healthcare are not going to be taken lightly. Policymakers and the public will need to understand that illnesses and diseases can cause economic strife. The cost of studying the illnesses is what allows policymakers to make the proper judgments about how much money should be invested into the society to protect individuals against deadly diseases.
Additional findings regarding these disparities report that African-Americans that dwell in Midwestern urban areas do not have an appropriate share of healthcare spending. These individuals equate for 6.5 percent of the adult minority community, however they are expected to bear the weight of 15.5 percent of costs associated with healthcare.
Hispanics who live within Northeastern areas also are forced to bear disproportionate costs for healthcare, at 14.1 percent of the entire Hispanic population, but they are required to share in thirty-five percent of the costs. Productivity within the labor market decreases by $22.3 billion due to health disparities.
Based on the trends that have been showing for an elongated frame of time, by the year 2020 health disparities are going to cost the United States $126 billion and by the time 2050 rolls around, the costs will more than double to $363.1 billion. If the Affordable Care Act is put into effect, the way that it is being stated, then costs will surpass these projections.
There are solutions to these issues that need to be evaluated, in order for the United States to be able to get a handle on the poor economic conditions that are afflicting people of the country. Including health insurance enrollment campaigns that target minorities or by having community based groups fund plans will definitely help with all of these issues.