Health Care Policy & Law.

May 14th, 2015
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University of Windsor
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The set of procedures adapted by the state to tackle the cost of healthcare insurance for people of the state is regarded as financial system of health insurance. Depending upon the variable ground realities and customs.

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Health Care Policy & LawHealth insurance financing systemsThe set of procedures adapted by the state to tackle the cost of healthcare insurance for people ofthe state is regarded as financial system of health insurance. Depending upon the variable groundrealities and customs, every state has their own set of principles which may be dynamicallychanging from time to time. Broadly, there are two ways of financing health care insurances;governmental based or market based. Governmental based financial system collects the taxesfrom public and uses this tax money to pay for healthcare facilities and insurances. In thissystem, governmental functions are accountable in the court of law in the case of anymishandling. Market based financial system is run by private healthcare organizations who havetheir self-devised cost models and they have to be paid directly by people to be insured. Eachsystem has its own advantages and disadvantages [JNG (2015)].United Kingdom has established a single-payer government based health insurance financialsystem. UK collects funds and taxes from people and directly pays the healthcare organizationsfor insurance coverage. United Kingdom has named its health coverage system as NHS (NationalHealth Service) which is run by the tax money and all prescribed drugs and treatments are freebecause costs are cut from taxes. The maximum cost patients have to pay for any medical drug is$12 [TIME (2009)].As compared with UK, United States has market

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