Health Care Reform: What It Means for the Economy (VIDEO)

[ 0 ] September 12, 2012 |

With health care reform going into effect all over the country, more than 40 million people previously uninsured will finally be covered. That’s not only good news for those individuals, but for the economy as a whole, as well. Thanks to the Affordable Care Act, more Americans got coverage in 2011 as young adults leaped onto their parent’s health insurance plans. More people also got health insurance under Medicare and Medicaid.

Watch Martin Gaynor, professor of health economics at Carnegie Mellon University and chair of the governing board of the Health Care Cost Institute, talk about the economics of health care:

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“Obviously health care reform is very important for the United States and economic issues are critical,” Gaynor said. The fact that President Obama’s Affordable Care Act is going to expand coverage to previously uninsured is “obviously critical for the United States.”

People without insurance not only have problems getting treatment for serious health conditions – if they can even afford treatment and care – but the decision not to get treatment can have dire consequences. “It also has very serious financial impact on people’s lives, which affects their productivity, which, of course, affects the entire economy,” Gaynor says.

But it’s not easy for people to seek out understandable health care information. Individuals need to seek out help from employers, as well as health organizations within their community. Watch Gaynor discuss the social effects of health care, below:

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“Folks really have to seek out information about prices, about quality and it’s hard for people to do that on their own,” Gaynor said. “I think really it comes from people letting their employers know this is information they need to have.”

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Category: 2012 Aspen Ideas Festival, Health, Mind Body Connections, Videos

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About Martin Gaynor: Martin Gaynor is the E.J. Barone Professor of Economics and Health Policy at Carnegie Mellon University and Chair of the Governing Board at the Health Care Cost Institute. He is also a Research Associate at [...]
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