Pros and Cons of a Public Option

Pros and Cons of a Public Option
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Institutional AffiliationPros and Cons of a Public Option
A public option entails the provision of a particular form of health insurance by the government and allowing citizens to purchase the policy to pay for healthcare services. The reduced pricing for health services suffices to be the most crucial advantage of a public option (Halpin & Harbage, 2010). The lower prices would be the result of many people participating in the option thus forcing premiums to be significantly low as compared to those offered by the private sector. The public option would also increase the competitiveness of the healthcare market especially in states that have few insurance options thus forcing private insurers to be honest. This, in turn, would increase accountability in the sector. Furthermore, the greater bargaining power of the government would also play a crucial role in reducing the cost of healthcare services. Finally, the public option would not be subject to tax liability besides allowing portability as people would easily change professions or jobs without the fear of losing their insurance.
It is worth noting that the cons associated with public options stem from healthcare professionals. According to Halpin and Harbage (2016), the professionals are afraid that the low costs of public options would mean low reimbursements. This, in turn, would have a trickle effect on the patients receiving healthcare through reduced quality of healthcare.

In addition, professionals could also reject patients that use public option payers such as Medicaid and Medicare. Oberlander (2016) also noted that the low premiums associated with public options would kick private firms out of business since a majority of Americans would opt for public options. The options would also transfer the tax burden to citizens since the government would have to incur additional costs to fund the scheme.
References
Halpin, H. A., & Harbage, P. (2010). The Origins And DemiseOf The Public Option. Health Affairs, 29(6), 1117-1124.
Oberlander, J. (2016). The virtues and vices of single-payer health care. New England Journal of Medicine, 374(15), 1401-1403.