Public Finance in the Health Care System Essay Example | Topics and Well Written Essays - 500 words

Public Finance in the Health Care System - Essay Example Progressive reports show that the number of then uninsured in Vermont has been going down. There were 8.4 percent uninsured persons in Vermont in 2000 and 6.8 percent uninsured persons in 2012. Eighty percent of the uninsured Vermonters cited the cost of health insurance as a major reason why they did not take insurance covers. In 2012 it was found that most uninsured Vermonters were unmarried, male, poor, young, working and without a college degree. According to 2012 statistics, there are more Vermonters who are working but are uninsured (75 %) than Vermonters who are working and are insured (65%). The median annual income of uninsured Vermonters was in 2012 was 201% of the federal poverty line (Smith et. al., 2013). In 2010, the Kaiser Family Foundation surveyed the Medicaid Payment per enrolled. The survey showed that Vermont spent $10,550 per every aged person covered under Medicaid. It was also found that the spending per every disabled Medicaid enrollee in Vermont was $17,936. Every adult Medicaid enrollee cost Vermont $3,437 in 2010 whereas the state spent $3,667 on every child Medicaid enrollee. In the same year, Vermont spent $5,099 on every Medicaid medically needy enrollee (Cuckle et. al., 2011). Vermont raises over 95% of its revenue from taxes. The statewide property tax is estimated at $1,035.7 million in Vermont’s state fiscal year 2015 and as such, it is the state’s largest source of revenue. Personal income tax makes up one-third of non-property-tax revenue in Vermont. The sale and use tax is the third largest source of income, followed by rooms and meals taxes. Federal funds represent approximately one-third of Vermont’s funding for state programs. In January 2014, it was estimated that available general fund in Vermont was 76%, available transportation fund was 14% and available education fund was estimated at 10% (Snyder et. al., 2012). In 2010, there were 15.2% Vermonter adults in