As with any public policy, the public want to ensure that the policy is effective with the lowest cost and greatest possible benefits. In addition, efficiency, simplicity, ease of implementation, and, of course, equity need to be considered. The Institute for Women’s Policy Research (IWPR) completed a thorough cost benefit analysis on the HFA and concluded that the total costs are $20,235.9 million and the total savings are $28,375.0 million.[1] This comes to a cost of $5.98 and a savings of $8.38 per HFA covered worker per week.[2] As evidenced by the net cost savings, the financial benefits outweigh the financial costs. In addition to the financial benefits there are numerous indirect and difficult to quantify benefits to individuals, families, and the public, not least of which is healthier and happier lives.
[1] Vicky Lovell, “Valuing Good Health: An Estimate of Costs and Savings for the Healthy Families Act,” Institute for Women’s Policy Research Publication #B248 (2005): 1, http://www.nationalpartnership.org/site/Doc Server/HFACBALovell.pdf?docID=367 (accessed October 23, 2011).
[2] Ibid.