Thursday, December 15, 2005

Health insurance should be like car insurance 

Mandatory, and only to cover catastrophic cases (a policy with a $10,000). Given that I only go to the doctor once or twice a year, paying two to three thousand dollars a year in premiums is ludicrous. Thus I opt out of the system. And I'm not alone, other healthy people don't pay into the system either. Most people who do are those that will get more money out of the system than they pay in (old people and to a lesser extent new familes with young children). So where does the money come from to pay for the system? Premiums spiral up every year, more people opt out because it's not in their financial interest, and thus premiums go up again. Health insurance as it is currently constructed is in a death spiral.

I summarize this article, which makes a lot of sense.

And, those of you that say let's have a state system, remember that even with our current system we still pay more per capita on health insurance than any other country. And, because anyone can pay for any procedure they wish, or opt into health insurance, Americans have access to more specialists, advanced medical equipment, and surgery than any other country. Yes, that's right, our system in which healthy people aren't covered is still the best.

Now, if I had to pay $500, or something like that, for catastrophic coverage, I'd do that. Because anything less--regular appointments, I can pay out of pocket and save money compared to the current system.

People think they are entitled to health care whenever they want it without having to pay the cost for that health care. That is fiscally unfeasable. Thus, the options are either a nationalized system where we pay 50% income tax at the minimum to support the system (and get less care because everyone will always want to see the doctor because they're paying so much every year even when they aren't sick), or a plan like this one. I prefer a plan like this.

I agree health insurance should be like car insurance that would make things a lot easier.
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