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casamurphy
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Republicans Craft the Next Great Healthcare Failure

- Peter Schiff - Euro Pacific Capital

Doctors and hospitals are in the service industry and thus they can't charge more that the incomes of their clients can support. Every society has figured out some way to pay them more than, for instance, car mechanics, who are also service providers.

The USA just has a very inefficient method for paying them more than the market can afford. The solution to this problem will never be market based because doctors and hospitals will always demand more than the broad market can pay. Therefore, some government intrusion is necessary in order to allow some access by the poor to same level of care the rich can afford.

Instead of floundering in cynicism we could undertake simple and effective reforms. No constitutional roadblocks would have to be overcome. Government established systems don’t need to unconstitutionally block doctors and hospital from contracting with patient in whatever way they wish. A well-structured public system will just make it unnecessary and uneconomical for them to do so. Here are the reforms:

1. Lower Medicare age to 55. This would most efficiently remove the most difficult to insure group from the reform process faced by the individual states.
2. Simplify the Medicare benefit structure so that there is one simple annual deductible for all parts of Medicare (A,B,and D) based upon an income and asset test; and also re-set the Medicare Part B premium so that it is also income and asset test based.
2.1 This would make the need for Medicare Advantage, Medicare Supplement, and Medicare Prescription Drug plans obsolete; saving the government and consumers hundreds of billions.
2.2 Some percentage of current insurance workers could be leased by current insurance companies to the government during a transition phase, while those losing their jobs could get direct transition assistance.
3. For everyone through age 54 each state individually or in concert with other states could adopt some proven model such as the Singapore model, the Taiwanese model, the Swiss model, etc. Large states who have larger populations and economies than many model countries will have no problem establishing systems. If smaller states run into difficulty they will can join together with other small states to adopt models that work best for them (regional proximity would not be required).

What I suggest could work. Right wingers in red states would like the individual state control aspect and burn themselves out on pushing for a return to a cash-based system for the poor and boutique plans for the highly paid employees and wealthy individuals which will ultimately prove unsustainable compared to the socialistic systems established in the blue states. Left wingers in blue states will jump at the chance to bring forth successful plans and thus help the blue brand and motivate blue voters nationwide. Big health insurance companies would find a way to profitably shift to providing administration services to Medicare and the states. Big Pharma...well big pharma would be screwed...they would most likely have to deal with bulk discounted sales to Medicare and the state plans who in turn would have the discounted drugs fulfilled through the existing pharmacy outlets.

Commented 2500 days ago

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Beginning of the headline :Those who claim that the Senate Republican proposal to replace Obamacare will kick millions of people out from health insurance coverage are dead wrong. Yes, it will cause the number of insured people to decline, but that will happen because millions of healthy individuals will be incentivized to voluntarily opt-out of traditional health insurance. For those people, the law will make traditional insurance a sucker bet. Instead of buying comprehensive health insurance policies, as they are curren... Read More

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