Global Courant
The private sector can do it with the right guiding policies
The private medical health care system is not broken. It provides excellent care for patients. What is broken is the cost of the service.
Before the use of health insurance became widespread, the market set prices. The doctor would determine the price for which he could provide the service. The patient would determine if he/she was willing and able to pay the price. When a third party became involved, such as an insurance company or the government, the price rose to the amount of the third party’s means.
The government decided to increase the number of people taking out health insurance. Lobbyed by insurance companies, the business community and the medical sector, the government has decided to make health care premiums tax deductible for companies and individuals. Naturally, this caused a furious development of health insurance with very low deductibles.
The problem of higher medical costs every year arises when the insurance companies can increase the insurance premiums every year to pay for the higher prices of the medical institution. Higher medical costs are also caused by low-deductible insurance policies.
When the patient avails the benefits of the insurance, he/she is not worried about the price of the medical services, only the fact that he/she is proud of himself/herself for having made the wise choice to get a health insurance policy. health insurance and that he/she gets value for money. worth. This consumer attitude can cause prices to rise. If they’ve chosen low-deductible insurance and it’s paid in whole or in part by the employer, they’re even further disconnected from feeling the cost of the medical expenses. The fact that he/she or the entrepreneur receives a tax deduction equal to the amount of the annual premiums deprives the premium payer of the need to compare.
It would be better to increase the deductible amount and encourage the use of Health Savings Accounts (HSAs). HSAs must be fully tax-deductible each year up to the amount of the annual insurance deductible. The government created HSAs to encourage people to save money for future medical expenses and to encourage the use of high-deductible health insurance plans. Health care premiums may not be deductible for employers and individuals.
In order to equalize the cost of health insurance premiums, individuals and the self-employed would have to pay the same amount as employers and employees of large companies. The insurance companies should be encouraged to make this change so that more people would take out health insurance and the insurance companies could lower premiums by spreading the risk over a larger number. people.
Now that health insurance premiums are not tax-deductible, employers, individuals and the self-employed are more likely to compare for the best deal on health insurance premiums and policy benefits. It will encourage the insurance companies to be more diligent in their negations with the medical industry because the health insurance buyer would be more sensitive to the price of the premiums. As more people take out health insurance, the insurance companies are less likely to have to pay money for benefits, allowing them to lower health insurance premiums.
HSA health insurance policies should be used across the country so we don’t repeat the same mistakes of the past. Preventive care benefits should be available without the payment of a deductible.
Hospitals and government-run health programs are slow to provide services because a medical board or primary care doctor must first approve medical procedures. Other centrally directed medical programs in other countries have shown this to be true.
The insurance companies should not be allowed to deny medical insurance to a patient with pre-existing conditions. It is best to include the entire population in the health insurance system, that way the risk is spread over the largest number of citizens.
Since the deductible will increase with this plan, instead of the government paying directly for 100% of the medical expenses of the working poor, it must match dollar for dollar, every dollar put into the HSA by the person or family , up to the deductible amount. The same policy should be applied to the insurance premiums. The money could only be removed, with a debit card, used by an approved and prepared medical office or hospital with the approval of the patient. Both the patient and the medical facility would need to enter their PIN to have the funds removed from the HSA.
If a person does not immediately have a life-threatening illness or injury, the hospital should be allowed and encouraged to deny the patient medical care after being seen by a doctor, intern or nurse in a screening room. The hospital must then provide the patient with directions and availability information of the nearest emergency department. Advice to see a doctor the next day is usually not good advice because of the doctor’s appointment system.
Computers can also be made to send vital signs to a doctor or nurse so they can determine if there is an emergency.
With the patient responsible for paying the bill, out of their HSA, due to the high deductible, they will be encouraged not to abuse the system and seek help from the appropriate institution. Hospital emergency rooms would then be available to patients with a life-threatening illness or injury.
The treatment of non-life-threatening illnesses or injuries in hospital emergency departments is a major cash flow for hospitals. Hospitals should be denied payment if they fail to follow this policy change.
Unless everyone involved, from the patient, to the doctor, to the hospital, has some “skin”, the price of health care will continue to rise faster than other costs in the economy. A perfect example of this is the residential mortgage sector. The banks, mortgage brokers and financial institutions were not exposed to the risk and ultimate cost of the housing bubble after they sold the mortgages to investors and government-backed agencies.
Restoration of the healthcare market system
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