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As I review social media the angst over health care costs and insurance is apparent. Americans don’t like premiums, out of pocket costs, insurance companies or anyone interfering with their health care. Most people have no clue about the relationship between premiums, deductibles and out of pocket costs. One goes down the others must go up.
Americans want any and all services paid without question and they want it all “free.”
That’s quite a wish list. Oh yes, they also don’t want anything remotely looking like socialized medicine which some call Medicare.
I always found it amazing how money spent on health care is always viewed as very different than the same amount of money spent on just about anything else. I learned this well from decades managing health plans and dealing with people.
Just think of the tens of thousands of fans spending small fortunes to attend the World Cup matches. It’s $250 just to take the train from NYC a few miles to the NJ stadium. Fugatabout what they spend on tickets, etc.
Then I imagine their reaction if a pharmacist told them the Rx copay was $250. The Rx may save their life, but it’s unaffordable. The soccer match gives then pleasure and is affordable even if it is on credit.
I don’t have an answer, I don’t know what Americans want or expect possible when paying for healthcare. However, I suspect what people may want is to hide all costs in taxes so when it comes to receiving healthcare, it will be “free” like in other countries. Good luck getting anyone to admit that though.
FYI The average net profit margin for health insurance companies 5-6% – among the lowest industry and if you took the compensation of the CEO of the largest insurer and allocated it to policyholders premiums it equals less than a dollar each.
So, any ideas? What do we Americans want when it comes to paying for our healthcare?
What strikes me is that the U.S. spends about 17% of GDP on healthcare, versus roughly 10%–12% in countries like the Netherlands, Germany, Belgium, and the Scandinavian nations.
Yet our health outcomes are often no better—and sometimes worse. The question isn’t whether we’re spending enough, but why we’re spending so much more for comparatively poor results.
If we could even partially reclaim that extra 5%–7% of GDP, we could fund many of the social programs that today seem unaffordable.
You have to be careful looking at health outcomes. Our health care quality is fine. Many of the outcome comparisons are affected by population and lifestyle differences. And of course millions with limited access to care. We are the most obese country in the world outside of a few Pacific islands. High infant death rates are not because of quality, but access and parent lifestyles.
Other countries accept as normal waiting times and other limitations. Americas think more care and faster care and often duplicate care is always better. It isn’t. Compare the number of MRI scanners in the U.S. They have to be used to pay for them. Only Greece has more per 100,000 population. Ireland has less than half the U.S. Some countries a third. I can drive to six major hospitals in 20 minutes or less. That may not be efficient.
I have traveled with my children as preteens and later as young adults in Germany and Japan. On one occasion our son required an outpatient visit for a serious infection. Our daughter had an emergency room visit for a serious health condition. In both instances, medical services were relatively prompt (< 1 hr wait) and inexpensive. Prescribed meds were also inexpensive and the health concerns were resolved. I contrast that with the forms, billing, EOB statements, and coverage reviews we all – well most of us – experience in the US. The US spends more per capita on health care than other nations. Yet, our health outcomes – think infant mortality – are sub par for developed nations.
I think R. Quinn’s post highlights the lack of good healthcare education among the general public. As Quinn noted in another thread on this site, in retirement and as we age, our health and making the most of our time are extremely valuable. I think many would exchange taxes for healthcare for unanticipated expenses that can wreck individual and family finances.
Quinn’s post highlights the lack of good healthcare education. I totally agree, but would add that we individuals need to eat better and exercise more.
The other day I had my first Jersey Mike’s Philly Sub and a bag of chips. It was sooooooo good, but probably a lousy choice for my health. But the good news is, I just had a great workout at Planet Fittness!
Well duh, Dick, I want my taxes to pay all my health care costs….. Just don’t raise my taxes🥴
I think a few million people agree with you. I think you are on to something. 😱