The Future of Health Insurance

[somarco]

The primary, under-lying reason for high, and rising cost of health care is because we (we -American Consumers in need of healthcare) want it to be.

Beg to differ.

The driving factor is not that we demand the best. After all, what parent would say "Find the cheapest doctor to save my child."?

Rather one of the driving factors behind rising health care costs is that (most of us, not me, but most of us) want everything to be covered by insurance. And we don't want a deductible, only a copay.

I have used this analogy before and it drives home a point.

How affordable would car insurance be if it covered tires, brakes and oil changes for only a $10 copay?

The problem is too much of health care is first dollar coverage. Patients have no skin in the game. That in turn drives demand which increases prices.

Now consider laser eye surgery. Unless you are talking about cataracts, it isn't covered. What was once $5,000 per eye is now $800.

Why?

Because it isn't covered by insurance.

 

[mudhound]

We have got a problem. We now think Health ins is everything to do with healthcare. Where does personal responsibility lay

 

[cadylou]

Beg to differ. The driving factor is not that we demand the best. After all, what parent would say "Find the cheapest doctor to save my child."? Rather one of the driving factors behind rising health care costs is that (most of us, not me, but most of us) want everything to be covered by insurance. And we don't want a deductible, only a copay. I have used this analogy before and it drives home a point. How affordable would car insurance be if it covered tires, brakes and oil changes for only a $10 copay? The problem is too much of health care is first dollar coverage. Patients have no skin in the game. That in turn drives demand which increases prices. Now consider laser eye surgery. Unless you are talking about cataracts, it isn't covered. What was once $5,000 per eye is now $800. Why? Because it isn't covered by insurance.

I too use the car insurance analogy when talking to people about this, but they've been conditioned to expect these items to be included. The ACA demands that preventive care, maternity and a host of other things be covered. Personally, I'd like a bare bones hospitalization plan myself. I'm insuring against the big loss---all the other stuff, I can manage. For those who cannot manage, those extras should have to be purchased through additional riders.

 

[vic120]

Beg to differ.

The driving factor is not that we demand the best. After all, what parent would say "Find the cheapest doctor to save my child."?

Rather one of the driving factors behind rising health care costs is that (most of us, not me, but most of us) want everything to be covered by insurance. And we don't want a deductible, only a copay.

I have used this analogy before and it drives home a point.

How affordable would car insurance be if it covered tires, brakes and oil changes for only a $10 copay?

The problem is too much of health care is first dollar coverage. Patients have no skin in the game. That in turn drives demand which increases prices.

Now consider laser eye surgery. Unless you are talking about cataracts, it isn't covered. What was once $5,000 per eye is now $800.

Why?

Because it isn't covered by insurance.

I don't know about that, I have a $2250, two per family deductible applies to everything meds docs. I have paid premiums every month more this year then last and not only has the Ins co paid $0 and I paid $3450 in med expenses I will see a 62% increase next year

 

[bluemarlin08]

I don't know about that, I have a $2250, two per family deductible applies to everything meds docs. I have paid premiums every month more this year then last and not only has the Ins co paid $0 and I paid $3450 in med expenses I will see a 62% increase next year

The problem is simple, you are in a pool that the insurance company couldn't medically underwrite and claims were/are much greater than expected. Much of these claims are generated by the subsidized that are killing claims. On the other hand, I would be praising God you and your family have very few claims. Some of us have experienced hundreds of thousands of claims.

 

[somarco]

Marlin makes an interesting point, and one that I have repeated more than once over the years.

Clients that have had to use their plan were grateful they had it but would gladly trade with those who never used their plan. It seems you really can't put a price on good health until you lose it.

 

[Yagents]

Insurance is one of the few sales jobs, where you first thank them for their business, and then hope they never use it.