The Problem With Health Care Reform – I Want Auto Insurance For My Body
Let’s get something clarified right up front – the debate is not about reforming health…
Let’s get something clarified right up front – the debate is not about reforming health care. We have some of the best doctors, hospitals and medications available in the world today. This is all about reforming the way health care is financed and the way health care insurance is handled. This series of articles is just some ideas I want to share.
Health insurance has come to be known by something else entirely. By its very basic definition, insurance covers the unexpected, the accident, the catastrophic. Health insurance coverage at its root has come to represent something entirely different and what we have learned to expect a LOT more from it. It is now a blanket to cover EVERYTHING with the insured contributing a co-payment for everything from removing a splinter to an organ transplant.
How did we get here?
Why do I need to pay an expensive monthly premium plus a co-payment for just routine checkups or for the sniffles? I’ll pay myself when I need to go to the doctor.
Think about it. If you’re a relatively healthy individual, eat right most of the time, get some regular exercise, why pay hundreds per month (thousands per year!) for insurance if you go to the doctor four times a year at an average cost of $150 per visit???
All I want is coverage in case I get really sick, in case of an accident or if something unforeseen or catastrophic happens to me.
Let me do a comparison. It may seem far-fetched but stick with me…
Car Insurance versus Health Insurance
Car insurance covers loss…unexpected expenses due to an accident or damage caused by a storm or other covered event. It does not cover routine maintenance, gas, repairs or any other regular, expected expenses.
In every state in the US, automobile insurance is mandatory. You must have coverage. But what kind of coverage? In most locations, it may be called many things: ‘no-fault’, ‘minimum’ or ‘liability’ or ‘proof of financial liability’. The best way to describe this type of insurance coverage is that it does not really ‘insure the insured’ but provides a layer of financial liability for the other party involved in an accident. If the insured is found ‘at fault’ or in other words, the accident was their fault, then the insurance pays for the injured party’s repairs and injuries. It does not cover any loss for the insured.
Now, there are additional coverage that can be purchased. Collision, comprehensive and uninsured motorist insurance coverage covers the insured, regardless of cause, liability or who is at fault. This costs a great deal more than basic coverage.
Now, do you file an insurance claim for a tune-up? Filling up your gas tank? Replacing a flat tire? Hardly. That Health Professional is NOT the intent of auto insurance. YOU pay for the expenses of operating and maintaining your vehicle.
Why not approach health insurance this way? Everyone pays a premium for a catastrophic health insurance policy that will cover the expenses of unforeseen expenses and most expenses related to expensive medical procedures that exceed ( for argument sakes) $5,000 in a year.
After $5,000, a minimum of 80% but additional coverage(s) can be added to cover 100%. All other expenses would be paid out of pocket by the individual.
In Part 2, I’ll throw out thoughts about Healthcare Management Degree Courses the cost and who pays what…