Health Care

Health Care and ‘Skin in the Game’

Posted on by Joseph Sparks

Other countries have implemented Medicare-for-all systems that do not require “skin in the game,” and they get better health outcomes at much lower costs. In fact, “skin in the game” causes consumers to forgo necessary health care. The most common way to implement “skin in the game” is with high-deductible health plans. As one health expert stated:

The nation continues to push forward with expanding deductibles in health plans in spite of evidence that they are creating great harm by increasing financial burdens on individuals and families and by impairing access to essential health care services and products.

Meanwhile, health insurance and pharmaceutical executives have no incentive to improve the system. For too long these executives have been able to act however they want without any consequences. This has literally killed people and caused bankruptcies—all in efforts for the companies to keep their profits high and for the CEOs to keep their salaries astronomical.

It is time to force these executives to have “skin in the game.” We need to define a series of performance goals for our health care system.

The first goal should be that our health system covers everybody.

The second goal should be to eliminate financial stress from accessing health care. Eliminating copayments and deductibles can achieve this.

The third goal is that patients should have the freedom to choose any medical professional or hospital.

The fourth and fifth goals should be to have the per capita health expenditure equal to or less than $4,750 and the health expenditure as a percentage of GDP that is equal to or less than 10 percent. According to data from the Organisation for Economic Co-operation and Development, which represents 35 countries, the average per capita health expenditure is about $4,750 for developed countries, and the average expenditure as a percentage of GDP is about 10 percent.

Until all goals are met, health insurance and pharmaceutical executives are limited to compensation that does not exceed ten times the minimum wage. Profits from the companies shall be used to reduce health care costs until the goals are met. Once met the companies may use their profits and compensate their executives however they want.

These executives have perpetuated a system that requires too many patients to sacrifice their good health, their financial well-being, and/or their lives. It is only fair that we make the executives have “skin in the game.”

Medicare-for-all—There Is No Better Solution

Posted on by Joseph Sparks

Republicans have been saying for many years that the Affordable Care Act, aka Obamacare, needs to be repealed and replaced with something better. Medicare-for-all is that something better.

Unfortunately for Republicans and the rest of us, after six years of complaining, they still have no idea of how to replace Obamacare. Their latest proposal is to repeal Obamacare, then delay the repeal for two to three years in the hope that they can force Democrats to negotiate a replacement.

Republicans argue falsely that the current problems in our health care system have been exacerbated by Obamacare. In fact Obamacare has mitigated some of the worst problems by reducing the number of uninsured by about 12.5 million and allowing people with pre-existing conditions to get insurance.

However, even Obamacare has not been able to fix the systemic problems that cause the United States to have the most expensive health care system in the world with some of the worst health outcomes of any developed nation. We pay for a yacht, but get a dinghy.

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Medicare-For-All Is Winning the Debate

Posted on by Joseph Sparks

Medicare-for-all advocates should rejoice. You are winning the debate. No one has refuted the benefits of this proposed single-payer health care system. The arguments that have been presented against Medicare-for-all have been wrong, misleading, and disingenuous. Even the haggling over cost is not much of a dispute. This issue is not whether Medicare-for-all will save money—it will—it is just a question of how MUCH will be saved.

The benefits of Medicare-for-all include: one, it covers everybody. No more time needs to be spent figuring what insurance to buy or what your policy covers.

Two, it eliminates co-payments and deductibles, making health care affordable and accessible to all. No more worrying about whether you can afford medical care or whether the co-payments and deductibles will cause bankruptcy.

Three, it covers more benefits than most current insurance. For example, Medicare-for-all covers vision and dental, benefits that many insurance policies lack.

Four, it provides the freedom to choose any hospital or medical professional. Under Medicare-for-all you can choose any physician you want, and you can stay with that doctor no matter how many times you change jobs. No longer will your choice be limited by the insurance companies’ ability to get the best rate without regard to quality.

Five, it allows the physician to determine the best course of treatment based on need, not based on whether your insurance policy covers the treatment or whether you can afford it.

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Trickle-up Economic Stimulus and Investment

Posted on by Joseph Sparks

The economic news has been contradictory in the last few weeks. Bad news started the cycle with real gross domestic product decreasing at an annual rate of 2.9 percent. Good news followed with solid job growth and the lowest unemployment in five years, 6.1 percent.

Regardless of whether the economic news is good or bad overall, many people think the economy is stuck in low gear. While people at the upper end of economic ladder have seen their incomes substantially increase, those in the lower- and middle-class have seen their incomes stagnate for the last several decades.

If we want robust economic growth for both the short- and long-term, then a bold plan is needed that combines stimulus with investment in physical and human capital. The right plan would lift everybody, especially those people who have not seen economic benefit for decades.

The country anxiously awaits leadership that will provide such a plan. Neither party has produced this.

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