Let’s make it capitalistic again!
My idea - Allow only High deductible insurance policies that qualify for HSAs. Including government policies, employer sponsored plans, private insurance, EVERYTHING!
What will this fix?
Everyone has skin in the game. This causes us to make better choices.
Eg: A mother living in poverty her and her children are currently on Medicaid/state insurance. When it’s Saturday afternoon and their child has a fever (looks like a simple cold) that mother is going to choose the ER because their insurance covers everything. What if the insurance was a High deductible plan with no premiums and the Government contributes close to the deductible amount to their HSA. They should be trained to understand that once they use the funds in the HSA there will be $200 (or whatever amount is chosen) they’ll have to pay. That mother will wait until Monday when the doctors office is open and give OTC fever reducers over the weekend or go to an urgent care if necessary.
Cost of Healthcare:
When everyone in the country has a high deductible health plan and has skin in the game they will say “$700 for my child’s check up appointment is too much!” The cost will have to decrease. It’s capitalism at work!
For employers: increase the amount they can contribute to and HSA. They’ll save so much in premiums they’ll be happy to contribute more.
I know there is more to work out and lots of scenarios to consider to make sure this will benefit everyone, but I think it’s a solid start to fixing our broken system!