Cost of Switzerland's deprofitized Compulsory Basic Health Care

Discussion in 'Political Opinions & Beliefs' started by nopartisanbull, Jun 18, 2021.

  1. nopartisanbull

    nopartisanbull Well-Known Member

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    First, let's put the facts on the table;

    1. Switzerland has an ALL PRIVATE Health Care System, and also has a COMPULSORY Basic Health Care package

    https://en.wikipedia.org/wiki/Healthcare_in_Switzerland

    2. What's covered in their compulsory Swiss health insurance?

    ..........Visits to a doctor for the purpose of diagnosing or treating an illness are covered by your basic policy
    ..........Treatment by a Specialist
    ..........Hospitalizations
    ..........Medicine prescribed by a doctor
    ..........medical treatment outside country
    ..........Maternity package........read
    ..........Ambulance Transportation
    ..........Treatment by qualified psychiatrists is covered
    ..........Pediatric examinations.......8 routine medical examinations over the course of their childhood
    ..........Your basic health insurance covers 1 preventative gynecological check-up every 3 years.
    ..........Dental repair........Compulsory health insurance covers dental repair when the condition is caused by illness or by medical treatment.
    ...........Eyecare........Until children turn 18, compulsory health insurance covers up to $200 USD180 of the cost of prescription glasses and contact lenses every year.
    ...........and other benefits


    https://www.moneyland.ch/en/basic-swiss-health-insurance-costs-covered-overview

    3. Switzerland Compulsory Average Monthly Premiums; USD $343
    https://lenews.ch/2020/09/25/cost-of-health-insurance-to-rise-in-2021-in-switzerland/

    https://www.google.com/search?q=swi...i57j0j0i390.9966j1j9&sourceid=chrome&ie=UTF-8

    4. U.S PRIVATE Monthly Average health insurance premiums; $495
    https://www.valuepenguin.com/average-cost-of-health-insurance#average

    5. Cost differential; $495 FOR-PROFIT - $343 DEPROFITIZED = $152

    6. U.S......Number of Privately health insured, both group and individual; 221 million

    https://fas.org/sgp/crs/misc/IF10830.pdf

    7. U.S. Health Insurance Industry Net Earnings/Profits; Approx. $23 billion

    https://naic.org/documents/topic_insurance_industry_snapshots_2018_health_ins_ind_report.pdf

    8. U.S. Average Profits Per Privately Health Insured; 23 Billion/221M = $104 dollars

    ----------------------------

    Comments;

    I like Switzerland's PRIVATE, NO-PROFIT, Compulsory Basic Health Care Package. Basically, Medicare Part A, B, and D For ALL.


     
    Last edited: Jun 18, 2021
    Lucifer likes this.
  2. nopartisanbull

    nopartisanbull Well-Known Member

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    Quote: I like Switzerland's PRIVATE, NO-PROFIT, Compulsory Basic Health Care Package. Basically, Medicare Part A, B, and D For ALL.

    HOWEVER, Profit isn't a main reason why PRIVATE Health cost significantly more than Single-Payer's Health;

    The Math;

    U.S. Average Profits Per Privately Health Insured; 23 Billion/221M = $104 dollars

    Average Annual Health Premiums; $5,940 ($495 X 12)

    Average Profits ($104) per health insured/Average annual health premiums ($5940) = 1.8%

    Cross Reference;

    Anthem's 2018 Annual Report;

    Total Revenue; $92.1 Billion
    Net Income; $3.750

    $3.75 Billion/$92.1 Billion = 4%

    https://ir.antheminc.com/static-files/5206ce42-3f65-45ad-b70f-6f676bc06e91

    ----------------------------

    THUS, the main reason why Switzerland has a PRIVATE/NON-PROFIT Compulsory Basic Health Care System is to keep PRIVATE costs down to a minimum.
     
    Last edited: Jun 18, 2021
  3. garyd

    garyd Well-Known Member

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    It also a country smaller than most US States, has little to no immigration an a population smaller than some US cities. It is in essence the world's largest ski resort, with good hot chocolate, and interesting clocks.
     
    Last edited: Jun 18, 2021
  4. nopartisanbull

    nopartisanbull Well-Known Member

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    What's your point?

    Big or Small; ''per capita'', ''average per'', ''as a percent of'', same phooooken thing! However, just to please those who haven't graduate elementary school, let's compare same population, thus;

    Switzerland;............ population; 2019......8.545 million

    https://www.google.com/search?q=swi...131i433j0l8.7750j0j7&sourceid=chrome&ie=UTF-8

    and

    State of Virginia

    Population; 2019.......8.535 milion

    https://simple.wikipedia.org/wiki/List_of_U.S._states_by_population

    --------------------------

    Switzerland Compulsory Average Monthly Premiums; USD $343
    https://lenews.ch/2020/09/25/cost-of-health-insurance-to-rise-in-2021-in-switzerland/

    State of Virginia's U.S Monthly Average health insurance premiums; $443
    https://www.valuepenguin.com/average-cost-of-health-insurance#average
     
  5. ShadowX

    ShadowX Well-Known Member

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    When you force people to pay for something they don’t need and don’t use, it’s easy to bring costs down for the people who do use it.
     
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  6. nopartisanbull

    nopartisanbull Well-Known Member

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    Switzerland's ''Compulsory basic health.....SAME as Uncle Sam's ''Individual Mandate''........everyone is required to have insurance, however, Switz difference is their ''basic health'', U.S. equivalent; let's say a Bronze Policy, is non-profit.
     
    Last edited: Jun 18, 2021
  7. ShadowX

    ShadowX Well-Known Member

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    Yes but Switzerland’s government assistance and those who don’t work is a FRACTION of what it is in the us.
     
  8. nopartisanbull

    nopartisanbull Well-Known Member

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    Switzlerland's PRIVATE health care is highly subsidized, it's like Obamacare.

    Ï'll look up their Compulsory Basic Health Care Subsidies.
     
  9. Daniel Light

    Daniel Light Well-Known Member

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    The average retired couple will see about $180,000 in health care bills during the rest of their lifetime.
    The average retirement savings in this country is $70,000.

    Guess who makes up the difference anyway - taxpayers with pay up front or later.
     
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  10. nopartisanbull

    nopartisanbull Well-Known Member

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    There you go......this site only states

    The federal government and the cantons provide income-based subsidies to some individuals or households to cover mandatory health insurance premiums; income thresholds vary widely by canton.8 Overall, 27.3 percent of residents in 2016 benefited from individual premium subsidies.

    https://www.commonwealthfund.org/international-health-policy-center/countries/switzerland

    In addition;

    Do employers cover health insurance in Switzerland?

    Switzerland has universal healthcare, but it is paid for by the individual rather than through taxes or by your employer. ... If you are in Switzerland for longer than three months, even as a tourist, you must be covered by a recognized Swiss health insurance provider.
     
    Last edited: Jun 18, 2021
  11. nopartisanbull

    nopartisanbull Well-Known Member

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    IMO, same system in the U.S., at least 60% of population would be subsidized.
     
  12. nopartisanbull

    nopartisanbull Well-Known Member

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    In other words, Compare to Switzerland's 56 non-profit private insurers on their exchanges, Obamacare exchanges is CAPITALISM.

    https://www.commonwealthfund.org/international-health-policy-center/countries/switzerland
     
  13. nopartisanbull

    nopartisanbull Well-Known Member

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    Last edited: Jun 18, 2021
  14. FAW

    FAW Well-Known Member Past Donor

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    Assuming that they do not have supplemental insurance, a Medicare recipient is required to pay 20% of their healthcare bills. $180,000x 20%=$36,000

    If you are inferring that the numbers imply that the average couple is going to have a $110,000 shortfall, you are mistaken.
     
  15. Robert

    Robert Well-Known Member Past Donor

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    From your own supplied report.
    Basic health insurance is compulsory in Switzerland and governed by federal law called LAMal. Insurers must offer basic insurance to all-comers regardless of their health. Anyone failing to insure will have the choice of insurer made for them and receive a bill.

    Swiss healthcare is expensive. In 2018, globally, Switzerland was in second place (12.2% of GDP) behind the United States (16.9% of GDP) on share of national income spent on health. The OECD average was 8.8%.

    In a 2017 comparison the OECD identified Swiss healthcare as the worst value for money. Prices for the same set of goods and services were 39% higher in Switzerland than in the US and nearly double (+93%) the OECD average – see page 34.
     
  16. nopartisanbull

    nopartisanbull Well-Known Member

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    For your info;

    U.S. Average Marketplace Premiums by Metal Tier, 2018-2021

    2021 Average lowest Cost Bronze Premium; $328
    Silver; $436
    Gold; $482

    https://www.kff.org/health-reform/state-indicator/average-marketplace-premiums-by-metal-tier/?currentTimeframe=0&sortModel={"colId":"Location","sort":"asc"}

    ONCE AGAIN;

    Switzerland Compulsory Average Monthly Premiums; USD $343
    https://lenews.ch/2020/09/25/cost-of-health-insurance-to-rise-in-2021-in-switzerland/

    https://www.commonwealthfund.org/international-health-policy-center/countries/switzerland

    AND Switzerland's Compulsory Basic Health Care is a PRIVATE, NON-PROFIT HEALTH INSURANCE EXCHANGES
     
    Last edited: Jun 18, 2021
  17. Daniel Light

    Daniel Light Well-Known Member

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    Aren't you sort of forgetting the rest of living expenses ... people do need to eat, pay rent, insurance even after retirement ...
    just say'n.
     
  18. Robert

    Robert Well-Known Member Past Donor

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    I am curious. Have you bought a home in Switzerland yet where you will reside at?
     
  19. Robert

    Robert Well-Known Member Past Donor

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    Obamacare only helps a tiny amount of citizens. My son wanted to get onto Obamacare and was flatly rejected.
     
  20. nopartisanbull

    nopartisanbull Well-Known Member

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    NO.....I just read an article about Switzerland's PRIVATE, NON-PROFIT Compusory Basic Health Care, and I decided to create a thread, however, I didn't know about their health insurance exchanges, thus, similarities to Obamacare.
     
  21. Robert

    Robert Well-Known Member Past Donor

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    You sound so enthusiastic to live in Switzerland.
    I have never been there but have lived in Germany for around 15 months.
    You will be best off to speak German.
    You will be wise to travel less due to extreme costs of fuels.
    If you like cold weather, it has that.
     
  22. Robert

    Robert Well-Known Member Past Donor

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    It will not help many unless they plan to move to Switzerland. By the way, I doubt it will look much like America of convenient supermarkets and forget cheap motor fuels.
     
  23. FAW

    FAW Well-Known Member Past Donor

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    I am not forgetting anything. Obviously they have other expenses.

    If you were thinking that $180,000 in medical bills meant $180,000 out of pocket, then you were mistaken. That seemed to be your implication, especially because you said "guess who makes up the difference?". I was merely clearing up any possible confusion.

    On top of that...when you say the average retirement saving in this country is $70k, is that for people entering retirement or average for the entire population as they are in the process of saving for retirement? If $70k at age 65 is truly what people on average have saved when entering retirement, without looking it up, I would call that surprisingly little. I would think that number would be off by far more than 100%.
     
    Last edited: Jun 18, 2021
  24. nopartisanbull

    nopartisanbull Well-Known Member

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    Well, let's calculate Minimum Average Assets per Senior at 65

    Homewonership rate; 65%

    10,000 Seniors turning 65 daily, annually; 3.6 million

    Let's assume; 1.8 million married couples X 65%

    = 1.17 million homeowners X average price of a house ($400K), mortgage 60% paid off = 1.17 million X 240K = $280 Billion/3.6 million = $78,000

    Conclusion; Average Total Assets per Senior at 65......Definitely more than $70K

    Average Checking/Saving acounts, + CD's + Mutual Funds + Stocks.......Unknown.
     
  25. nopartisanbull

    nopartisanbull Well-Known Member

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    Quote: You sound so enthusiastic to live in Switzerland

    If I didn't have any kids/Grandkids, I would sell everything, and move to New Zealand.
     

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