Private Health Care, more expensive than I thought

Yes, government did contribute to the creation and testing of these vaccines and ensuring they could be rolled out in volume.

I'm not sure why you would suggest that wasn't a really good thing for our government to do.

Why would you want that effort to have been slower, given the human and economic losses being suffered?

 

And they're killing thousands of people now. Brilliant. Thanks, government!!

 

It definitely is not creating competition between health care providers, but I am not so sure that is that big of a problem.

What has happened with skyrocketing healthcare costs is that our technological advances in medicine have exceeded our ability to pay for those advancements, especially in regards to end of life care. We can stifle this spending if we so choose, but in the process we will also stifle future innovation. It is a catch 22.

 

What about this;

The Federal Employees Health Benefits (FEHB) Program

$60 billion/8 million = $7,500 per enrollee

https://www.opm.gov/about-us/budget-performance/performance/2020-agency-financial-report.pdf

https://www.opm.gov/healthcare-insurance/healthcare/reference-materials/fehb-handbook/

I doubled check their 2020 group plan's GROSS COST, and it amounted to $59 Billion, average cost per insured, $7,500. I haven't studied their full package, both employees and retireees, however, I'm guessing most Fed Retirees/Seniors haven't switched to Medicare.

At an average cost of $7,500 per insured, that's the cost of several foreign SINGLE-PAYERS per capita.

 

Anything with the government solely in charge will be a wasteful, fraudulent cluster. See Sweden for a better option.

 

Thanks. My concern is maybe arcane but the devil is in the details, and as you and many others know precise analysis of medical costs is a long row to hoe. First the dollars spent by CMS is only a part (albeit a large part) of Medicare expenditures as much of the spending comes out of other agencies and a different (hidden) budget. Secondly, Medicare Part A has a noticeable deductible/co-pay that is not shown in CMS spending. Thirdly Medicare Part B pays only 80% of the costs of covered services which means the consumer pays 20 % of the covered services plus the deductible or 100% of the uncovered services which should be added to the total cost. The patient can buy Medicare Supplement insurance which for a hefty premium (more added costs) covers the 20% missing from Medicare-B for covered services. The uncovered services can be significant added expenditures in some circumstances. Et cetera.

The first point is a major problem when comparing government paid health services against private coverage as governments are notorious for hiding much of the cost; private insurers cannot do that.

As an aside, the success of Medicare Advantage is despite Obama's plan to scuttle Medicare Advantage with Obamacare. ACA was designed to make Advantage untenable starting Jan 1, 2013 until Obama was told that the Advantage participants had to be told about it prior to the 2012 election so he quickly, and illegally, changed the plan..

 

I've never seen anything from any legitimate source claiming that COVID vaccines are doing that.

 

I agree that our medical technology is getting more expensive by its very nature. The next medical solution always seems to be more complex, to require specialized equipment, more training, etc.

And, that certainly does drive up the cost of healthcare, as insurance companies have to spread the cost over their customer base.

We're not good at conce[pts like a rational dollar value for another month of survival.

 

Agreed, but nobody or very few are concerned with rational dollar value when it comes to clinging to hope for THEIR loved one.

 

According to CMS, in 2020, Total Health Care Spending amounted to $4 trillion

HOWEVER, in reference to the Military Health System/Tricare; UNKNOWN Labor Cost......

''The MHS has a $50+ billion budget and serves approximately 9.5 million beneficiaries.[4] The actual cost of having a government-run health care system for the military is higher because the wages and benefits paid for military personnel who work for the MHS and the retirees who formerly worked for it, is not included in the budget. The MHS employs more than 144,217 in 51 hospitals, 424 clinics, 248 dental clinics and 251 veterinary facilities across the nation and around the world, as well as in contingency and combat-theater operations worldwide''

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

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

NOTE; In reference to PRIVATE Entity Health Care, their Gross/Net Cost are EXACT cost.

 

Private healthcare was screwed up and became far more expensive when the federal government got involved. I saw a 300% increase in cost. This is just tax so we're not talking about private it was Private it would be private and it wouldn't have increased 300%.

 

Quote: Become far more expensive when federal government got involved?

Question: How federal got involved? Reason my asking;

The Swiss have a HIGHLY REGULATED, ALL PRIVATE Health care system, and in 2018, their cost per capita;

USA; $10,624 per capita

Switz; $9,871 per capita

https://www.macrotrends.net/countries/CHE/switzerland/healthcare-spending

 

Seems credible.

 

We don't have a health care system/program which PROPORTIONALLY includes everyone.

Proportionally meaning; Less than 5% of Seniors have kept their employer's health care plan, and Seniors represent 19% of the population.

We basically have:

Obamacare
Medicaid Advantage
Traditional Advantage
Senior Prescription Drug, (Medicare Part D)
CHIP
VA Healths
Tricare
Fed/State/Local Health Care
Private Non-Group
Private Group

AND due to diversites and complexities, we have to look outside our borders to figure out a FOR ALL COST.

 

the ironically named affordable Care act.

Duh

 

Absolutely.

I think that extends to less catastrophic outcomes, too.

Capitalism is based on making choices. But, one can't trade off ability to work or enjoy life for a TV or whatever. There just isn't any comparison between the requirements for a working, functioning life and other choices the individual or family might make.

Today, we have people who face choosing between medicine and food. While that qualifies as capitalism, it's far from what we can accomplish as a civilization - as other countries demonstrate.

 

For your info, the ALL PRIVATE Swiss health care system has;

a. a business/individual MANDATE

b. a non-profit PRIVATE insurance marketplaces/health care exchanges

However, NO Medicaid Expansion

Thus, please explain how the Federal Government increased the cost of PRIVATE HEALTH CARE by 300%?

Also, next time, quote my entire post.

 

Everyone is automatically enrolled in Medicare A and B, so an employer's plan becomes moot and meaningless.

 

I'm not sure what you mean by seniors keeping their employer's health care plan. I don't know of corporations who allow that for retired employees.

We do try to solve our healthcare distribution problem by having numerous governmental agencies trying to help people in various circumstances. But, that still leaves holes and suboptimizations while incurring significant administratioon costs.

Besides the massive overlapping nature of these programs, they each have to qualify their applicants, which is not a one time event, as client circumstances change. In a single payer system, that kind of qualification and overlapping of programs is seriously reduced. Also, it causes less work on the part of providers, as providers don't have to follow the varying restrictions of numerous insurance companies and programs.

I don't see Medicare on your list. Surely that's the largest program we have for seniors.

Also, I believe we use tax advantages to encourage providers to do pro bono work. Obviously, we are all paying for that, too.

 

What I tried to explain (got mixed up).......

Unlike Car insurance, Private-sponsored Health Care does not have a FOR ALL risk pool. In fact, proportionally, there are no FOR ALL health care system/programs/risk pool in the U.S.

WHEREAS, many foreign countries have at least a Medicare Part A and B ''FOR ALL''.

 

government mandates equal not private.

you have to first understand how insurance companies make money and it's not collecting premiums. It's investing money collected through premiums over years. The ironically labeled affordable Care act decided to place a tax on money earned through this investing. This the person paying the premiums pays the taxes. Hence increases in premiums.

It wasn't about making health care affordable it was about stealing more from the tax payer.

Next time make sure you're entire post is worth quoting.

 

Based on the following comparison, you have some explanation to do.

Fact, Afordable Care Act signed by Obama March 2010

U.S. Health care spending per capita, BEFORE and AFTER Afordable Care Act

2010; $7,930
2018; $10,624........A 34% increase over 8 years

2002; $5,332
2009; $7,681..........A 44% increase over 8 years

Question; Did the Afordable Care Act lowered Health Care Spending Per Capita by 10% over 8 years.

https://www.macrotrends.net/countries/USA/united-states/healthcare-spending

 

It was also very much about putting the federal government in control of personal health and medical treatment.

 

Do you have an explanation for this.......

Fact, Afordable Care Act signed by Obama March 2010

U.S. Health care spending per capita, BEFORE and AFTER Afordable Care Act

2010; $7,930
2018; $10,624........A 34% increase over 8 years

2002; $5,332
2009; $7,681..........A 44% increase over 8 years

Question; Did the Afordable Care Act lowered Health Care Spending Per Capita by 10% over 8 years.

https://www.macrotrends.net/countries/USA/united-states/healthcare-spending

In addition, the following Key Findings;

How Much More Than Medicare Do Private Insurers Pay? A Review of the Literature

• Private insurers paid nearly double Medicare rates for all hospital services (199% of Medicare rates, on average), ranging from 141% to 259% of Medicare rates across the reviewed studies.
• The difference between private and Medicare rates was greater for outpatient than inpatient hospital services, which averaged 264% and 189% of Medicare rates overall, respectively.
• For physician services, private insurance paid 143% of Medicare rates, on average, ranging from 118% to 179% of Medicare rates across studies.

https://www.kff.org/medicare/issue-...vate-insurers-pay-a-review-of-the-literature/

 

Why would anybody think that for profit health insurance would cost less overall than collective not for profit health insurance?

If you add a for profit middleman insurance industry then of course it will cost more overall. And you also get a system with a profit motive to deny care where needed and to overlook preventative care.