"Since
health care represents one-sixth of our economy, I believe it makes
more sense to build on what works and fix what doesn't, rather than try
to build an entirely new system from scratch." Sept. 9
Medicare is a national program in operation since 1965. It provides universal health care for those 65 and older. It faces challenges from the bulge in beneficiaries that don't negate its lower unit costs, lower administrative fees, and high satisfaction rate. Medicare would be even more effective in delivering improved health if seniors were it able to negotiate discounted drug rates with the major drug companies. But Congress outlawed that in 2004. That wasn't mentioned as part of the plan. Why?
In his apparent attempt to preserve the private health insurance industry and to appease the major pharmaceutical companies, the president missed a key lesson from the market place.
When large companies want to save money on employee health costs, they get rid of the private insurance companies. As a result, they save money and often offer more coverage. They save even more money bypassing the built in cost of insurance company profits and excessive CEO compensation.
Medicare is the big company self funded plans writ large. In fact, you could argue that the Medicare approach of direct funding for "the big group" of seniors was the model for self funded big company health plans.
Isn't it time to stand back and reevaluate the entire process?
Isn't it time to say no to more corporate welfare?
How many more bailouts can we take?
END
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