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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Jim McMannis who wrote (15210)11/9/2004 10:21:25 AM
From: Elroy Jetson  Read Replies (1) of 116555
 
A privatized Social Security that doesn't follow the Australian model creates problems similar to those who do not maintain health insurance and automobile insurance.

If they don't experience any large losses, they gain by not paying premiums.

If they experience a large loss, the cost is placed onto society at large.

Heads I win, tails you all lose.

Another example is Switzerland which has private health insurance rather than nationalized health care.

Private health insurance is mandatory in Switzerland under pain of fines and imprisonment. Those who truly can demonstrate the liquid assets to go without insurance can do so. Although many qualify, few think this is reasonable. More than 99% of the Swiss are insured under private medical insurance plans.

switzerland.isyours.com

As a consequence their premiums are at least 50% less costly than in America. In America, those with health insurance indirectly pay for the care of the uninsured.

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