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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Little Joe who wrote (89329)10/27/2008 8:25:37 PM
From: Elroy Jetson  Read Replies (1) of 116555
 
I like the Australian health system which covers everyone under Medicare and also provides private health insurance for those who prefer to pay a premium.

Under this system, the private insurance firms provide payments to supplement the CentreLink medicare payments. As a result, insurance of roughly $1,000 per year provides perks like private office visits, coverage for not strictly medically-necessary care, coverage for treatments not covered by CentreLink . . . and generally the first class treatment.

Having used them all, my experience of Australian medical care is comparable to better than having a Blue Cross PPO type of policy in America. Care with private health insurance in Australia is better than the most generous employer provided plan I have ever had.

What makes Australian medicare better than Canada and far better than the UK? Obviously the level of funding. The option of a private health insurance supplement provides a comparison standard which makes it difficult for the medicare-only system to lag too far behind.

An alternate system is Switzerland which requires mandatory private health coverage with jail sentences for failing to pay your premiums. The premiums are subsidized in certain situations, but the insurance is still mandatory.
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