Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : A US National Health Care System? -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (7427)	7/8/2009 4:41:54 PM
From: skinowski	Read Replies (1) \| Respond to of 42652

government should be the source of catastrophic coverage... maybe situation where the costs for an 'incident' rise above $20K. I like this idea. With a "deductible" this size the costs would be very low - and yes, most people would avoid getting wiped out due to catastrophic health problems. In fact, insurance companies often do buy such "reinsurance". Many years ago I was involved in running a "total risk" medical group - we would receive funding, and pay all the expenses, including hospital costs. As I recall, we used Lloyds for catastrophic insurance. True, we had a higher "deductible", but still, the cost was just a few dollars a month per person. With the entire population under the "umbrella", the cost to the taxpayer would be low. This idea might work. But our politicos won't go for it. They want to own the action.

To: Road Walker who wrote (7427)	7/8/2009 5:43:14 PM
From: TimF	Read Replies (2) \| Respond to of 42652

With everything over $20k, or esp. if it was as low as $10k covered, and tax advantages for insurance provided through an employer where dropped (so that I would be out of pocket for the full cost), and the regulations driving up insurance cost where not dropped (OTOH I don't think VA is that bad, certainly its no NY in this area) then I might not bother with buying any other insurance (or as some would call it insulation or "insurance" with the quotes). $20k would be very painful but it wouldn't wipe me out (esp. if it doesn't happen right away and I save the insurance premiums for awhile first). The real importance for insurance (at least for me) is avoiding the extreme, not covering most of my medical costs (which are typically very low, much lower than what I've paid for insurance* even with it effectively subsidized) * - "What I paid for insurance" - could be counted as either the amount my paycheck is reduced by not declining coverage, or a larger but less direct and much less certain amount, the amount that my paychecks would likely increase if my company didn't have to bother with medical insurance at all. Then you could get larger but less certain and direct again by factoring in the effective government subsidy. But by any of these measurements I've spent much less on health care (counting not just the out of pocket payments, but all the payments by the insurance company), than the cost of the insurance.