Thursday, May 26, 2011

Who do you trust more the health insurance industry or the government?

Explain why you trust one as opposed to the other. Both are obligated to provide a duty of care under their respective systems but have dubious reputations. Discuss.
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I sell medical insurance overseas. I am also from Canada. To clear things up, the government does not run Canada's medical system. Obama's system would not be run by the government either. Canada's system is run by doctors. Doctors treat you, doctors run the hospitals, doctors sit on the regional boards that make the decisions about policy and funding for different areas / provinces and doctors run the whole show right up until you hit the health minister. At that point, the government is in control. The only real decision the minister makes though is how much funding they give for the year. The amount given depends greatly on the reports by the doctors about how much they need to run things across the country smoothly. Obama's plan would be run by insurance companies. I don't know how it even became commonly thought it wouldn't be. The Obama plan is nothing more than more laws regulating the insurance industry. He supposedly wanted to force insurers to create a "public plan" meaning an affordable plan with stipulations like no pre-existing conditions. The real plan is about propping up failed insurers that squandered their money, but I digress. Which would you prefer? Doctors or people like me? My company takes about 15 to 20% of your annual premium, the insurer takes another 30 to 50% + bonuses if it's a low claims year for the company. That can leave you paying 70% of your premium to people who don't have anything to do with making you better. I do sell insurance were I am, it's my livelihood, and it's a good one, but if the world put it to a vote, I'd vote myself out of a job. PS., Canada spends only 10% of GDP on healthcare, the US spends 16%. That 6% difference represents $800,000,000,000 a year for the US and people still have to purchase their insurance! Save $800 billion and have doctors in charge or your healthcare? It's a no-brainer. Unfortunately for Americans, that is not one of the options on the table.
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