Daily News Updates - Health Insurance News

Critical Choices:  McCain vs. Obama, Pt.3 –- Private vs. employer– health insurance.

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So Obama’s question is, shouldn’t we build plans where the employer “provides so many of us with generous defined benefit health insurance plans that the employer continues to pay most of the cost of no matter how expensive they are?” McCain’s question is shouldn’t we lose the employee health insurance model in favor of one where those who are ‘conservative’ with their money and have the best investment acumen can shop around (namely, the wealthy) and get the best deal? No one wants to rely on the generosity of an employer or anyone else. Private health insurance is the only way to go. Since private health insurance has always been available, yet the crises still continues to worsen, it seems a little presumptive to expect better results by making it mandatory. I believe the presumption is that the 73 million Americans now (48 million ‘uninsured’ and the 25 million ‘underinsured’ will somehow sharpen their investment acumen considerably and buy only the best deals in the open market, much like a person would trade stock on Wall St. As to those without that acumen (probably most of the 75 million), McCain’s disposition has not made clear yet.

Liberals (those who are liberal with their sharing) agree that large risk pools are the way to go. By spreading the risk, those who are young pay more while they’re young, but expect to be able to recapture their generosity when they are old. It also keeps unscrupulous insurance providers from nailing them when they get old and sickly. This keeps the cost within everyone’s reach and has given us security through all these years. Right now, it’s the favored model for the vast majority. Most believe that having this taken away will push people “to fend for themselves, consumers will be subject to the vagaries of the market that include underwriting and health insurance premiums in the thousands of dollars.”

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