Never in American History has it been
such a big deal to "have" health insurance. But is
it really a crisis or just something most people
expect someone else to do for them?
Whenever
an election is approaching, politicians talk about
America's "looming health care crisis" as
if they actually plan to do something about it if
and when they are elected. Well guess what...they've
gone and done something and nearly 60% of Americans
are outraged over the complexity and extent of what
appears to be a Government take over instead of real
reform.
Who
Provides Health Insurance?
The Government
Federal, state and local governments insure 39 million
workers (including military), 39 million Medicare
recipients (a number destined to increase as the first
baby-boomers turn 65), and 41 million on Medicaid.
Of course, governments do not generate any revenue
themselves. It all comes from one place: taxpayers.
With an average of 7 health insurance and pharmaceutical
lobbyists for each Congressman, it's easy to understand
why legislators drag their feet when it comes to
health care reformfor their constituents. Anyway, they
all get free health insurance for life. They're probably
saying...
SO..."What's the big deal"
Employers
Employers offer health insurance to 120 million
Americans. Those who choose to accept the insurance
have hundreds of dollars a month deducted from their
paychecks as their share of the premium their employers
pay to health insurance providers. In 2005, the average
worker paid over $2700 for his or her share of group
insurance provided through an employer. That doesn't
include annual deductibles and co-pays for visits
to doctors, prescriptions, hospital stays, surgeries,
and so forth. The National Coalition on Health Care
reports that employee's insurance premiums increased
by 73% from 2000-2005. Compare that to a cumulative
inflation rate over the same period of 14%, and a
cumulative wage boost of 15%. Obviously, that 1% difference
doesn't come anywhere near meeting the 73% premium
increase. Any uneducated bystander could easily see
insurance is the problem where run away costs are
concerned but the entire Health Care Industry gets
the bad rap.
Of
course, the employers' share of premiums is increasing
too. In fact, the NCHC web site relates this troubling
information: "Health insurance expenses are the
fastest-growing cost component for employers. Unless
something changes dramatically, health insurance costs
will overtake profits by 2008." Since the whole
point of being in business is to make a profit, employers
have some choices: (1) pass part of the additional
premium on to employees; (2) pay new employees less
and give smaller raises to others; (3) charge more
for their products and services, and/or (4) stop
offering employees health insurance all together.
Now the employer portion of the benefits will be
added to the taxable income of every employee and
effectively taxing it as income. This is what health
care reform looks like for working Americans.
Even
if you get your insurance through an employer, you
have to be very careful that you read and understand
the fine print. Don't see a doctor without prior authorization.
Don't see one out of the "network" without
expecting to pay a good portion of the doctor's fee
yourself. Do you need to go to a hospital? Let's hope
you're conscious and thinking straight, because you
may need to call the health insurance company from
the car or the ambulance to get their OK. We've all
heard the horror stories of people who rushed someone
to the "wrong" hospital in an emergency
and were denied coverage by the insurance company
because it didn't have "an agreement" with
that particular hospital. After reviewing the new
legislation many employers are considering the option
of dropping their employees benefits entirely since
paying the $2,000/employee penalty would be much less
costly than the cost of providing the level of benefits
their employees presently receive.
What
about "the uninsured"?
You might be thinking there must be "some program"
to help the uninsured. The fact is that if you have
an income, you don't qualify for a "program."
Even if you're a single mom making only minimum wage,
you can't qualify for Medicaid. People without insurance
who do see a doctor often can't fill their prescriptions,
or they take less than the amount prescribed. When
they get sick, they simply hope to get better, and
often the condition spirals into something more serious
and more expensive to treat. That's where the emergency
room comes in. The costs for the slightest problem
are mind-boggling-over a thousand dollars to stitch
up a cut, for instance. The hospital will try to collect.
If you can't pay, your credit rating could be affected.
In
October of 2006, over 46 million Americans had no
health insurance. Eighty percent of these are working
people and their dependents. Some work for an employer
who offers no insurance plan, or they make so little
they cannot afford to buy into the program. Many are
self-employed, and feel they simply cannot afford
the unreasonably high premiums for individual insurance,
or they have pre-existing conditions and the only
policies they can get exclude those.
What
You Can Do
1. Make a Choice.
The
health insurance crisis is a real and growing problem.
You can choose to believe that the government or your
employer will cover increasing costs or not hit you
too hard for your share of the premium, or you can
choose to go uninsured and hope that you and your
family will stay well. It is not an issue where you
can take an ostrich attitude and put your head in
the sand. You need to make a choice because its safe
to say that real health care reform
starts and ends with you.
2.
Set Up an Emergency Account
Many uninsured workers have made the choice to take
control of the problem themselves by setting up their
own medical savings accounts. Instead of paying $600-$1200
a month in individual-policy insurance premiums, they
choose to deposit the money in an interest-bearing
account, CD, or other "sure money" account.
The funds are their own, whether they are needed or
not.
3.
Find a Way to Fund It
If you decide to set up a medical savings account,
you'll want to deposit as much money as you can as
quickly as possible so it can go to work for you making
interest. Even if you work for an outside employer
and have group health insurance, that extra money
in your medical savings account will give you the
security of knowing that you'll be able to meet deductibles,
co-pays, and other expenses your policy deems "not
covered." Many have discovered that a great way
to do this is to open a home based business. You can
work your own hours and be your own boss as you accumulate
your medical-savings nest egg. You just may find that
you can also open another account-one you might label
"things we've always wanted" or "savings
for trips." A home-based business may very well
be your personal answer to the health care reform.
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