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My healthcare Plan

Verbannon
Posts: 2
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8/20/2015 4:12:52 PM
Posted: 1 year ago
For years I have had what I thought was the perfect solution for America's healthcare. One that managed to remain distinctly American while being effective.

My idea was to expand Medicare to provide interest free medical loans to people in need with floating payment plans AND that Medicare would negotiate the medical costs for everyone.

In this way there are no tax hikes needed, no socialist type coverage and the needy are taken care of.

See a floating payment plan means the monthly amount of money needed to be repaid lowers and raises automatically with income. If you make $1000 a month then $10 a month, if you are out of work then $0 a month.

And to help nip the hospitals love of overcharging in the bud, Medicare will handle negotiations.

And lastly just to cover the gaps from defaults and stuff, Medicare will offer loans even to higher income people but those loans will come with interest. I'm sure there are no shortage of millionaires that spent all their money on yachts only to have a yachting accident and find themselves in need of a quick loan. And better they take out the loan from Uncle Sam then a bank.

But alas as it seems I'm the only one to have this idea I must assume there is something fatally wrong with it. What is wrong with it?
Zaradi
Posts: 14,125
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8/21/2015 7:39:56 AM
Posted: 1 year ago
At 8/20/2015 4:12:52 PM, Verbannon wrote:
For years I have had what I thought was the perfect solution for America's healthcare. One that managed to remain distinctly American while being effective.

My idea was to expand Medicare to provide interest free medical loans to people in need with floating payment plans AND that Medicare would negotiate the medical costs for everyone.

In this way there are no tax hikes needed, no socialist type coverage and the needy are taken care of.

See a floating payment plan means the monthly amount of money needed to be repaid lowers and raises automatically with income. If you make $1000 a month then $10 a month, if you are out of work then $0 a month.

And to help nip the hospitals love of overcharging in the bud, Medicare will handle negotiations.

And lastly just to cover the gaps from defaults and stuff, Medicare will offer loans even to higher income people but those loans will come with interest. I'm sure there are no shortage of millionaires that spent all their money on yachts only to have a yachting accident and find themselves in need of a quick loan. And better they take out the loan from Uncle Sam then a bank.

But alas as it seems I'm the only one to have this idea I must assume there is something fatally wrong with it. What is wrong with it?

I'm going to start this post with a "I don't know enough about the current system to say if this is a good idea or a bad idea" and say sorry ahead of time. xD

But this post would probably get more attention in either the politics or economics forum. Seems like a decent discussion to be had.
Want to debate? Pick a topic and hit me up! - http://www.debate.org...
Romanii
Posts: 4,855
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8/21/2015 9:13:18 AM
Posted: 1 year ago
At 8/20/2015 4:12:52 PM, Verbannon wrote:
For years I have had what I thought was the perfect solution for America's healthcare. One that managed to remain distinctly American while being effective.

My idea was to expand Medicare to provide interest free medical loans to people in need with floating payment plans AND that Medicare would negotiate the medical costs for everyone.

In this way there are no tax hikes needed, no socialist type coverage and the needy are taken care of.

See a floating payment plan means the monthly amount of money needed to be repaid lowers and raises automatically with income. If you make $1000 a month then $10 a month, if you are out of work then $0 a month.

And to help nip the hospitals love of overcharging in the bud, Medicare will handle negotiations.

And lastly just to cover the gaps from defaults and stuff, Medicare will offer loans even to higher income people but those loans will come with interest. I'm sure there are no shortage of millionaires that spent all their money on yachts only to have a yachting accident and find themselves in need of a quick loan. And better they take out the loan from Uncle Sam then a bank.

But alas as it seems I'm the only one to have this idea I must assume there is something fatally wrong with it. What is wrong with it?

So it seems that the fundamental difference between this and a single-payer system is that rather than relying on taxes for funding, it relies on us paying via monthly installments. However, because the majority of the average person's healthcare expenditures are spent on end-of-life care, many people will die before they can even begin to pay off their most expensive medical loans, and the number of defaults will be *enormous*. It is unlikely that the revenue from interest paid by the rich will come even close to matching that deficit. In other words, the government is going to be forced to reach deep into tax-payer money to pay defaulters' medical bills, and the entire system is eventually going to devolve into single-payer.
Verbannon
Posts: 2
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8/21/2015 8:11:05 PM
Posted: 1 year ago
True, but I was under the impression the government already ends up eating most of the end of life medical bills. As insurance companies only pay part assuming the dying has proper insurance and when they die what isn't paid by life insurance gets eaten either by the hospital which pushes it on to the government either directly or through tax credits. So I don't see that honestly making a difference. Maybe even by having the government negotiate with the hospitals instead of the insurance companies (or nit at all, as per the uninsured), the cost to tax payers will actually reduce some.