Maybe it's time to pull the plug on health insurance

CNBC ^ | August 4, 2017 | Jake Novak

[2ndDivisionVet]

There's nothing like the sight of Republicans and Democrats working together and scrambling to save big time government aid to super-rich corporations. Whether it's a bailout for major banks, tax credits for Big Oil, or big subsidies for large agriculture businesses, this kind of crony capitalism seems to anger almost everyone but nobody really does anything about it.

Now, we're about to witness another scramble to provide our hard-earned taxpayer money into the pockets of an industry that's already raking in the big bucks. The Senate Health Committee is going to hold hearings in September to find ways to keep the Obamacare subsidies sent to health insurance companies alive so the insurance exchanges don't implode as so many people are predicting.

And the preservation of those payouts to the super-profitable insurers is a pretty good bet considering even the Republicans couldn't round up 50 votes to repeal Obamacare and do what they had promised for seven years running. It's also a good bet because the pressure is rising to save Obamacare from all sides. There's even a warning from some liberal advocates not to dare call the insurance subsidy preservation effort a "bailout" because it's such a loaded term and it's the people we'll be bailing out and not some rich CEOs after all, right?

Whatever happened to those familiar Democratic Party mantras of "paying their fair share" and "those millionaires and billionaires don't need our money!" Whatever happened to familiar quasi-socialist/left wing calls for price controls? We certainly hear all of the above when it comes to Big Pharma for one thing. And why is the insurance industry getting not just a pass, but an enthusiastic, code red style, protection? In other words, the government has provided the big insurance companies with a policy that's led to massive profits.....

[Zeneta]

FWIW.

I haven’t paid for “Health Insurance” since 1996.

And, I only did so prior because my wife at the time demanded “we be covered”.

Personally, I don’t think doctors are as smart as we are told. After all, most are still just “Practicing Medicine”.

I avoid all pharmaceuticals with an exception to antibiotics when I have an infection, which is rare. Penicillin works just fine and it’s stupid that I need to pay some Bozo Doctor to give me a prescription.

It’s even more retarded to think that I’m supposed to accept the bullshit from our government that basically says I’m too stupid to know what’s best for me.

[Trillian]

Ping

[BBB333]

It’s NOT insurance.

Every state has a regulatory board/entity FOR insurance.

IF this was insurance, it would HAVE to be regulated.

The disclaimer is there to dispose of the regulators...

FWIW: My plan has a monthly newsletter that has a section for ‘additional needs’ - needs that are outside of the ‘sharing group’ (often a new member with a preexisting condition or a member who did not opt for the unlimited plan - $20 per month extra - or an expensive ambulance ride).

Last December the group sent out an email which stated that if every member gave $25 extra this month (one time deal) ALL of the additional needs would be met. We gave our contribution and in February the newsletter posted that all additional needs had been met and included a thank you to the members.

It’s NOT insurance but it does seem to work.

[Sequoyah101]

How often does that happen?

Are the rates negotiated with the providers or are you on your own to try to arrive at an “acceptable” price for services?

[DennisR]

Yeah...like that!

[MV=PY]

BBB333, thanks very much for the insight.

It’s an interesting approach. It relies on group charity and requires an element of faith (not in religion, but in other members) to make it work.

A member contributes when asked in the hope that others will rise to the occasion when the member needs it.

The monthly payment probably shakes out a lot of deadbeats.

But no guarantees.

[who_would_fardels_bear]

I would not disallow, and would most likely encourage, health savings accounts and health pools, i.e. groups that pool money together to pay directly for health costs.

Also, if there are charitable organizations willing to help people pay their medical expenses or pay off their loans, then that's fine as well. Just so long as medical costs are paid for directly and non-governmental loans, cost-sharing, etc. is kept between the patient and his benefactors.