Posted on 08/12/2009 12:55:50 PM PDT by Arguendo
With a projected $1.8 trillion deficit for 2009, several trillions more in deficits projected over the next decade, and with both Medicare and Social Security entitlement spending about to ratchet up several notches over the next 15 years as Baby Boomers become eligible for both, we are rapidly running out of other people’s money. These deficits are simply not sustainable. They are either going to result in unprecedented new taxes and inflation, or they will bankrupt us.
While we clearly need health-care reform, the last thing our country needs is a massive new health-care entitlement that will create hundreds of billions of dollars of new unfunded deficits and move us much closer to a government takeover of our health-care system. Instead, we should be trying to achieve reforms by moving in the opposite direction—toward less government control and more individual empowerment. Here are eight reforms that would greatly lower the cost of health care for everyone:
(Excerpt) Read more at online.wsj.com ...
It must drive libs crazt that they purchase their organic/ vegetarian food from this guy’s food chain **giggle**
Truly. I had no idea he was a libertarian, but this is as reasonable and solidly free-market a proposal on healthcare that I’ve seen. And Mackey is pretty much invulnerable to any accusation he is simply a “greedy capitalist.”
This is something I could live with!!
Personally I don’t shop at “Whole Paycheck” but I agree with their CEO wholeheartedly.
It’s a good article, but neither particularly revolutionary nor specific to Whole Paycheck.
It’s more of a compendium of all the things rational people have been asking for for over a decade.
My own company has already instituted a high-deductible plan with HSA contributions.
The big problem with the Whole Foods approach to healthcare reform is that it doesn’t concentrate money and power in the hands of politicians and bureaucrats.
Agreed. It was a refreshing read. A quick lookie at his wikipedia profile reveals him to be a pretty reasonable guy - FWIW, he and I share the same outlook on unions.
HSA+catastrophic coverage plans (i.e. saving money + traditional insurance) is indeed a good model.
The only real improvement I’d suggest is to impose a premium structure which would enable the following: the money put into the HSA each year still rolls over year over year, but at year N, rolled-over money from year N-2 and earlier year can either
(1) 100% roll over as well; or
(2) 90% roll over, and 10% out as cash
Imbuing money in the HSA with a degree of liquidity would put an additional incentive to shop around for value - and thus put more downward pressure on health costs - without introducing arbitrary market distortions.
The Republicans’ biggest failure may be that they didn't enact something like this when they had the chance. Had they done so, I doubt a fundamental overhaul of the system would even be on the table right now.
(10% without penalty)
Terrific article! Thank you for posting this.
I should have re-posted/replied that it was, indeed, refreshing to see an American CEO standing up and telling it like it is.
I give the guy credit for stating the obvious, when the obvious is not often stated.
Pretty good.
More and more people I know are choosign the HSA plans.
Right now, my family’s medical needs fit the older, lower-deductible and “Flex Spending Account” model, but I think the idea of “insurance” is being re-thought and returned to the original concept.
Especially since he’s in a business where his many of his customers may intentionally boycott his company if they see this...
Great article. I’ve posted these same things multiple times here, as have others, and the GOP should be flooding the airwaves with this. I’ve shopped at Whole Foods for 15+ yrs and am glad to hear Mackey say these things. There is a reason that it consistently ranks as one of the top companies in the country to work for. They also have some of the best pizza in town.
Have you seen the prices in Whole Foods?
I am a devoted fan of Whole Foods and after this, I will go there even more often. I just ignore the liberal magazines and focus on the awesome food.
Whole Foods rocks!!!!!
It’s either raised with chemical fertalizers and pesticides or I’m not eating it!
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