You are viewing it from the perspective of what we’ve had so far. I’m talking about a pre-WWII type of system where employers can offer all sorts of things, but health insurance is not one of them.
It is expensive now, you bet. But if the only people purchasing it are the ones using it, prices would fall quickly. You would not believe how cheap health care is to those of us that don’t use insurance. And in a world where insurance companies also paid those prices, insurance would be a lot cheaper.
And keep in mind, I called the idea fascist on purpose. I would never really support a law preventing insurance companies from offering health care as part of their incentive package. I’m pointing out the old axiom, “if you want something to be expensive, just make sure the person using it is not the person paying for it.”
If health insurance was paid for like car insurance, it would be a LOT cheaper. One reason I have not even mentioned is that there could be a lot of customized plans. How about “stroke and cancer only” insurance? That means you pay for broken bone resetting, which is pretty darned cheap anyway.
I believe we would see huge deflation in the price of everything related specifically to health care. Equipment prices, services prices, etc.
But I’m only dreaming. However, not having health insurance, I’m living that dream. When I get health care it is VERY cheap and good. And, frankly, Google has made General Practitioners almost obsolete. I self diagnosed my gout as well as found a cure in ten minutes of Google time AFTER my doctor couldn’t figure out what was causing my incredibly painful and red big toe.
That was the last time I saw a GP and just use google to fix all sorts of stuff.
A slippery slope. If the government can tell private business how it may compensate its employees then where does it end. Can the government say that it must pay different genders the exact same salary? How about limits on executive compensation. Are you OK with those?
But if the only people purchasing it are the ones using it, prices would fall quickly.
The exact opposite will occur. If only sick people buy health insurance then the costs to the insurance company goes through the roof. Everyone is filing claim after claim and money is going out the door to doctors and hospitals faster than it's coming in. What you propose would bankrupt insurance companies not cause them to drop their premiums.
If health insurance was paid for like car insurance, it would be a LOT cheaper.
Apples and oranges. If I total my car the insurance company is out $30,000. If I get cancer the bills could run into the hundreds of thousands.
I believe we would see huge deflation in the price of everything related specifically to health care. Equipment prices, services prices, etc.
I'm sorry but that is wildly optimistic thinking. GE will continue to charge the same for MRIs. Doctors will continue to want to maintain their income. Hospitals will still want to make a profit.