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Healthcare Insurance solution for Dummies

June 29, 2017

Ok, so I’m not an insurance expert.  But with a little thought, I’ve come up with the following suggested solution.

First, let’s all accept that government at any level has one main goal – to protect the rights, property and lives of citizens.  The government should have no role in providing healthcare or healthcare solutions.

However, I feel that government entities, especially at the local level like towns, cities, counties, can be the conduits to bring lower cost, more accessible health care insurance to citizens.

Most all governments are “groups” that offer insurance to their employees as a benefit of employment.  That would not change.  However, that government entity could also become a larger insurance group by allowing residents to sign up for insurance as part of the group. This would be open to residents who do not get their insurance through their employers (also self-employed) to up when they turn 65 and would be eligible for Medicare.  Joining the group would be optional.  The insurance company would handle all of the sales and administration, and the government entity may only be needed to verify residency.  Individuals can sign up for a myriad of different types of insurance that suits their needs, including low cost, high deductable catastrophic hospital insurance so that one does not go bankrupt.

On the whole, the more people who make up an insurance group, the lower the premium costs and the more spread out the risk.  People with diagnosed conditions would be able to join the group, but they may have to be in a sub-group that pays slightly higher premiums.

Insurance companies would benefit from being able to sign up more people, and they could offer reasonable variety of plans without government intervention. A government entity such as a town, could over time make the insurance option a positive benefit of being a resident.  Having a low cost, great health insurance group would be as much of a draw as say having a great school district would.  Groups would not be “one size fits all” in terms of individual elements.  Each town and entity could tailor group plans to fit their residents and regional needs.  Insurance companies would compete to represent and sell to the best “groups” in terms of risk and payout costs.

Again, I’m not an insurance genius, but with some calm and collected thought, I’m sure the health insurance industry can provide for all without having government drive the bus.

 

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