Inflation Reduction Act

[HALL85]

They use it more, so it should be. The way our system is set up is all wrong. Me, as a healthy 30-something, shouldn't be subsidizing them given I go to the doctor once a year for a wellness checkup and maybe one or two other things along the way, knock on wood.

That said, the healthcare industry is one I would blow up completely. I don't believe anyone should pay thousands of dollars for healthcare coverage. I'm more libertarian at heart, but healthcare is one thing I believe should be guaranteed by the government and/or some sort of exclusive fund. One that is bulletproof and can't be raided by other programs. Nobody knows what the future will bring and people shouldn't go bankrupt because they get sick.

Insurance (private or Medicare) is how we pay for healthcare. It’s a tiny part of the cost we are paying. We have an expensive and expansive healthcare system. We as consumers demand it. Nurses in other industrialized countries are not making six figures, and patients are not getting private rooms. Healthcare as a % of GDP in Sweden is 11%…about half of the U.S., and by the way, they pay much higher taxes. My point is that you will continue to pay “thousands of dollars” whether we stay with the status quo or migrate to a more government run model.

That said, our healthcare system could use some disruptive change IMO.

 

[shu09]

Does that work well wherever it's in place?

Does what work well? I'm throwing out an idea for an industry that badly needs reform.

 

[SPK145]

Does what work well? I'm throwing out an idea for an industry that badly needs reform.

But other countries do exactly what you are proposing. Their results are mixed at best. Life expectancies are good but non-life threatening treatments are poor.

 

[sami]

They use it more, so it should be. The way our system is set up is all wrong. Me, as a healthy 30-something, shouldn't be subsidizing them given I go to the doctor once a year for a wellness checkup and maybe one or two other things along the way, knock on wood.

That said, the healthcare industry is one I would blow up completely. I don't believe anyone should pay thousands of dollars for healthcare coverage. I'm more libertarian at heart, but healthcare is one thing I believe should be guaranteed by the government and/or some sort of exclusive fund. One that is bulletproof and can't be raided by other programs. Nobody knows what the future will bring and people shouldn't go bankrupt because they get sick.

On one hand you don't want to subsidize healthcare costs, but on the other you want a dedicated exclusive fund? What part of the bill regarding Medicare do you not agree with?

 

[Merge]

But other countries do exactly what you are proposing. Their results are mixed at best. Life expectancies are good but non-life threatening treatments are poor.

Cultures are too different from country to country to compare honestly. Even where they outperform us with mortality rates, we wouldn't fare much better here because we would also need to adopt their culture.

We wouldn't need to follow any existing model though. We could develop something here that works for us.
I personally think the "Medicare for all who want it" model could do quite well here.

 

[shu09]

On one hand you don't want to subsidize healthcare costs, but on the other you want a dedicated exclusive fund? What part of the bill regarding Medicare do you not agree with?

Correct. Read what I said. I said as the system is set up now, I don't want to be subsidizing others. I pay a lot for my healthcare even though, thankfully, I don't use it much.

I want to revamp the entire system. I think the current system sucks.

 

[HALL85]

Correct. Read what I said. I said as the system is set up now, I don't want to be subsidizing others. I pay a lot for my healthcare even though, thankfully, I don't use it much.

I want to revamp the entire system. I think the current system sucks.

Unfortunately, as I said before, that’s not where the problem lies. The problem is Americans want everything covered under insurance whether it’s from their employer or from Medicare. We also have a much higher cost of healthcare. If you look at most industrialized countries, their insurance coverage doesn’t cover anywhere near what ours does.

Secondly, We also have a much and healthier population than most other industrialized nations. Are mortality rates are bad, not because of the healthcare system, but because of the individual decisions we make in terms of diet and exercise.

it’s anecdotal, but over the past week I have attended a healthcare conference in Stockholm, Sweden and another here and Bethlehem Pennsylvania. Each had about 150 participants. The differences in the food that was served and the level of obesity was striking.

changing insurance coverage is just sweeping the dirt from one end of the room to the other. At the end of the day you still have a filthy room.

 

[shu09]

I do agree American habits have to change, but I'm not sure how feasible that is.

 

[HALL85]

I do agree American habits have to change, but I'm not sure how feasible that is.

Under the current circumstances, not feasible at all.

Have you seen “Dopesick”?

 

[shu09]

No

 

[HALL85]

No

Series on Purdue, oxyi-contin, opioid crisis, and FDA being complicit. Also demonstrates our drug consumption society.

 

[Pirata]

The differences in the food that was served and the level of obesity was striking.

I'll add to that anecdote. I recently travelled through France; large cities, small cities, and rural towns. Walking, bicycles, and public transportation are much more prevalent. Obesity is noticeably lower. Many more age 65+ people walking or riding bikes. Did not see any fat people on sit-down scooters other than American tourists.

We saw the occasional McDonalds (Ugh). Their idea of fast food is generally much healthier and better tasting than ours.

 

[Pirata]

You do know healthcare is far more expensive for those in retirement than those getting it from employers?

For my wife and I with the employer plan, we pay $239 / month (Normally $590 / month but we get a wellness credit for meeting certain health criteria like blood pressure levels, etc)

Medicare will cost us $340 per month with better deductible and co-pays.

 

[Pirata]

Relative to GDP, the US spends the most. Roughly twice that on average of other countries.

We are ranked 35th healthiest by the Bloomberg's analysis of WHO data.

it's a demand and consumption problem, not a supply issue.

 

[sami]

For my wife and I with the employer plan, we pay $239 / month (Normally $590 / month but we get a wellness credit for meeting certain health criteria like blood pressure levels, etc)

Medicare will cost us $340 per month with better deductible and co-pays.

Not only changes in premiums and other expenses, but the propensity to hit annual maximums and other ancillary costs will rise. Prescriptions, procedures, potentially other care elements in the home and/or a facility.

Healthcare is the largest % expense for most retirees, which is also helped by the drop in other expenses like housing costs, commuting costs and other work-related expenses.

 

[HALL85]

Not only changes in premiums and other expenses, but the propensity to hit annual maximums and other ancillary costs will rise. Prescriptions, procedures, potentially other care elements in the home and/or a facility.

Healthcare is the largest % expense for most retirees, which is also helped by the drop in other expenses like housing costs, commuting costs and other work-related expenses.

I would expect healthcare costs to grow in the high single digits in the next 3-5 years. Wage adjustments are going to be the primary drivers, but supply chain redundancies, long term changes to procedures in dealing with the virus, etc. A lot of that has been camouflaged the past two years with all of the stimulus money hospitals received. Now those costs are going to work their way through the chain to insurers and eventually the consumer. Something has to give.

 

[SPK145]

This is funny.

California asks residents not to charge electric vehicles, days after announcing gas car ban

CALIFORNIA (WTVO) — With California’s power grid under strain due to extreme heat and high demand, the utility grid operator is asking residents to avoid charging their electric vehicles. Thi…

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