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Health Insurance Innovations Question & Answers

2013 August 5
by Sarah Fields

Daniel asks…

Is Health Insurance Innovation a good insurance company?

I’m scouting for a cheaper health insurance plan and so far Health Insurance Innovation offers a cheaper price. It’s $50/month for pretty basic stuff and it’s $2500 deductible.

Sarah Fields answers:

$50 a month is a scam. Even with a $2500 deductible. You need to read the small print, they are NOT selling you “insurance”.

Donald asks…

Is health insurance responsible for the ridiculous cost of health care in the US?

Since capitolism is based on the concept that competition mixed with supply and demand will motivate compainies to maximize their efficiency and innovation, would it not seem that health insurance, whereby the person receiving the service is not actually required to pay the bill, would prevent hospitals from caring about havign a reasonable price fortheir service, or for operating efficiently? (sorry for the long sentence) Since hospitals are plentiful, would not simple free market economy work with with medicine in the US, and force prices to drop the a reasonable amount that people can actually afford, as it does with food, shelter, and all the other necesities that benefit from the superior free market economy? Could solving the problems of health care in the US be as simple as eliminating all health insurance companies?

Sarah Fields answers:

This is not pure free market. It will be pure free market when:
1) Companies compensate employees for not taking medical insurance. If A and B works the same job in a company and A takes the company paid medical insurance he in theory makes 20% more than B for the same job.
2) I can buy drugs from whereever and when ever I want. I take the risk. Most procedures done in US can be done in India for 10% of the cost. But the risk is mine.
3) FDA remains just an advisory board. They advise and I decide to accept it or not. I think this is the root cause of all the evil.
4) No restriction to opening up a medical school. When the tech boom started there were a million new engineering and quasi engineering schools opened. Where are all the medical schools opening?

Sandra asks…

How will Obama’s voluntary health insurance plan force anyone to do anything?

I hear people talk about how the gvernment health insurance plan will “force” them to only see certain doctors, which is impossible bacause you first have to voluntarially sign up for the plan. Even then, just like EVERY other country with government health care, you can always opt out in favor of private health care.

So how is it forcing anyone to change their health care?

Sarah Fields answers:

(1) Like medicare and medicaid only certain doctors will accept it.

(2) He is going to force everyone to have health insurance.

(3) Even the democrats do not believe that private insurance will be able to survive.

In Places where they have Universal health care health care is not created. Doctors salaries are pushed down and the number of patients they have to treat go up. This means rationing of health care.

The other thing that happens is that the government makes it so that the pharmaceutical companies and other medical research companies can not be compensated for Research and development killing R&D in new technology and treatments. Why do you think that all of the innovations come from here in the US. One reason that our health care is so expensive is because we have to pay for all of the R&D from countries with Universal Health care. That is why you see no innovations coming from them.

Universal Health care is not free. Basically is will cost all of those that all ready prioritize health care and pay for it now weather they can really afford it or not. The Congressional Budget Office said that Obama’s plan will lead to an additional $1.6 TRILLION deficit over the next 10 years and will leave 35Million people without health care.

That means that those that do get health care that do not now will cost on average $60,000+.

Really, and do not let anyone tell you different, anyone in this country can have health insurance if it is their priority. When I graduated from HS I realized that I needed health insurance even though I was completely healthy so i got a job as a bank teller. Anyone can do this and there are plenty of jobs out there. Obviously there were many jobs that I would have rather had, but I prioritized health insurance, and people like me are the ones that will suffer under Obama’s plan.

In this country anyone that prioritizes it can have health insurance and get world class care. Obama is going to take it from those of every income class that have it as a priority and give it to those that simply do not.

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