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I believe the discussion of the “fix” for Healthcare as who has insurance and who doesn’t is wrong. Same with co-insurance or no co-insurance. The fundamental

I believe the discussion of the “fix” for Healthcare as who has insurance and who doesn’t is wrong. Same with co-insurance or no co-insurance. The fundamentals is that as a society we are getting older and sicker. Insurance fundamentally is about cost and risk sharing. The young are paying into a system that is mostly used by the old. That is unsustainable. In a private market, we are seeing doctors refusing to join certain insurance plans. And some insurance plans dropping certain coverages or pulling out of some markets. I believe the fundamental fix for an aging sicker society is more healthcare and more affordable healthcare. Train more doctors, nurses, pharmacists and other healthcare providers. We need to increase supply to catch up with demand.

atahanacar 2y ago
>The young are paying into a system that is mostly used by the old. Another perspective: the young are paying into a system that they will mostly use when they are old. The old are using a system they paid into when they were young.
- FireBeyond 2y ago
  The old didn't get charged $850 for a stiff ankle boot that costs $45 online. Or $5,000 for a couple of hours in the ER.
- musicale 2y ago
  Unfortunately health care costs are continuously increasing, probably faster than investment returns.
FireBeyond 2y ago
> Insurance fundamentally is about cost and risk sharing. Health insurance is not insurance and the sooner we stop thinking that way, the better. Why so? Let's compare. You have car insurance - you're in an accident, your car is totaled. Insurer decides the fair market value for your car is $25K and for the sake of argument we'll say that's accurate and reasonable and acceptable. Great, they're going to send you a check for $25K, right? Hold up. You have a $1,000 deductible. So now your check is only $24,000. Okay, sure, you knew there was a deductible. Now they're talking about your $2,000 co-pay? Your check is only going to be $22,000 now! Bah, that sucks, but okay. What's this? "Your contribution towards the value of your vehicle, your co-insurance, is 20%, which is $5,000. We have deducted this from your check." So now your check is only $17,000. This is why healthcare "insurance" is not insurance.
- gklitz 2y ago
  You forgot the part where cars list price is 400% as much as the cost the insurance actually pays to get you the new car, making it near impossible for normal people to buy a car outside of the insurance system.
  - xscott 2y ago
    And the part where you only see the list price after you've purchased so you can't shop prices from different provides. And the part where your insurance decides who your allowed providers are. Can you imagine totaling your car, and the insurance company says, "Sure we'll pay out, but only if you buy your new car from Hyundai."
trod123 2y ago
> I believe the discussion of the "fix" for Healthcare as who has insurance and who doesn't is wrong ... I agree. I'd go so far as to say its evil, and the banality of evil that results in discussions surrounding this topic seems to be fairly delusional, which is rather unfortunate. Thomas Paine had quite a lot to say about "dead men ruling", and that applies to any system where those supporting it are treated no better than slaves. The problem with healthcare is there is currently no market for it. The market that is claimed today is in fact no real market because it is supported wholesale by the government. For a market to exist, you must have competition, and that means you do not cooperate with your competitors. This necessarily requires there to be many competitors (not few) to the point where cooperation becomes impossible. Any centralized system fails because of only a few archetypal failures. Mises covers these failures in his works on Socialism (1930s). So long as there is no market, there can be no solution. It fails completely in 6 different common ways if its a modern central heirarchy, and if its one of any number of sub-niches it may fail in more ways than that. The solution is dependent on incentives, and there can be no real incentive as long as there is free money on the table conjured up by the printing press in the form of preferential loans. Money printing destroys markets slowly over time until they collapse to non-market socialism. This is seen as a sieving action of consolidation over time, its ruinous, and its been happening for well over 50 years now unmitigated. The final leg of the ponzi will occur when outflows>inflows or debt growth exceeds GDP. The fundamental fix isn't a supply side issue. Its a regulatory/corruption issue tamping down any potential market. Also is it even right as a society to allow medical technology that enables one oldest generation to horde all the resources, and as a result out-compete the young with regards to those resources; to the point where the young cannot secure a future and stop having children? The old will age and die regardless. The birth rate is now plummeting because the old have enacted systemic changes and refused to yield their political power to the next generation which should have happened in 2000. People die of old age, there is no escape. Its morally wrong to impose wage slavery on the young by virtue that you spawned them, without representation or consent. The problem itself will resolve in a few years when the great dying starts happening. The folly and banality of evil, of the boomer generation will be one for the history books. How does the saying go, one bad generation is all it takes for society to fall to ruin and destruction? We're living through the proof of that saying.

atahanacar 2y ago

>The young are paying into a system that is mostly used by the old. Another perspective: the young are paying into a system that they will mostly use when they are old. The old are using a system they paid into when they were young.

FireBeyond 2y ago
The old didn't get charged $850 for a stiff ankle boot that costs $45 online. Or $5,000 for a couple of hours in the ER.
musicale 2y ago
Unfortunately health care costs are continuously increasing, probably faster than investment returns.

FireBeyond 2y ago

> Insurance fundamentally is about cost and risk sharing. Health insurance is not insurance and the sooner we stop thinking that way, the better. Why so? Let's compare. You have car insurance - you're in an accident, your car is totaled. Insurer decides the fair market value for your car is $25K and for the sake of argument we'll say that's accurate and reasonable and acceptable. Great, they're going to send you a check for $25K, right? Hold up. You have a $1,000 deductible. So now your check is only $24,000. Okay, sure, you knew there was a deductible. Now they're talking about your $2,000 co-pay? Your check is only going to be $22,000 now! Bah, that sucks, but okay. What's this? "Your contribution towards the value of your vehicle, your co-insurance, is 20%, which is $5,000. We have deducted this from your check." So now your check is only $17,000. This is why healthcare "insurance" is not insurance.

gklitz 2y ago
You forgot the part where cars list price is 400% as much as the cost the insurance actually pays to get you the new car, making it near impossible for normal people to buy a car outside of the insurance system.
- xscott 2y ago
  And the part where you only see the list price after you've purchased so you can't shop prices from different provides. And the part where your insurance decides who your allowed providers are. Can you imagine totaling your car, and the insurance company says, "Sure we'll pay out, but only if you buy your new car from Hyundai."

trod123 2y ago

> I believe the discussion of the "fix" for Healthcare as who has insurance and who doesn't is wrong ... I agree. I'd go so far as to say its evil, and the banality of evil that results in discussions surrounding this topic seems to be fairly delusional, which is rather unfortunate. Thomas Paine had quite a lot to say about "dead men ruling", and that applies to any system where those supporting it are treated no better than slaves. The problem with healthcare is there is currently no market for it. The market that is claimed today is in fact no real market because it is supported wholesale by the government. For a market to exist, you must have competition, and that means you do not cooperate with your competitors. This necessarily requires there to be many competitors (not few) to the point where cooperation becomes impossible. Any centralized system fails because of only a few archetypal failures. Mises covers these failures in his works on Socialism (1930s). So long as there is no market, there can be no solution. It fails completely in 6 different common ways if its a modern central heirarchy, and if its one of any number of sub-niches it may fail in more ways than that. The solution is dependent on incentives, and there can be no real incentive as long as there is free money on the table conjured up by the printing press in the form of preferential loans. Money printing destroys markets slowly over time until they collapse to non-market socialism. This is seen as a sieving action of consolidation over time, its ruinous, and its been happening for well over 50 years now unmitigated. The final leg of the ponzi will occur when outflows>inflows or debt growth exceeds GDP. The fundamental fix isn't a supply side issue. Its a regulatory/corruption issue tamping down any potential market. Also is it even right as a society to allow medical technology that enables one oldest generation to horde all the resources, and as a result out-compete the young with regards to those resources; to the point where the young cannot secure a future and stop having children? The old will age and die regardless. The birth rate is now plummeting because the old have enacted systemic changes and refused to yield their political power to the next generation which should have happened in 2000. People die of old age, there is no escape. Its morally wrong to impose wage slavery on the young by virtue that you spawned them, without representation or consent. The problem itself will resolve in a few years when the great dying starts happening. The folly and banality of evil, of the boomer generation will be one for the history books. How does the saying go, one bad generation is all it takes for society to fall to ruin and destruction? We're living through the proof of that saying.