The Practical Philosopher's Blog

Using the practical application of timeless wisdom to address modern issues

A Radical Solution for Health Care: The Free Market! (Not Socialism)

So much debate is going on pointing out how bad the collectivist approach of the Obama/Democrats will be for our health care, but where is the advocacy of a workable solution?

Here is a brief outline of where we need to go with US health care:

The Modern Health Care Solution

We need to reset our health care system back to a free-market, patient-driven system. Every other successful part of our society runs this way- why not our health care for goodness sake?! We need:

1. Market-based pricing of health care. We need medical Care/Service/Procedures priced up front like everything else in our society- not the price/cost black-boxes of today’s employer and government-subsidized health care.

2. Minute-clinics and similar no-appointment, transparently-priced clinics are going in the right direction of delivering this concept:
http://news.minnesota.publicradio.org/features/2006/01/23_zdechlikm_coninfo/

3. Just like with the fair, portability of pre-tax 401k’s, we need fair, portable pre-tax health savings accounts for everyone to save their own money over time, make their own decisions on health care, and pay it with their own money.

4. Make health care ‘insurance’ back into actual insurance. Couple health savings accounts with high-deductible catastrophic health insurance policies that people buy like they do for life insurance or car insurance.

5. Reform the medical malpractice system and the laws driving it. In some cases, up to 25% of the cost of individual health care is extra tests and procedures run by doctors to ‘bullet proof’ themselves from malpractice lawsuits.

The above approach gives everyone the access, proper control, and choice over their health- not the opposite helplessness dictated by some far away, faceless bureaucrat.

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Filed under: Health Care, Politics, , , , , , , , ,

9 Responses

  1. maddmedic says:

    Radical just radical!! A free market driven health care plan?? But..but…That is AMERICAN!!
    Not Obamican!!
    Nice post and I am liking a few others I have read also.

  2. small but strong says:

    I’ve responded to your post. I think you have some good ideas but am not fully onboard. Thanks for commenting!

    Cheers.

    http://smallbutstrong.wordpress.com/2009/08/18/health-care-revisited/

  3. BWMorlan says:

    I do not like the income tax, but IF we are going to tax income, then health care spending (whether by an individual or a corporation on behalf of an individual) MUST be taxed as income or we will continue to see union-driven gold plated plans distorting the market so the rest of us cannot afford good care.

  4. BWMorlan says:

    Another point, while tort reform is “low hanging fruit” for pointing fingers at, it is not a major driver in health care costs (with possible exceptions for obstetricians and neurologists). Sorry.

    • Philosopher says:

      Actually, my research shows that up to 25% of the cost of care today is from doctors trying to ‘bullet proof’ themselves from a random, high cost malpractice system. Make malpractice a legally consistent and economically reasonable cost and we will get more doctors of higher quality. Keep trying to strangle doctors with unsustainable malpractice premiums and practices close and the best look else where to apply their talents. Everyone loses with this approach except trial lawyers. You’re not a lawyer are you?

  5. freedomactionnow says:

    BWMorlan: “… health care spending (whether by an individual or a corporation on behalf of an individual) MUST be taxed as income …”

    I’m trying to understand that. Do you mean that if I pay $5000 for an emergency-room treatment, that I should report $5000 as income?

    Or do you mean that the hospital should report that $5000? I think they already do – it is, after all, income (from which, at the end of the year, they deduct their allowable expenses, resulting in Taxable Net Income).

  6. Denis E. Ambrose, Jr. says:

    Your plan makes lots of sense and would actually work. Therefore, it will never get implemented.

  7. […] Sense Health Care Solutions Here is an excellent YouTube articulation of my own postings on the simple solution for health care- the free […]

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