Do You Get What You Pay For?

“Structuring health plans according to value would give Americans the ability to buy whatever health care technologies they choose.” Here is an idea that I find very interesting and have often wondered why our healthcare system doesn’t do this. The idea of paying only for the healthcare you want. 

One of the main reasons health insurance is so expensive is because insurance plans cover almost every medical technology in the book. This means even the ones that don’t work, or are more expensive than current devices and no more effective. Giving people a choice on what type of plan they want to pay for not only benefits individuals but also our nation's system as a whole. By doing this we save each other from paying for others insurance plans that are more expensive. Bringing competition into the market place and having a variety of different plans cover different medical costs allows for a more affordable and effective healthcare system. Why pay high deductibles or high premiums for medical technologies that we personally don’t need access to? Paying for what we want is much more cost effective. Of course, there is the question of being able to change a plan when we get sick and our current one doesn’t cover our treatment. For this, Professor Russell Korobkin of the U.C.L.A. School of Law put forth the idea of an open period once a year or longer if need be where people would be able to change their plans. In addition to this I think a way to upgrade at a fee during the waiting period would be beneficial to this system.  In the end, the idea of a healthcare system having different plans and the consumer being able to choose those plans is something worth thinking about. Creating competition would inevitably bring costs down and make healthcare more affordable. 

In a sense I think that more self-pay tactics and less insurance is a tremendous cost saving strategy. First, it makes people try to keep themselves healthier if they know it comes out of their pocket when they get sick. Second, Insurance brings way to much of an administrative burden on doctors offices causing doctors to make less and patients to pay more.

EVERA. Everyone should feel this good about healthcare.

Source:

http://www.nytimes.com/2014/06/10/upshot/how-to-pay-for-only-the-health-care-you-want.html?_r=0