Health Care Costs Can Be Reduced by 50%
No one will disagree that the cost of health care is exorbitant.
Health care expenditures currently account for over 16% of our Gross Domestic Product - among the highest in the world.
Both sides of the political spectrum have been scrambling to propose broader, more universal coverage for Americans; the specter of even more crippling costs terrifies us we hunker down and try to survive the recession.
Yet there are solutions - "fixes" -- for the existing structure that have not been explored.
The Gilchrist Institute for the Achievement Sciences, where I am Director has developed a six point program for reform.
I believe it is time to challenge Congress to "get real" and improve our existing health care programs.
It's the application that needs reform and the administration that needs to be changed.
These 6 proposals alone could reduce the existing health care system costs by over 50%: 1.
Pursue Health Fraud: Health Fraud is estimated at $100 billion a year.
Having citizens participate in a small share of the payment obligation, combined with an intensified crackdown by the state and federal governments will go a long way in reducing this significant amount.
2.
Medical Tort Reform: The Fair & Reliable Medical Justice Act proposed by the Republicans could save the health care system an estimated $150 billion a year.
3.
Life/Health Insurance Plan: Taking a whole life policy at younger ages and dedicating it to terminal (end of life) circumstances would go a long way to decrease health care costs nationally.
A whole life insurance policy at age 25 for $200,000 would cost approximately $250 per month for some 11 years, then no further payment would be necessary.
The policy will grow to over $1 million by age 90.
It would then be assigned, pledged or sold to doctors, hospitals and pharmacies when terminal life is commenced.
This could save approximately 30% of overall health care costs in this county - approximately $300 billion.
4.
Interstate Policy Enabling Legislation:This is probably the single greatest consideration the insurance companies fear.
It is ridiculous and totally restrictive economics to prevent companies from selling health care policies interstate.
This consideration will expand significantly the competitive potential generating better options and price benefits to the public.
This one factor could decrease premiums by as much as 10-15%.
5.
Illegal Resident Health Tax:With over 12 million illegal immigrants draining our system each year, it would be prudent and just to charge them a tax for these services.
At $2,000 per year, a sum of$24 billion would be generated.
This alone could reduce the health care debt by 5%.
6.
Medical Services Tax Credits: For doctors, clinics, etc.
who serve low-income clients, a tax credit can be granted to participating practitioners.
Health care expenditures currently account for over 16% of our Gross Domestic Product - among the highest in the world.
Both sides of the political spectrum have been scrambling to propose broader, more universal coverage for Americans; the specter of even more crippling costs terrifies us we hunker down and try to survive the recession.
Yet there are solutions - "fixes" -- for the existing structure that have not been explored.
The Gilchrist Institute for the Achievement Sciences, where I am Director has developed a six point program for reform.
I believe it is time to challenge Congress to "get real" and improve our existing health care programs.
It's the application that needs reform and the administration that needs to be changed.
These 6 proposals alone could reduce the existing health care system costs by over 50%: 1.
Pursue Health Fraud: Health Fraud is estimated at $100 billion a year.
Having citizens participate in a small share of the payment obligation, combined with an intensified crackdown by the state and federal governments will go a long way in reducing this significant amount.
2.
Medical Tort Reform: The Fair & Reliable Medical Justice Act proposed by the Republicans could save the health care system an estimated $150 billion a year.
3.
Life/Health Insurance Plan: Taking a whole life policy at younger ages and dedicating it to terminal (end of life) circumstances would go a long way to decrease health care costs nationally.
A whole life insurance policy at age 25 for $200,000 would cost approximately $250 per month for some 11 years, then no further payment would be necessary.
The policy will grow to over $1 million by age 90.
It would then be assigned, pledged or sold to doctors, hospitals and pharmacies when terminal life is commenced.
This could save approximately 30% of overall health care costs in this county - approximately $300 billion.
4.
Interstate Policy Enabling Legislation:This is probably the single greatest consideration the insurance companies fear.
It is ridiculous and totally restrictive economics to prevent companies from selling health care policies interstate.
This consideration will expand significantly the competitive potential generating better options and price benefits to the public.
This one factor could decrease premiums by as much as 10-15%.
5.
Illegal Resident Health Tax:With over 12 million illegal immigrants draining our system each year, it would be prudent and just to charge them a tax for these services.
At $2,000 per year, a sum of$24 billion would be generated.
This alone could reduce the health care debt by 5%.
6.
Medical Services Tax Credits: For doctors, clinics, etc.
who serve low-income clients, a tax credit can be granted to participating practitioners.
Source...