Health Care Debate

A recent article from money.CNN.com on the pros and cons of both McCain's and Obama's health-care plans. Let's not be coy - there IS a big transition in the health-care industry ahead, whichever candidate we choose. And remember, both situations are plans and ideals - we don't know if/how each one will operate in reality.

My summary of the article, follows.

McCain's plan:
- First, McCain's plan will probably cause employers to drop their health-care coverage (but so will Obama's, so read on...). In turn, McCain's plan is more likely to force the industry to lower health care costs because of free-market competition. It's a way for the market to check escalating costs.

- If you don't need certain aspects of care (Alzheimer's care for a young person, for example), you don't pay for it. Each person and family chooses the plan suited to the individual(s).

- You should get the money your employer was paying for your health-care, and the government makes a little money taxing that new income. Then, McCain gives you back most of the money in the form of a tax credit.

Sum up: There will be ample money for most people to pay for medical, plus some left over if you're healthy. This will also increase the potential for raises from companies to employees because they are not burdened by the escalating insurance costs. I think this might also work as motivation for people to get preventive care, live healthier lifestyles, and take responsibilities for those variables we can control.

BIG CON: If you are already sicker and/or older than most people, they are unsure if this will cover your needs. These details NEED answers before we transition or we risk hurting people. Not sure how many people fall into this category - and that unknown tends to make the imagination go into overload whether or not that's the case.

Obama's plan:
- Companies will either contribute toward benefits or be fined. This article believes the trend will run toward paying the fine 1) because health-care costs currently rise faster than wages, and 2) because the benefits paid for by the government have low premiums and lots of benefits. So, the Dem's also promote a health-care plan that will not be available through work.

- Obama's plan is more likely to cause costs to steadily go up, much like utility expenses. There's no guarantee we can control the rate at which it increases, and there will be no competition to drive it down.

BIG CON: The consumer has very little motivation to care about costs. As patients, we often opt for "the works" without knowing the costs (you know, sometimes you really NEED the works, but sometimes you don't). And we can't compare different prices from different providers because it's all covered anyway. We will pay taxes to cover everything, almost like a blank check. Also, there is no built in value for personal responsibility because we're covered to fix everything, therefore less motivation for preventitive care.

More of my thoughts:
We value money more than health insurance sometimes, that is a fault. But we also feel entitled to every care option out there, that too is a fault. Obviously the best plan would get everyone what they NEED, without wasting and overtaxing the system. I think McCain's plan is going to do that better than Obama's. But it relies a lot on the individual to responsibly pick a plan. Also, many Republican plans count on the generosity of people to take care of each other (Republicans give much more generously to non-profits, not just in total but also based on % of income). Maybe non-profits burst up to pick up the slack for the sicker and/or older people we were taking about in McCain's plan. In my mind, it's easier to figure out new solutions to gaps in the plan, than it is to cut back from a plan that could easily overburden the tax payers.

Both plans are missing a crucial element; The need for educated workers goes hand in hand with escalating costs. More educators and more educated people working in the health care industry will also help to keep costs more reasonable.

The morale of the story: We really do have to care for each other - both with our money and with our hands.

GT <><