ObamaCare

ObamaCares

Quality health care in the United States has until recently been a luxury; that is, something only for those that can afford it. This should change over the next few years as the Patient Protection and Affordable Care Act – more colloquially known as Obamacare – rolls out.

healthcare costs

healthcare costs

Currently our system of “every man/woman/family for themselves” has resulted in total health care costs which are on the order of twice the rest of the industrialized world as measured as a fraction of the gross domestic product.

Sadly, because of our past approach, we’ve end up with poorer health care outcomes such as higher infant mortality rates and shorter life expectancies. There are several reasons why we pay more but get less compared to the rest of the world. First and foremost is the lack of preventive care for the poor or those that think it is unnecessary.

infant mortality

infant mortality

When it comes to health care, the old saw “an ounce of prevention is worth a pound of cure” rules. An example or two should suffice: The absolutely most effective health care dollar spent is the dollar spent on vaccinations. Horrible diseases such as small pox and polio have been eradicated. Other diseases that caused high infant mortality rates such as diphtheria and pertussis in the past have been drastically reduced.

Yet much preventive care is unachieved. Consider heart attacks and stokes as a cost factor. Either of these conditions can cost hundreds of thousands of dollars to treat after the fact, but literally pennies a day to prevent with blood pressure medication.

Over a million families file for bankruptcy every year. Medical bills are the principle cause or contribute to these filings over sixty per cent of the time. Obamacare will reduce bankruptcies by abolishing lifetime benefit limits and price discrimination for pre-existing conditions, thus lowering out of pocket costs for families.

What is cheaper to you personally? Assisting the poor (and mandating those who can but refuse to) obtain health care? Or picking up their tab through higher premiums for your health care? The rest of the world has the answer and it is the former. That is why Obamacare will lower costs overall by adopting policies which favor preventive care and full participation in our common care.

Considerably more savings in health care can be had if we control costs via even more collective action. A Titanium alloy hip joint costs about 350 bucks to produce yet insurers are charged close to ten thousand dollars, a markup of three thousand per cent! Why? Because they can, and we pay unnecessarily. In Belgium, on the other hand, the national health system takes a bid for the same joint. The resultant cost is less than a thousand dollars, a tenth of the cost we pay for the exact same item.

There are many things that benefit us collectively such as education, police and fire protection, national defense, infrastructure for commerce, scientific research, and the list goes on and on. It is time we recognize that our health care should fall into the same category. The Patient Protection and Affordable Care Act is a step in the right direction but there is still more that can be done to lower costs further and improve care.

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