THE SOLUTION:

LET PATIENTS CONTROL THEIR OWN HEALTHCARE DOLLARS

Opening the market to low cost, higher deductible, private health insurance policies will solve multiple problems by placing the patient in charge of their own healthcare dollars. Individual, lower cost, higher deductible policies combined with Health Savings Accounts (HSA’s) will impact multiple issues:

• Return power to the patient by giving them control over their hard earned healthcare dollars.
• Encourage patients to ask about pricing and seek the most effective and efficient care.
• Effect price transparency through free-market pressure, not legislative mandate.
• Raise both patient and physician awareness of healthcare costs.
• Make insurance companies responsive to patient needs, not employers or special interest groups.
• Make health insurance transportable. You keep your coverage if you change jobs or move to another state.
• Lower the cost of healthcare without restricting patient access

These changes begin to address the skyrocketing cost of healthcare. Whole Foods, a major west coast grocery chain, instituted a higher deductible, lower cost policy and placed money in a Health Savings Account for each employee. Healthcare costs decreased by 13% the first year. The response? When put to a vote, 77% of employees voted in favor of keeping more control over their own healthcare dollars.

Reducing even one fourth of the total healthcare dollars spent in the U.S. by even 10% would save $50 billion every year without restricting access to care or using burdensome government regulations. This savings is accomplished simply by giving patients a reason to ask two questions:

      1)  Do I really need this test or medication?
      2)  How much will it cost?

Nobody spends someone else’s money as wisely as they spend their own.

Lowering the cost of healthcare will lower insurance premiums allowing more people to afford coverage. Increasing the number of insured will reduce the need for cost shifting (the cost of caring for patients who cannot pay is shifted to those who can). This in turn will decrease the cost of insurance making it yet more affordable.