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Wednesday, February 06, 2008 |
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Might be time to end employer provided health care |
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There is a renewed interest in addressing health care reform on both the state and national levels. This focus may be enhanced by Michael Moore’s new film “Sicko” that starts next week. Much of the legislative efforts have been concentrating on the uninsured. I think this is a valid first-step as it is the uninsured that create the cost shift that helps to escalate insurance premiums for the rest of us. On the other hand, it is a band-aid2 for a health care system that is barely on life-support.
We are about to get our renewal rates for our health insurance policy and we expect a significant increase of something in the neighborhood of 15-20%. This is clearly unsustainable. The rising cost of health insurance premiums is perhaps the single most uncontrollable element of business overhead and is forcing companies to make difficult choices like dropping or reducing coverage. When this happens, the costs of health care is either absorbed by the business, or shifted to families, state programs, or back onto those who are insured and those employers who continue to provide insurance. Increased health insurance premiums means businesses have reduced capacity to invest money in their business for expansion, to raise employee salaries, or to increase other benefits like retirement plans, etc.
As a businessman that provides health care coverage for my employees, I know very well about the rapid escalation of the cost of providing health care for my staff. When I first started in business over 30 years ago, when I founded Northern Power Systems, I was able to cover an employee and dependents for about $1500 a year. Today, coverage that is not even as comprehensive will cost me in excess of $11, 000 a year.
The employer has become the “payer of last resort,” picking up the costs of uncompensated provider care, whether it results from inadequate reimbursement rates or inadequate insurance coverage for people needing health care. As a business owner, no longer do I make hiring decisions based solely upon my company’s need for growth and development. I must consider carefully the impact of the rapidly escalating health insurance premiums as I make each new hire. Sometimes the cost of those “taxes” can equal 50% of an entry-level worker’s salary.
I have intentionally used the word “taxes” because in the health care debate it really all comes down to money. Businesses that do the right thing are paying a health care tax to insurance companies. The dollars I need to spend on providing health care to my employees, who could not get affordable coverage in any other way is a tax, call it a premium but it barks just like a tax! It’s a standing obligation I have, is my contribution to a defined social need. But the “health care insurance tax” that I pay is very different from the other taxes I pay. Unlike other taxes, a) not everyone pays this tax, although everyone benefits from it; b) there is no rational allocation of the tax burden; c) the burden is not distributed through a transparent democratic public debate process; and d) as a “health insurance taxpayer” I have no influence on the administration or governance of the public good that is funded by the tax. I would much rather pay taxes that are determined through a democratic process, with democratic oversight of the disbursement and delivery system, to fund health care, than continue to be subject to unpredictable, opaque and rapidly escalating health insurance “taxes”.
Additionally, employer-funded health insurance has impacted the competitive marketplace, making the decision NOT to provide coverage a strong competitive advantage in bidding for contracts. Employers that do not provide coverage shift their employee’s health care costs to those of us who choose to act responsibly, thereby doubling the adverse competitive impact. Other employers hire part-time or seasonal workers to avoid this premium/tax, still others “dumb down” coverage with very high deductibles and limited coverage that encourages Vermonters to avoid medical care even for chronic conditions.
Ending the employer-based funding of health care will stimulate economic development by reducing the tendency of employers to offer part-time jobs to avoid health care costs, will give employees the freedom to change jobs without fear of loss of health benefits and will eliminate this contentious issue as a labor-management dispute.
The huge administrative load created by our current “Rube Goldberg” “system” of health care in the USA is absorbing millions of dollars to have patients and medical providers fight with insurance companies for coverage. You get an explanation of benefits that needs a lawyer to interpret and the insurance companies are motivated to deny coverage to increase their profits. It would be one thing if our method of providing health care to our citizens produced the best health care in the world, but it does not.
It is time to scrap employer-funded optional health care and provide everyone with access to health care as a “public good” that is publicly-financed so that everyone pays their fair share and everyone receives top-quality health care. This is really the only solution to health care that is feasible and has been demonstrated to be effective throughout the world. There are 27 industrialized nations in the world and 26 of them provide universal health care |
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Posted by drtamiflu at 17:15:28 |
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Thursday, March 13, 2008 |
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Auto Insurance |
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Auto Insurance
Auto insurance is a insurance purchased for cars , trucks and other vehicles. It protects against losses occurred during and against liability that could be incurred in an accident.
There are the agents that work for the insurance companies and they can answer any questions you might have. There is no need to get the auto insurance policy through company as a quote and information is free.
If you have classic vintage autos you really need to have them insured , even if you don’t drive them. The auto insurance specialists at Classic Auto Insurance will set you up with the right package for your needs.
If you get in an accident , the amount of money that you receive if the car can not be repaired , the amount you receive as a cash settlement will be stated in the policy. Auto insurance specialists do require that you have papers with the appraised value of the car when you get the insurance and this should coincide with the book value of the car.
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Posted by Steva at 11:15:36 |
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Thursday, March 13, 2008 |
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Different health Plans? |
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Health Insurance
Life Insurance is an agreement between two parties namely the insurer and the insured.
A health insurance policy can be considered as the most important type of insurance. Most people priorities having one because of the heightened cost of medical treatments and services.
Different companies and organizations each offer their own schemes of coverage. The basic things that should be included in each in any health insurance plan are medical , surgical and hospital expenses. Prescription drugs should also be covered , although such is no t the case for some. Dental services may also be included in more comprehensive insurance policies. There are two types of health insurance policies. First one is free for service. In this type of policy , an insured person may go to whoever doctor or medical attendant that he wants. The insured pays for the bills and asks for the receipts , which is later filed to the insurer for reimbursement.
The second type of health insurance is managed care. It includes plans such as Health Maintenance Organizations (HMOs), Preferred Provider Organizations (PPS) and Point Of Service Plans (POS). A monthly premium is required to be a member of such plans , which should provide you with comprehensive health services.
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Posted by Steva at 11:17:30 |
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Thursday, March 13, 2008 |
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How is life insurance paid? |
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life Insurance
Life Insurance is a practical way to provide the most coverage for your premium dollar during the early years of your policy. Term insurance provides protection for a limited period of time and pays death benefit if you die during that period.
The two type of life insurance are term and permanent. The one that is right for you depends on many factors including your budget, the amount of coverage you need and the length of time you would like the coverage last.
Term life insurance - Term policies can help meet a wide variety of business and personal needs and often provide the most coverage for your premium dollar for set periods of time.
Permanent policies can provide lifetime protection . There are several different types of permanent policies.
Universal life insurance can help meet the needs of people who desire long term death benefit protection with a flexible premium structure.
Variable life insurance offers a choice of death options and a potential to accumulate non-guaranteed tax -deferred cash value that fluctuates based on the performance of underlying investment option that you choose.
Survivorship life insurance insures two people and pays the death benefit when both have died. It is used primarily for wealth preservation .
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Posted by Steva at 11:18:38 |
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