Chapter 14 Excerpts
Chapter 14 - Paying for Medical Care - excerpts
"If you take your kid in for the sniffles, you pay $20, but the full cost is $200. And so we need to get back to the price system where you see the full cost of health care, and then people will make smarter decisions. That will reduce health care costs, and it's a huge part of our economy." Cong. Dave Brat, (R-Mich.)
I am using the term “medical care” to include medical, hospital, clinical, pharmaceuticals, durable medical products, diagnostics, mental health, therapies, and anything else we might wrap up into this single category related to an individual’s medical and mental health. This will help us in our general discussion.
It is also important to note that every finance system has strengths and flaws. I offer these ideas to generate a serious discussion about ways we might address paying the cost of care for the clear majority of United States residents. There are several criteria that guide my discussion:
- As much as is possible, individuals should be in charge of decisions about paying for medical care for themselves and/or loved ones...