🔗 Share this article

Out-of-pocket costs. In-network. Out-of-network. Premium health services. Personal healthcare costs. Fixed payment. Co-insurance. Benefit advisers. Coverage agents. Medical advisors. Affordable Care Act. HMO. PPO. Exclusive Provider Organization. Point of Service. High Deductible Health Plan. HSA. FSA. HRA. EOB. Consolidated Omnibus Budget Reconciliation Act. SHOP. Individual coverage. Dependent coverage. Premium tax credits.

Baffled? You should be. Who comprehends this complex system? Certainly not the average entrepreneur. Nor the typical employee. Selecting the appropriate medical coverage for companies – or for our families – seems like demands a PhD in medical insurance.

Our Medical System Isn't Just Complicated, It Is Costly

According to a recent study, typical households spends $27,000 each year for their health insurance (up 6% from last year). The average company healthcare expense is projected to surpass $seventeen thousand for each worker in 2026, an increase of 9.5% from 2025.

Currently federal operations has ceased functioning due to partisan disputes over tax credits which analysts predict could cause a doubling of premiums for numerous US citizens.

When Will We Seriously Consider Universal Healthcare?

How soon might we seriously consider universal healthcare coverage in the United States? I have to believe we're approaching that point since this situation is unsustainable.

I'm not suggesting national healthcare. I'm advocating for our current Medicare system – an insurance system – simply expand to cover everyone. Our infrastructure doesn't change. The way our healthcare providers receive payment changes. Believe me, they will adjust.

How National Health Insurance Would Work

A national health insurance program would need contributions from workers and companies. In comparable systems, a worker making average wages must contribute about 5.3% to their healthcare. Their employer must contribute about 13.75%.

Does this seem like a lot? Unless you compare it to what average American pays. I can name multiple clients who are routinely paying anywhere from eight to fifteen percent of payroll costs to their healthcare costs. And keep in mind that in inclusive programs, these contributions also cover pension plans, sick pay, parental benefits and unemployment benefits along with supporting healthcare facilities. When including these expenses compared with our current spending for our retirement plans, job loss coverage and vacation benefits, the difference decreases.

Implementation for America

In the US, a national health premium would increase existing Medicare taxes, a framework that is already in place. It ought to be means-based – wealthier individuals would contribute higher amounts than lower-income earners. This includes both an employee and company payments. And, like much of our government's military, technology, welfare services and infrastructure, the system should be outsourced to third-party administrators rather than federal agencies.

Benefits for Entrepreneurs

A national health insurance program would be a significant advantage for entrepreneurs like mine. It would place us on a level playing field with our larger competitors that can pay for better plans. It would make management much easier (a payroll deduction processed similarly to retirement and Medicare taxes, rather than separate payments to benefit firms and coverage administrators).

It would enable simpler for us to budget annual expenditures, rather than enduring the complicated (and fruitless) process of bargaining with the big insurance providers required annually every year. Because it's simplified, there would exist improved comprehension about benefits by our employees – as opposed to existing arrangements which require them to decipher the complications of current options. Additionally there would definitely exist reduced responsibility for employers since we wouldn't would be privy to workers' medical records for risk assessment and different options.

Capitalist Perspective

I'm as capitalist as they get. But I've learned that government has a significant role in our lives, including national security to supporting needed infrastructure. Providing healthcare for everyone via universal healthcare strengthens our economy's infrastructure. It's a better, easier system for small businesses that employ the majority of the country's workers and generate half the economic output. It enables employees to be healthier, have better attendance and increase productivity.

Considering Challenges

Are there a million considerations I'm not addressing? Of course there are. But with rising medical expenses we've seen in recent years, it's evident that the Affordable Care Act is not working very well. And I realize that we're not a compact European nation where big changes can be readily adopted. But expanding universal Medicare, even with increased taxation required, would still be a better and more affordable approach both for managing medical expenses but providing access to everyone.

Time for Honest Assessment

As Americans, we need to tone down our own arrogance. Our healthcare system isn't exceptional. We rank significantly behind numerous nations in healthcare quality globally, according to major studies. Perhaps a positive aspect in this present circumstances could be that we take a hard look in the mirror and agree that major reforms are necessary.