Medical costs (was: [SPORK] Gephardt's Plan)

Russell Turpin deafbox at hotmail.com
Fri Apr 25 18:12:58 PDT 2003


Jeff Bone:
>FWIW:  the reason medicine is prohibitively expensive in the first place is 
>the insane regulatory overkill and its attendant costs.

Maybe.

I think one aspect of the problem is that
everyone wants insurance to cover ordinary
costs. People don't think anything of paying
$2,000/yr to keep their car repaired. Out of
pocket. But if they have to pay that much out
of pocket for visits to various physicians,
they think something's wrong.

Why? It's ridiculous to get insurance
companies involved for ordinary costs. That
adds an incredible overhead to the process,
in hassle for the consumer, in direct costs
for the supplier, and in cost control, for
the insurance company. People say medical
insurance is too expensive, but most of them
haven't priced high-deductible policies, that
kick in only for true catastrophes. Similarly,
general practice physicians who opt-out of
insurance find they can charge significantly
less, because they don't have to hire someone
to handle insurance, and they spend no time
on it themselves.

If everyone tried to insure their autos for
ordinary repairs, I have no doubt that the
cost of going to an auto mechanic would
quickly become ridiculous, as every mechanic
had to hire someone just to handle the claims
for every oil change, water pump replacement,
and tune-up.





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