Stability and Health Insurance Coverage
Dec 31st, 2009
Years ago, long before World War II individuals and families that could afford it purchased their own personal medical health insurance policies. Of course, back then the cost was much less than the annual premiums we are facing today. However, all things relative there were many families that could not afford the annual insurance premium policies.
Yet, life was different, slower, more relaxed and the population life span was on average lower than it is today. Years ago though individuals were able to work off their bills, especially medical bills unlike today. Medical doctors made house calls and were paid in kind with farm animals, fruits, vegetables and even pies, biscuits, and bread.
Today’s world is different and since World War II employers began offering medical insurance to the returning soldiers as an enticement. This was in lieu of higher salaries at the time because there was a sort of curfew limitation on salaries.
Since that time in history employers have been offering less in salary base and including medical coverage. Since then the annual premium health insurance quotes have skyrocketed to the point where employees are denied coverage from the medical insurance rolls or have to pay a portion out of pocket which is usually a payroll deduction.
In the meantime laws passed through Congress initiated the deductibility of annual insurance premium from employer’s corporate taxes, but not as an annual deduction from individual employees. In recent years with the rise of freelancers, small business operators, and the sole proprietor new legislation put into place where a percentage of their health care costs were deductible.
Here are the three major barriers that will lead to personal ownership and portability.
1. The federal tax treatment is out of balance between employer’s and employees
2. Insurance markets do not facilitate the purchase of affordable health insurance plans to allow for portability
3. Public assistant programs preclude the enabling of individuals and families to transition from public to private insurance
This brings us to where we are today and the medical health system is one very expensive mess. Now we have a government that is determining the take over of the entire medical health industry and making it law for every individual to carry medical insurance or face the possibility of jail time. Yet, in jail the individual automatically receives free, yes free medical health provisions. This is certainly an interesting scenario and will be very fascinating to watch how this all unfolds.
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