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Out-of-pocket costs. In-network. Out-of-network. Concierge medical services. Personal healthcare costs. Co-payment. Shared insurance. Insurance consultants. Insurance brokers. Healthcare consultants. Affordable Care Act. Health Maintenance Organization. PPO. Exclusive Provider Organization. Point of Service. High Deductible Health Plan. HSA. FSA. HRA. Explanation of Benefits. COBRA. SHOP. Individual coverage. Family coverage. Premium tax credits.

Baffled? You should be. Who understands all this stuff? Not the typical entrepreneur. Nor the typical employee. Selecting the right medical coverage for our business – or for households – appears to require demands a PhD in medical insurance.

The Healthcare System Is More Than Complicated, It's Expensive

According to a recent study, typical households spends $twenty-seven thousand each year for their health insurance (up 6% from last year). Typical employer health insurance cost is projected to exceed $seventeen thousand per employee by 2026, an increase of 9.5% from 2025.

Currently federal operations has ceased functioning due to political disagreements regarding subsidies that experts say will lead to a doubling of premiums for numerous US citizens.

When Will We Seriously Consider National Health Insurance?

How soon might we seriously consider a national health insurance program in the United States? I'm convinced we're getting closer since this can't continue.

I'm not suggesting national healthcare. I'm advocating that our already existing Medicare system – an insurance system – simply expand to include all citizens. The existing system remains intact. How our healthcare providers receive payment would change. Believe me, they will adjust.

The Way Universal Coverage Could Function

A national health insurance program would need contributions from both employees and employers. In similar programs, a worker making average wages pays approximately five point three percent toward medical coverage. The company must contribute approximately thirteen point seventy-five percent.

Does this appear expensive? Not if you compare that with what the typical American pays. I can name dozens of clients that are easily contributing anywhere from 8% to 15% of their employee wages to their healthcare costs. Remember that with comprehensive systems, these contributions also cover retirement benefits, illness coverage, parental benefits and job loss protection along with funding healthcare facilities. When including these expenses versus our current spending on retirement programs, unemployment insurance and vacation benefits, the difference decreases.

Execution for America

For America, universal healthcare funding would raise our Medicare tax deduction, a system already established. It should be means-based – those at higher income levels would contribute higher amounts than those earning less. This includes both an employee and company payments. And, like much of our government's defense, IT, welfare services and infrastructure, the system should be outsourced by private contractors instead of a government office.

Advantages for Entrepreneurs

A national health insurance program represents a significant advantage for small businesses like mine. It would place us on a level playing field against big corporations who can afford superior coverage. It would make management significantly simpler (automatic payroll withholding remitted like social security and Medicare taxes, rather than individual transactions to insurance companies and insurance providers).

It would make simpler for us to budget our yearly costs, instead of enduring the complex (and ineffective) process of negotiating with the big insurance providers required annually every year. Due to simplification, there would exist improved comprehension of coverage by our employees – contrasted with the current system where they have to decipher the complexities of existing plans. Additionally there would certainly be reduced responsibility for companies since we wouldn't have access to workers' medical records for weighing risks and different options.

Capitalist Perspective

I'm as pro-market as they get. However I recognize that government has a significant role in society, including national security to funding needed infrastructure. Ensuring medical coverage for everyone via universal healthcare enhances economic foundations. It represents superior, simpler approach for entrepreneurs that employ the majority of the country's workers and generate half the economic output. It makes it possible employees to enjoy better health, have better attendance and be more productive.

Addressing Concerns

Exist a million considerations I'm not addressing? Of course there are. Given rising medical expenses experienced recently, it's evident that current healthcare legislation isn't functioning effectively. And I realize that America isn't a compact European nation where major reforms can be readily adopted. However extending universal Medicare, despite the additional taxes required, would remain a superior and more affordable approach for not only managing medical expenses and ensuring coverage for all citizens.

Time for Honest Assessment

As Americans, we need to reduce national pride. America's medical care isn't so great. We rank well below numerous nations with the best healthcare in the world, based on comprehensive research. Maybe one bright spot amid present circumstances is that we undertake a hard look in the mirror and acknowledge that big changes are necessary.