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Out-of-pocket costs. Preferred providers. Out-of-network. Concierge medical services. Personal healthcare costs. Co-payment. Co-insurance. Insurance consultants. Insurance brokers. Healthcare consultants. ACA. Health Maintenance Organization. PPO. Exclusive Provider Organization. POS. High Deductible Health Plan. HSA. Flexible Spending Account. Health Reimbursement Arrangement. EOB. Consolidated Omnibus Budget Reconciliation Act. Small Business Health Options Program. Single coverage. Family coverage. Insurance subsidies.

Confused? You should be. Who understands all this stuff? Not the typical entrepreneur. Neither the average employee. Selecting the appropriate healthcare insurance for our business – or for households – seems like demands a PhD in healthcare.

Our Medical System Isn't Just Complicated, It's Expensive

Based on a recent study, typical households spends $twenty-seven thousand each year on medical coverage (up 6% compared to last year). Typical company healthcare expense is projected to surpass $seventeen thousand for each worker by 2026, a 9.5% jump from 2025.

Currently federal operations has ceased functioning due to political disagreements regarding tax credits that experts say could cause premium increases up to 100% for numerous US citizens.

When Will We Seriously Consider Universal Healthcare?

When will we seriously consider a national health insurance program in the United States? I have to believe we're approaching that point because this situation is unsustainable.

I'm not suggesting national healthcare. I'm advocating that our already existing Medicare system – an established insurance framework – merely extend to include all citizens. The existing system remains intact. How our healthcare providers get paid changes. Trust me, they will adjust.

How Universal Coverage Would Work

A national health insurance program would require contributions from employees and employers. In comparable systems, an employee earning average wages must contribute approximately five point three percent toward medical coverage. Their employer pays about 13.75%.

Does this appear expensive? Not if you contrast it to what the typical US resident spends. I know multiple businesses that are routinely paying between eight to fifteen percent of their employee wages to their healthcare costs. Remember that in inclusive programs, these contributions include pension plans, sick pay, parental benefits and job loss protection in addition to funding healthcare facilities. When including those costs versus our current spending on retirement programs, job loss coverage and vacation benefits, the gap narrows.

Execution in the US

In the US, a national health premium would increase existing Medicare taxes, a framework that is already in place. It should be means-based – those at higher income levels would pay more than those earning less. This includes both an employee and company payments. Similar to many our government's defense, IT, welfare services and transportation services, the program should be outsourced to third-party administrators rather than federal agencies.

Benefits for Small Businesses

A national health insurance program would be a huge benefit for small businesses such as my company. It would place small companies in equal competition with our larger competitors who can afford better plans. It would render administration significantly simpler (a payroll deduction processed similarly to social security and healthcare taxes, instead of separate payments to insurance companies and insurance providers).

It would make simpler for us to budget our yearly costs, rather than enduring the complicated (and fruitless) process of negotiating with major insurers required annually every year. Because it's simplified, there would be a better understanding about benefits by our employees – contrasted with the current system where they have to decipher the complexities of current options. Additionally there would certainly be reduced responsibility for companies as we no longer would be privy to our employees' health histories for risk assessment and alternative plans.

Capitalist Perspective

I'm as capitalist as possible. However I recognize that public institutions play important functions in society, from providing defense to supporting essential systems. Providing healthcare to all via universal healthcare strengthens our economy's infrastructure. It's a better, simpler approach for entrepreneurs which hire more than half of the country's workers and generate half of our GDP. It makes it possible employees to be healthier, come to work more often and be more productive.

Considering Challenges

Are there numerous factors I haven't covered? Certainly. But with rising medical expenses experienced in recent years, it's evident that current healthcare legislation is not working effectively. And I realize that we're not a compact European nation where big changes can be readily adopted. However extending universal Medicare, even with increased taxation required, would remain a better and more affordable approach for not only managing medical expenses but providing access for all citizens.

Time for Realistic Evaluation

As Americans, must tone down our own arrogance. Our healthcare system isn't exceptional. The US places well below numerous nations in healthcare quality globally, based on comprehensive research. Perhaps a bright spot in this present circumstances could be that we take a hard look at ourselves and agree that major reforms are necessary.