🔗 Share this article

Out-of-pocket costs. Preferred providers. Out-of-network. Premium health services. Out-of-pocket expenses. Co-payment. Co-insurance. Insurance consultants. Coverage agents. Healthcare consultants. Affordable Care Act. Health Maintenance Organization. Preferred Provider Organization. Exclusive Provider Organization. POS. HDHP. Health Savings Account. Flexible Spending Account. HRA. Explanation of Benefits. Consolidated Omnibus Budget Reconciliation Act. Small Business Health Options Program. Individual coverage. Dependent coverage. Premium tax credits.

Baffled? You should be. Who comprehends all this stuff? Not the typical entrepreneur. Neither the average employee. Selecting the appropriate medical coverage for companies – or for our families – appears to require it requires advanced expertise in healthcare.

Our Healthcare System Is More Than Complex, It Is Expensive

Based on recent research, typical households spends $27,000 annually for their health insurance (up 6% from last year). The average company healthcare expense is expected to surpass $seventeen thousand per employee by 2026, an increase of 9.5% from 2025.

Now the government has ceased functioning due to partisan disputes regarding subsidies that experts say could cause premium increases up to 100% for numerous US citizens.

When Might We Truly Examine National Health Insurance?

When will we genuinely evaluate a national health insurance program here in America? I have to believe we're getting closer because this situation is unsustainable.

I'm not proposing government-run medicine. I'm proposing for our current Medicare system – an insurance system – merely extend to include all citizens. Our infrastructure remains intact. How medical professionals receive payment changes. Trust me, they'll adapt.

How Universal Coverage Could Function

Universal healthcare coverage would need payments from employees and employers. In similar programs, an employee earning moderate income must contribute about 5.3% to their healthcare. Their employer must contribute about thirteen point seventy-five percent.

Does this appear expensive? Unless you compare that with what average US resident spends. I can name dozens of clients who are easily contributing anywhere from 8% to 15% of their employee wages for medical benefits. Remember that in comprehensive systems, those payments include retirement benefits, sick pay, parental benefits and job loss protection along with funding medical services. When you add these expenses compared with our current spending for our retirement plans, job loss coverage and vacation benefits, the difference decreases.

Execution in the US

In the US, a national health premium would raise existing Medicare taxes, a system already established. It ought to be means-based – those at higher income levels would pay more than those earning less. There would be both an employee and employer contribution. And, like much of our government's military, IT, social programs and infrastructure, the program could be managed by private contractors rather than a government office.

Advantages for Small Businesses

Universal healthcare coverage represents a huge benefit for entrepreneurs like mine. It would put small companies in equal competition with our larger competitors that can pay for superior coverage. It would render administration significantly simpler (automatic payroll withholding processed similarly to retirement and healthcare taxes, instead of individual transactions to insurance companies and insurance providers).

It would make it easier for us to budget our yearly costs, instead of enduring the complex (and ineffective) theater of bargaining with the big insurance providers required annually each year. Because it's simplified, there would be a better understanding of coverage by our employees – as opposed to the current system which require them to decipher the complexities of existing plans. And there would certainly be less liability for employers as we no longer have access to our employees' medical records for weighing risks and alternative plans.

Free-Market Viewpoint

I'm as pro-market as possible. But I've learned that government has a significant role in our lives, from providing defense to funding essential systems. Providing healthcare for everyone via universal healthcare strengthens economic foundations. It's a better, easier system for small businesses that employ the majority of American employees and fund half the economic output. It makes it possible employees to enjoy better health, have better attendance and increase productivity.

Considering Challenges

Exist a million considerations I haven't covered? Certainly. Given rising medical expenses we've seen in recent years, it's evident that current healthcare legislation is not working very well. And I realize that we're not a compact European nation where big changes can be readily adopted. However extending universal Medicare, despite the additional taxes that would be incurred, would still be a superior and less expensive strategy both for managing medical expenses and ensuring coverage to everyone.

Need for Honest Assessment

We as Americans, must tone down our own arrogance. Our healthcare system isn't exceptional. The US places well below numerous nations with the best healthcare in the world, according to comprehensive research. Perhaps a positive aspect in this present circumstances is that we undertake serious examination at ourselves and acknowledge that big changes need to happen.