🔗 Share this article

Deductibles. In-network. Out-of-network. Premium health services. Out-of-pocket expenses. Co-payment. Shared insurance. Benefit advisers. Insurance brokers. Healthcare consultants. Affordable Care Act. Health Maintenance Organization. PPO. EPO. POS. High Deductible Health Plan. HSA. Flexible Spending Account. Health Reimbursement Arrangement. EOB. COBRA. Small Business Health Options Program. Single coverage. Dependent coverage. Premium tax credits.

Confused? It's understandable. Who understands all this stuff? Not the typical business owner. Neither the average employee. Selecting the appropriate healthcare insurance for our business – or for households – seems like demands advanced expertise in medical insurance.

The Medical System Isn't Just Complicated, It's Costly

Based on a recent study, typical households spends $27,000 each year on medical coverage (increasing by 6% from last year). Typical employer health insurance cost is expected to exceed $seventeen thousand for each worker by 2026, an increase of 9.5% compared to 2025.

Now federal operations has ceased functioning due to political disagreements regarding tax credits that experts say could cause a doubling of premiums for numerous US citizens.

When Will 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 can't continue.

I'm not suggesting national healthcare. I'm advocating for our current Medicare system – an established insurance framework – merely extend to cover everyone. The existing system doesn't change. The way our healthcare providers get paid changes. Believe me, they will adjust.

The Way Universal Coverage Would Work

Universal healthcare coverage would require payments from both employees and employers. In similar programs, a worker making average wages pays about 5.3% toward medical coverage. The company pays about 13.75%.

Does this appear expensive? Unless you contrast it to what average American pays. I can name multiple clients who are routinely paying anywhere from eight to fifteen percent of their employee wages to their healthcare costs. Remember that in inclusive programs, these contributions also cover pension plans, illness coverage, parental benefits and job loss protection along with supporting medical services. When you add these expenses compared with our current spending on retirement programs, job loss coverage and paid time off, the gap narrows.

Execution for America

In the US, a national health premium would raise existing Medicare taxes, a system already established. It should be income-adjusted – wealthier individuals would contribute higher amounts than those earning less. This includes both an employee and employer contribution. And, like many our government's military, technology, welfare services and infrastructure, the program could be managed to third-party administrators rather than a government office.

Benefits for Entrepreneurs

A national health insurance program represents a huge benefit for entrepreneurs such as my company. It would place us on a level playing field with our larger competitors who can afford superior coverage. It would render administration significantly simpler (a payroll deduction processed similarly to retirement and healthcare taxes, instead of individual transactions to insurance companies and insurance providers).

It would make it easier to plan expenses annual expenditures, instead of enduring the complicated (and ineffective) process of bargaining with the big insurance providers that we must do each year. Because it's simplified, there would be a better understanding about benefits by our employees – contrasted with existing arrangements which require them to decipher the complications of existing plans. And there would definitely exist reduced responsibility for companies as we no longer would be privy to workers' health histories for risk assessment and alternative plans.

Capitalist Perspective

I'm as capitalist as they get. But I've learned that government has a significant role in society, including national security to funding needed infrastructure. Ensuring medical coverage for everyone via universal healthcare enhances our economy's infrastructure. It represents superior, simpler approach for small businesses that employ more than half of American employees and generate half the economic output. It makes it possible employees to enjoy better health, come to work more often and be more productive.

Considering Challenges

Exist a million considerations I haven't covered? Of course there are. But with rising medical expenses experienced recently, it's evident that the Affordable Care Act isn't functioning effectively. And I realize that America isn't a compact European nation where major reforms can be readily adopted. But expanding Medicare for all, despite the additional taxes required, would still be a better and less expensive approach both for managing medical expenses and ensuring coverage for all citizens.

Time for Honest Assessment

As Americans, we need to reduce national pride. Our healthcare system isn't so great. We rank well below many other countries with the best healthcare in the world, based on comprehensive research. Perhaps a bright spot in this present circumstances could be that we undertake a hard look in the mirror and acknowledge that big changes are necessary.