The main reason that medical insurance costs us so much now is that medical procedures cost a lot and are probably overused.
The main reason that medical insurance costs us so much now is that medical procedures cost a lot and are probably overused. Doctors now regularly perform many super-expensive operations and procedures that were unknown a short time ago. Our sedentary lifestyles also indirectly increase our prices. We need more medical care as our society becomes less healthy.
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One way to reduce our health insurance costs would be to reduce the number of bypass operations and other cardiovascular procedures that are performed. In the good old days of economic hospital and medical insurance, these medical procedures were performed much less frequently.
Of course, lowering the number of procedures without reducing the need for these operations would simply result in higher mortality. The unwanted side effect of cost reduction is often a reduction in efficiency.
A huge percentage of medical costs are incurred in the last years, if not the last months of life. In an attempt to extend life, we will often spare no expense.
From a purely dollar point of view, extending the money that makes a life in his forties is helping our country extend the life of an eighty-something. Chances are that the forties is working and paying taxes. If he or she were to die, he or she would stop paying income tax. If he or she became disabled, they would not only stop paying into the system, but could also begin to be paid government money in the form of social security benefits. Extending the life of a senior who has stopped paying income that contributes to our GDP or taxes and who is currently receiving government benefits has the opposite effect.
Although we should not make all of our decisions based on money, we should at least be aware of the importance of helping workers who pay taxes today continue to be worker taxpayers puts more money in our pockets that we can use for other things. These other things may include extending the lives of our older citizens.
Unless you are a convention, there is probably not much you can do to change what medical insurance costs for everyone. However, there can be a lot you can do to keep expenses low for yourself and your family.
Do what you can to stay in shape. Being active and eating healthy foods in moderation will do several things for your medical expenses, including the cost of insurance.
If you are in better health, you will use your health insurance less frequently. This means that you will have less co-insurance and other personal expenses to pay. You will be eligible for better premiums if you need to buy private or individual medical insurance.
Shop around for health insurance. Look at not only the different insurance companies, but the different places to get coverage. If you qualify for COBRA, for example, don’t just look at COBRA. Also consider private health insurance.
Health insurance is expensive for several reasons. Many of the reasons why it is so expensive are beyond our control. However, we can take the time to research the health insurance options available to us and do what we can to stay warm and reduce costs for ourselves and our families.