Economic 101 for the Health Care Reform With a Public Option

Having a Government’s Healthcare with a Public Option as proposed by President Obama will likely cause to bring down and lower your monthly health insurance premium to as little as $25 a month for a full healthcare coverage including dental.

This is how it will work. As it has been reported (see CNN.com) that the premium cost for the proposed Government’s Healthcare with a Public Option will be about 10% – 20% less than the monthly premium fees that you currently pay each month, for your private health insurance coverage.

Currently, private insurance companies charge high premium fees as driven by their need for profit. They do so because they simply have no competition which can help reduce their premium fees and improve your health care needs and benefits. However, with the proposed Health Care Reform with a Public Option, it will help create competition for the health insurance companies, and that’s the only way that health insurance companies may reduce your monthly premium.

Let’s say you currently pay about $165 a month for your health insurance, not including your dental plan, and the proposed Government’s Public Option is 10% less than what you pay now. In order for health insurance companies to continue growing and retaining customers, they will try to match the Government’s Public Option premium fees. And as health insurance companies lower their premium fees, so will the government’s public option.

This graph image is from an unlikely source as noted, but it hits the point

I copied this graph image from an unlikely source as noted, but it hits the point that I'm defining.

The Government’s Public Option premium fees will keep going down as private health insurance companies try to match the government’s public option, until the price comes down to a neutrality (equilibrium) level, where the costs of your healthcare equals your healthcare benefits.

In the end, you may end up paying as little as $25 each month, in health insurance premium, for quality healthcare, and if you end up getting sick, for whatever the case might be, you’ll never have to suffer because of additional out of pocket money you would need to pay for your medical care. And you certainly won’t have to go broke just because you’re sick, and you won’t have to hurt or even die, just because you don’t have health insurance.

You will also have a chance to switch to any healthcare insurance coverage without ever losing your current healthcare benefits. And your existing medical needs or illness will not be the case for any insurance company to deny you the coverage you need just because of your existing illness.

As we all know, that 30% of every dollar you spend on your healthcare premium is spent on medical administrative costs, and probably about 40% of every dollar you spend is spent towards the salaries and wages for the doctors and medical professionals, and only about 30% of every dollar you spend on your health insurance goes towards your medical needs. What the proposed healthcare reform with public option will do is make medical care providers to reduce their excessive costs and give you more healthcare benefits, as they too will have to compete for your business, because the government public option will give you more choices and options to where you go to get treatment for your healthcare needs.

And as the President outlined it last night in his speech, whether you are self employed, business owner or have your own health insurance coverage with whomever you have previously chosen, the proposed Healthcare Reform with Public Option will not make you give up your current health insurance coverage. You can keep what you already have or shop for a better health insurance coverage since health insurance premiums will severely go down. This basically gives you more choices and better options of what you do with your own healthcare needs.

America is becoming polarized so much that loyalty to one’s political affiliation is so important and more relevant than the general needs for the Americans. Even if a certain issue may cause potential danger or even death, party loyalties may not even care if the solution was initiated by the opposite isle of the chamber. And the public elected officials in Washington always seem to forget why or how they got there in the first place, but they are not thinking that there comes a time when the consumers will once again have a chance to decide who to send to Washington, someone who can honestly work on their behalf, and not on the behalf of special interests and lobbyists.

Just because a certain bill, which may be deemed to actually benefit the consumers was initialed by a member of a political party doesn’t mean that the opposite party members shouldn’t support it, just because they feel too loyal and too good for their own party.

Sometimes putting political party differences aside and focusing on what the American people actually need may serve best for everyone, even those who feel otherwise. Just because you feel like you are well off or if a certain issue doesn’t affect you or benefit you, that doesn’t mean that everyone else feels the same.

The majority of people are not as well off as what you are, thus sometimes we just need to think about how or what other people are going through, and show them more compassion as much as you’d want them to show you.

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2 thoughts on “Economic 101 for the Health Care Reform With a Public Option

  1. Pingback: Economic 101 for the Health Care Reform With a Public Option - health insurance

  2. Why A Strong Public Option Is Essential – By jacksmith — Working Class

    Robert Reich explains the pubic option: http://bit.ly/19tHF4

    It’s not just because more than two thirds of the American people want a single payer health care system. And if they cant have a single payer system 77% of all Americans want a strong government-run public option on day one (86% of democrats, 75% of independents, and 72% republicans). Basically everyone.

    It’s not just because according to a new AARP POLL: 86 percent of seniors want universal healthcare security for All, including 93% of Democrats, 87% of Independents, and 78% of Republicans. With 79% of seniors supporting creating a new strong Government-run public option plan, available immediately. Including 89% of Democrats, 80% of Independents, and 61% of Republicans, STUNNING!!

    It’s not just because it will lower cost. Because a strong public option will dramatically lower cost for everyone. And dramatically improved the quality of care everyone receives in America and around the World. Rich, middle class, and poor a like.

    It’s not just because it will save trillions of dollars and prevent the needless deaths of millions more of YOU, caused by a rush to profit by the DISGRACEFUL, GREED DRIVEN, PRIVATE FOR PROFIT MEDICAL INDUSTRIAL COMPLEX!

    It’s not just because every expert in every field, including economist, and Nobel laureates all agree that free market based healthcare systems don’t work. Never have and never will. The US has the only truly free market based healthcare system in the World. And as you all know now, IT IS A DISASTER!

    It’s not just because providing or denying medically necessary care for profit motivations is wrong. Because it is WRONG! It’s professionally, ethically, and morally REPUGNANT!, Animalistic, VILE and EVIL.

    THE REASON THE PUBLIC OPTION IS ESSENTIAL:

    The public option is ESSENTIAL because over 200 million of you are trapped in the forest of the wolves. Which is the forest of the DISGRACEFUL, GREED DRIVEN, PRIVATE FOR PROFIT MEDICAL INDUSTRIAL COMPLEX! With no way out except through needless inhumane suffering, and DEATH. While the wolves tear at your flesh, and rip you limb from lib. Then feast on your lifeless bodies like a dead carcase for transplant parts.

    At the most vulnerable times of your lives (when you were sick and hurting), millions of you have had to fight and loose cruel, but heroic battles. Fighting against the big guns of the DISGRACEFUL, GREED DRIVEN, PRIVATE FOR PROFIT MEDICAL INDUSTRIAL COMPLEX! in the forest of the wolves. All because you have no place else to go. You have no other CHOICE!

    But the PUBLIC OPTION will give you someplace safe to go. And it will give us someplace safe to take you. The public option will be your refugium (your refuge). Where the wolves cannot get at you when your down, hurting, and vulnerable. Where everyone who needs it can find rest, security, comfort and the care they need. Protected by the BIG GUNS of We The People Of The United States. THE MOST POWERFUL PEOPLE AND COUNTRY ON EARTH.

    This is why it is so critical that we do not lead another 50 million vulnerable, uninsured Americans into the forest of the wolves, without the protections of a Strong Government-run public option. We The People Of The United States MUST NOT LET THAT HAPPEN to any more of our fellow Americans. If healthcare reform does not contain a strong public option on day one. YOU MUST! KILL IT. Or you will do far more harm than good. And millions more will die needlessly. Rich, middle class, and poor a like.

    To those who would continue to obstruct good and true healthcare reform for the American people, and who seek to trap millions more vulnerable Americans in the forest of the wolves. We will continue to fight you. We are prepared to wage all out war against you, and will eagerly DESTROY! you. Time…is…UP! YOU HAVE BEEN WARNED! No Co-op’s! No Triggers!

    Healthcare reform can be the GREATEST! Accomplishment of our time and century. A time when future generations may say of us, that we were all, AMERICAS GREATEST GENERATIONS.

    BUT WE MUST ACT!

    I therefore call on all my fellow Americans and the peoples of the World. To join us in this fight so that we may finish becoming the better America that we aspire to be for everyone.

    SPREAD THE WORD!

    I have been privileged to be witness as many of you fought, and struggled to take your first breath, and your last breath on this earth. Rich, middle class, and poor a like. Life is precious.

    Whatever the cost. WE! MUST SUCCEED.

    God Bless You My Fellow Human Beings

    jacksmith — Working Class

    Senator Bernie Sanders on healthcare (http://www.youtube.com/watch?v=RSM8t_cLZgk&feature=player_embedded)

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