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.
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.