Blog,  Health

The Complete Moderate's Guide to Healthcare

A fake Youtube chef cut his hand in the kitchen…this is what happened to his wallet.

KB is a 25… ish year old Youtuber, presentingto the emergency room – which was a huge financial mistake.

This video was brought to you by CuriosityStream.

My original plan for this video was to takethat scenario through multiple different healthcare paths to show you all the options and costs.

I very quickly realized that wasn’t goingto work.

Even if I had done that, those numbers wouldhave been completely meaningless to you because of how healthcare works in our country.

It’s not like ordering a Big Mac.

The numbers I would’ve given you would onlyapply to other 25-ish year old men living in [HARM TO ONGOING MATTER], it’s very unlikelythat it would be relevant to you.

So there’s really no point in digging upthose numbers.

Especially since the cost of a procedure notonly varies widely within the same city, but sometimes on the same block.

A few stitches can cost anywhere from $200to $3000.

I picked stitches because it’s pretty universal, there is no gender, or race, or even class, that is more prone to needing stitches.

I’ve personally needed stitches at leastfive times that I can remember.

The obvious explanation for that wide rangeis where on the body were you injured? Stitches on your shin are going to be easierand cheaper than stitches on your eye.

Except… no, some people pay less for eyestitches.

And these price ranges exist across the boardfor all procedures, if you walk into a medical facility with a burst appendix, it’s goingto cost you anywhere from $1500 to $180, 000.

I somehow doubt that one appendectomy couldbe 120 times better than another.

Some cases are complicated and require extraimaging or post-operative care, the point is, you don’t know that beforehand.

When you get the bill, it could be anywherein this range.

So rather than just shouting numbers at youand laughing about how ridiculous things can cost, I want to explain why that range exists.

Many of you likely know parts of the answeralready.

The most obvious being that urgent care isalmost always cheaper than emergency care.

Both with and without insurance.

Urgent cares are a relatively new conceptin the US and provide a cheaper alternative for non-life-threatening emergencies.

Like stitches.

Let me be clear, when in doubt, go to theemergency room, you will never be turned away, but if you walk into an urgent care with somethingmore serious, they might send you to the ER, possibly delaying lifesaving treatment.

But odds are that if you only need four stitches, it probably isn’t going to kill you any time soon.

Emergency rooms cost so much more becauseof the infrastructure and overhead required to keep a large hospital running.

But also because of more nefarious reasons.

70% of hospitals in the United States areprivately operated but not run for profit, which is surprising to most Americans.

Insurance companies, on the other hand, areonly run for profit.

So in order to attract more customers, insurancecompanies have to offer better deals.

Which is somewhat difficult when a hospitalis non-for-profit.

Usually, if you’re not making a profit, it means your prices are already as low as they can be.

Enter the hospital chargemaster.

That’s not a chargemaster.

Pretend.

Every hospital in America has a list of pricesfor every good and service they provide, which until this year, was kept hidden from thepublic.

Which is a huge problem in a capitalist system.

You can’t really make an informed economicdecision if there is no price transparency or easy way to compare different costs.

Not that you would ever shop around duringan emergency anyway.

So the insurance companies went to the hospitals– Side note, in some cases, the insurance companies own the hospital outright, and whilethe hospital is a non-profit… they aren’t.

– and said “hey, you’re currently chargingyour customers $200 for this service, why don’t you increase your chargemaster priceto $250, but still only charge our customers $200, that way we can tell them we’re gettingthem a discount.

” This should sound familiar to anyone who hasever shopped on Black Friday.

Repeat that for every procedure or medication, nationwide, and you have the first piece of the puzzle.

When figuring out the cost of healthcare inthe US, you have to look at multiple variables, we’ll add to this list as we go, but wecan start with the base cost.

The price of materials, labor, facilities, and sometimes including those blue light chargemaster rollbacks.

As we’ve seen, this base cost can rangefrom three to six digits depending on where you go.

Which is the second variable – location.

Not only are we talking about state or city, but street.

Add in provider type – are you going toan emergency room, urgent care, or just your doctor – and you have even more variation.

Since we’re only five minutes in, you probablyfigured out that this list isn’t even close to complete.

An unfortunate reality of our system is thatit also matters who you are.

The Affordable Care Act made it illegal forhospitals and insurance companies to charge you differently based on your previous medicalhistory, but they can still charge you differently for basically any other reason – includinggender and perhaps most obviously, your age.

For example, stitches on an infant are objectivelymore difficult and therefore more expensive.

Bet that wasn’t the direction you expectedme to take the ageism argument.

Procedures aside, age is one of the biggestfactors that contribute to the cost of health insurance.

Alright non-Americans, get your laughs outof the way now.

[Laughs in Foreigner] Health insurance startedas a sort of membership program, known as Health Assurance, you paid a fixed amountevery month and any medical costs you incur were on them.

Your health was assured.

It didn’t take them very long to figureout the formula for success.

Obvious abuses aside, that simple just modelwasn’t sustainable.

So over time, they have shifted more of thecost of actually using medical services onto the consumer, called it Insurance, and madethe system so complicated that most Americans don’t even bother trying to understand it.

Lucky for you… I’m not doing anything, I’ve got time.

The health insurance industry didn’t reallytake off until World War 2, along with rationing fuel and rubber, prices and wages were alsofixed by the government.

So companies had to get creative to attracttalent.

The most popular way was to offer benefitson top of your salary, like paid vacation, housing, or health insurance.

Today, 60% of Americans get their health insurancethrough their employer.

This is thanks, in part to ObamaCare, officiallyknown as the Affordable Care Act or ACA, which made it so that any company with at least50 employees has to offer health insurance.

Though “offer” is a bit of a loose term.

Which is yet another factor – how much youremployer offers to contribute.

Your insurance premium might be $500 a month, but your employer might only pay half of it… or none of it.

In order to discuss how insurance actuallyworks, let’s take a look at something a little more simple – car insurance.

In most states, if you own a car, you arealso required to have car insurance.

The more people who are paying into insurance, the lower the cost for everyone – most people accept this reality when it comes to car insurance.

But not health insurance, for some reason.

The Affordable Care Act did a lot of goodthings, like mostly getting rid of pre-existing conditions, allowing you to remain on yourparents’ insurance until you’re 26, and a bunch of other stuff we’ll get to later.

But it also required everyone to have healthinsurance, through the Individual Mandate.

The hope being that the more people who haveinsurance, the cheaper it will be for everyone, just like car insurance.

But the mandate was just repealed so, nevermind, I guess.

Everyone with insurance pays a premium, thisis like your membership fee and you pay this regardless of whether or not you actuallyuse it.

If your premium is $100 a month and you neverget into an accident, that $1200 a year is simply gone.

Because of this, a lot of people think ofinsurance as a bit of a scam – If I didn’t use it, I should get it back or something.

This is what I’m going to call Stage Zero– you pay your premiums, you don’t use it, and nothing happens.

Rinse and repeat, every year.

There are two tiers of car insurance, thelowest being Liability, which only pays out if you are at fault in an accident, and Comprehensive, which pays for any damage to your vehicle, whether it be a collision or an act of god.

But once you actually have an accident, youenter Stage One, when you pay all costs out of pocket until you reach your deductible.

This is the amount you have to pay beforeyour insurance will contribute.

For many car insurance plans, the deductibleis also your maximum out of pocket – or MOOP.

Who the hell is Moop? It’s the most you will pay to fix your carin a given year.

After which, you enter Stage Two, when yourinsurance pays all remaining costs.

Sometimes, there is a maximum annual or lifetimebenefit, after which you would be on the hook for any remaining costs, but that’s fairlyrare.

So if you get into an accident that costs$15, 000, you would only pay up to your deductible, say five hundred dollars, and your insurancecompany would cover the rest.

Congratulations, having car insurance probablysaved you thousands of dollars.

But when it comes to health insurance, mostpeople only focus on the cost, if they never go to the doctor they’re just throwing awaymoney every month.

This is important, so pay attention.

Not having insurance is only cheaper, if youknow that healthcare costs without insurance will be less than your annual premium andyour deductible put together.

Remember, without insurance, you will be payingregular chargemaster prices.

Some hospitals might be willing to work withyou and give you the “discount” price if you’re uninsured, but you can never counton that.

For our car insurance example, that tippingpoint would be $1700.

If you know that your car repair costs aregoing to be less than $1700, it’s cheaper to just go without insurance.

But you literally can’t know that.

You can’t predict if some if some randomtire is going to hit you.

Just as you can’t predict if you’re goingto cut yourself or your appendix is going to burst.

So let’s say you’re playing it safe, youhave health insurance, and something unpredictable happens… Just like car insurance, you started in StageZero.

You’ve been paying your premiums and havebeen relatively healthy until now.

You go to the hospital and you enter StageOne, you are paying everything out of pocket up to your deductible, so far everything ispretty simple.

But Stage Two is where things become a bitmore complicated – this is when you and the insurance company split the costs of yourcare, through two mechanisms.

A copay is a flat fee, like $25 every timeyou go to the doctor.

That’s just to walk in the door, by theway, if they do anything more than that, it costs extra.

Usually through coinsurance, which is a percentagerather than a flat fee, so for example, 20% of all outpatient procedures.

Only copays and coinsurance count towardsyour MOOP, premiums, prescriptions, and out of network costs, do not.

Once you hit your maximum, you enter StageThree – when your insurance company covers all remaining costs.

The Affordable Care Act prohibits any maximumannual benefit or lifetime limits for health insurance, though they can still exist fordental and other insurance types.

So Stage Three has no maximum dollar amount, but your MOOP is annual limit that resets each year.

This is the next variable we’re going toadd to our list – When the healthcare cost occurs.

If your appendix bursts with only one monthleft to go in the year and you hit your maximum out of pocket, if you still need continuingcare the next month – which is also technically the next year – you will have to pay yourmaximum out of pocket again.

Effectively doubling the cost of this singleevent even with insurance.

There are many different types of health insuranceprograms, all of which cost different amounts based on what kind of care you want.

Or more likely, what your employer chose foryou.

The cheapest type is an HMO or Health MaintenanceOrganization which operates through smaller networks of providers.

Another very important term and concept.

Doctors and hospitals sign agreements withinsurance companies to be part of their network and see their patients, sometimes at a reducedrate, as I mentioned earlier.

If you’re on that insurance, you can onlysee those doctors and hospitals.

If the doctor or the insurance company decidethey don’t want to work together anymore – you don’t get a say.

If you like your doctor, or health plan, youcan keep your doctor.

He couldn’t legally mandate that your doctorand insurance company continue to work together forever – this is America.

So now your doctor is out-of-network.

If you see an out-of-network doctor, you willvery likely be on the hook for the entire, non-discounted bill.

And you might not know it until afterwards.

It’s not uncommon to go to an in-networkhospital and be seen by a prohibitively expensive out-of-network specialist at that hospital.

HMOs typically have lower premiums up front, but higher out of pocket expenses later.

Everything is routed through your PrimaryCare Provider, they make decisions about your health and you can’t see a specialist withouta referral or pre-authorization from your insurance company.

That doctor acts as a gatekeeper for yourhealthcare… which would make the insurance company the keymaster? The other end of the spectrum is a PPO orPreferred Provider Organization, where you don’t have a primary care provider decidingon what specialists you see or what care you receive.

The premiums are higher but the out of pocketexpenses are lower.

They typically have a larger network thanHMOs and out of network care is significantly cheaper, you don’t need a referral or pre-authorization.

So it costs more to have more control andmore choice in your healthcare.

That’s how capitalism works right? More choices and competition leads to higher-wait… And then you have all sorts of programs inbetween.

Like the Exclusive Provider or EPO, whichis similar to a PPO, but out of network costs more and you might need pre-authorizationto see a specialist.

Then there’s Point of Service, which islike an HMO but out of network costs less and nobody abbreviates it.

It’s a mess and even the definitions I justgave you vary from company to company and state to state.

But in general, those are your options, yetanother variable to add to the list.

But wouldn’t it be great if we could justcut out the middleman and pay for our own health care? Yeah, or you could- Shut up this is America.

Some people have the option of getting a HighDeductible Health Plan or HDHP, which have extremely low premiums and extremely highout of pocket costs.

But it unlocks the ability to create a HealthSavings Account.

An HSA is very similar to an IRA retirementaccount, any money you pay into it is tax free and as long as you only use it to payfor your insane healthcare costs, it doesn’t get taxed on the back end either.

But wait, it gets better.

Just like an IRA, you can invest your HSAmoney, growing it potentially infinitely… which you also don’t have to pay taxes on.

This is why they call them triple tax shelters.

If you’re like me, you’re already googlinghow you can open one of these up, and I’ve got some bad news for you.

You can only open an HSA if you have an HDHP.

If you’re on any other form of health insurance, or even no insurance, this option is not available to you.

And unless you’re perfectly healthy, that’sprobably a good thing.

The astute amongst you will have noticed thatI haven’t given you any numbers for these programs… and there’s a reason for that.

Not all HMOs and PPOs are created equal.

Another good thing the Affordable Care Actdid was to establish a standardized tier system for health insurance, so people looking onthe marketplace can actually price compare and shop around.

The absolute lowest level is called Catastrophicinsurance, these are typically your HDHPs, gamblers who are saving up their money andhoping they never get sick or end up in a car accident.

That’s about the only thing these planscover – emergency services.

In America, all health insurance plans, regardlessof type or tier, cover emergency services in- or out-of-network.

Though once you’re stable you better leavethat out-of-network hospital or the bill will give you a heart attack.

Which just repeats the cycle.

Catastrophic plans are like only having liabilityinsurance on your car, it really only helps you in the worst of situations, otherwiseyou’re on your own.

You also have to be under 30 to get it, whichmeans it doesn’t apply to me anymore so- I mean, it does apply to me for the next fiveyears.

The four main tiers of the Affordable CareAct are bronze, silver, gold, and platinum.

The better the metal, the more you pay inmonthly premiums, but also, the lower your out of pocket costs when you actually receivecare.

The ACA defines these tiers by the averagecoinsurance for the plan, they call this the actuarial value.

For Bronze, the actuarial value is 60%, theypay an average of 60%, and you pay 40% in coinsurance.

In Platinum, you pay 10% and they pay 90%.

Again, this is the average, for some servicesit might be 92% while others might be 85%.

At the end of the year you might find thatyou actually paid 11%.

The actuarial value is the only definitionfor the tiers – premiums, deductibles, and MOOPs can be all over the place.

There’s really no way for me to comparea Platinum HMO to a Silver PPO or a Bronze POS.

Making this another determining factor inyour overall healthcare costs.

But for the sake of an example, let’s justpick one: gold.

The average monthly premium for a gold-tierplan is $597 a month for an individual and $1252 for a family.

The beauty of family plans is that it usuallycosts the same whether its two people or seven.

If you’re getting a gold plan through youremployer, they might be paying for some of it.

If you got it through the health insurancemarketplace, healthcare.

gov, you might be getting subsidies to help.

But for our purposes we’re just going tostick to the base cost.

So, let’s say you need those $3000 stitches.

An individual gold-plan deductible can rangefrom $1000 to $5000, but the average is $1320.

Remember, you pay that much before insuranceeven kicks in.

The remaining cost is shared between you andthe insurance company at a 20-80 split, only costing you an additional $336.

The average individual gold plan MOOP is $5878, so we’re not even coming close to stage three.

In the end, those $3000 stitches cost only$1656, just over half, wow, it’s a good thing you had insurance… You forgot ab-Son of- yeah, as most people do, I forgot about the premiums.

On top of the stitches, you paid $7164 inpremiums, bringing your total health care costs for the year to $8820.

Here’s the same scenario for the averagegold family plan.

As I’ve said, it’s impossible to knowwhether an uninsured person with the same $3000 injury would fair better financially… But it is possible.

And while the person writing the $1600 checkwhile paying monthly premiums is going to feel a lot more financially secure than theperson cutting $3000.

.

.

The economic realities of healthcare costsin America don’t care about your feelings.

Now, I picked gold as an example because ithas an actuarial value of 80%.

Which is the exact same as Medicare.

Medicare is a socialized health insuranceprogram that covers 59.

9 million Americans, most of which are over the age of 65.

It is the largest single provider of healthinsurance in America.

I briefly covered Medicare and how it’sfunded in my video on welfare, along with another program for poor people called Medicaid.

Medicaid is run at the state-level.

So while it covers 74 million people, they’respread across 54 different state and territory programs that all set their own requirementsand pay outs.

A single person in Alabama must make lessthan $771 a month to qualify for Medicaid.

The average panhandler makes $25 a day beggingfor money on the corner – if they’re out there every day this month.

.

.

Maybe take Halloween off, is all I’m tryingto say.

Medicaid benefits depend on your income level, at the lowest you’re paying single digit copays and at the highest, 20% coinsurance.

Just like Medicare.

But while Medicaid is a complicated welfareprogram, Medicare is not.

It’s government-subsidized health insurance.

Every American who works pays into it witha 1.

45% FICA tax, which is also matched by your employer.

If you contribute for ten years, you get fullMedicare when you turn 65.

Medicare is not free, it’s also not simple– but since it currently covers 20% of all Americans and presumably will cover all ofus once we’re old enough, it’s worth looking into.

I need to start by saying that this is justan overview.

Most of my audience is several decades awayfrom Medicare, so if you’re currently in the process of enrolling, please speak toa professional, this is just an introduction.

There are entire channels dedicated to explainingMedicare – we’re just going to scratch the surface.

Medicare has four parts.

Part A is for inpatient services like overnightstays at a hospital.

For the vast majority of people, there areno premiums for Part A.

But there is a $1364 deductible and a complicated copay and coinsurancetable.

Medicare Part B is for outpatient serviceslike regular doctor visits.

This does have a monthly premium for mostpeople, but before I tell you what it is, remember that you’re getting an actuarialvalue of 80%.

$135.

50 a month – regardless of who youare.

But we’ve learned that low premiums usuallyequate to a high deductible so- $185 deductible.

So because stitches are usually an outpatientprocedure, we can figure out that those $3000 stitches would cost you $748 out of pocket.

And $2374 a year in total expenses.

There are no family plans in Medicare, it’sjust for the individual retiree, and these are by far the cheapest stitches we’ve comeacross so far.

But there is a catch.

Medicare Part A and Part B, collectively referredto as Original Medicare, have no maximum out of pocket limit.

You pay the same 20% coinsurance to infinityand beyond.

Which is why we need to talk about MedicareSupplement Plans, also known as Medigap plans.

These add a MOOP, as well as reducing yourcoinsurance.

This is an addon run by a private insurancecompany that doesn’t get to decide what or how much they cover, that’s dictatedby Medicare.

They do get to decide what to charge you though.

Alternatively, you can scrap Original Medicarealtogether and opt for Part C – better known as Medicare Advantage.

This is a private insurance plan that takesthe place of Parts A and B (and sometimes D) and acts as its own supplement, so youget a MOOP.

You pay your premiums to them, rather thanMedicare.

Now the insurance company gets to make decisionsabout your healthcare, instead of the government.

And it is required to give you that same 80%actuarial value… in theory.

In practice, the HHS Inspector General recentlyfound that 56% of people on Medicare Advantage were denied necessary treatment simply formonetary gain.

I know, right? I was just as shocked as you.

About 36% of people eligible for Medicareopt for Medicare Advantage, so when you hear someone complaining about Medicare… There’s a decent chance they’re not actuallyon Medicare.

And I’ll give you one guess as to whichPart ends up with the most waste, fraud, and abuse… It’s actually Part D, which is your optionalprescription drug coverage – but before you get mad at me for the bait and switch, both C and D are run by private insurance companies.

I’m not kidding, Part C and D waste, fraud, and abuse is rampant, you can find the powerpoint presentations from HHS online.

The problem is that when the news tells youabout Medicare waste, they usually leave out which Parts are causing that.

And when they talk about healthcare statistics, they neglect to mention that a third of the people are actually on private insurance.

The 59.

9 million number I cited earlier isOriginal Medicare and Medicare Advantage put together.

There are 44 million people on just OriginalMedicare.

And 90% of them don’t use Medicare exclusively, they get a Medigap supplement plan or a Part D Prescription plan, or both.

Prescriptions aren’t usually covered byhealth insurance.

Even in countries with universal socializedmedicine, dental, vision, and prescriptions are usually separate.

And prescriptions drugs are even more of amess than healthcare.

Each Part D plan has a list of prescriptionsthey cover called a Formulary, you’ll need to look over that list when choosing yourplan.

I hope you accurately predicted what medicinesyou’ll need in the future.

Americans pay the absolute highest pricesin the world for medications, sometimes by an order of magnitude, and the main reasonis somewhat counterintuitive.

The UK has a single payer system known asthe National Health Service or NHS, every British citizen is covered for almost no outof pocket cost.

A total of 66 million people.

The government negotiates prices with drugcompanies, knowing that they will be the only supplier of that medication to 66 millionpeople.

So they get a pretty good deal.

There is no equivalent in the US, the governmentdoesn’t negotiate or even really regulate prices – the best we have is Medicare with44 million people.

And there’s a reason they pay the least.

Counter to the common capitalist perceptionthat competition and choice drive down prices – at least when it comes to healthcare – marketshare seems to have much more influence.

The more people you are negotiating on behalfof, the lower your prices.

But also, it costs a lot of money to developtreatments and medications, so most companies want to make the largest return on investmentas they can.

But when you’re selling to the UK and Germanyfor such low prices, where are you going to make your money? The country that isn’t negotiating on behalfof 320 million people and has little to no regulation regarding price ceilings.

Why do they charge so much? Because they can.

The common argument against adopting a systemlike the UK is that they are incredibly overtaxed.

So let’s get our calculators back out andcheck.

The median household income in the UnitedStates is $59, 039, assuming just the standard deductions for a single person, you wouldbe paying $10, 804 in federal taxes – both income and FICA.

I have a video all about income taxes if youwant to know the actual math behind that.

If you took that same income and went to theUK, after converting to pounds and then back again, you are paying $14, 451 in nationaltaxes.

This includes your income tax and the NationalInsurance tax, which is like our Medicare tax but, significantly larger.

Side by side, if you make the median householdincome in the US, you are paying 18.

3% in federal taxes, if you took that to the UK, you’d be paying 24.

5%.

.

.

but remember, healthcare is included.

If you want healthcare in the US, the averageannual employer-based premium across all types and levels for an individual is $6896 a year.

So in reality, you’re paying 30% of yourincome in taxes and health insurance – and that’s not even considering what happensif you actually get sick.

In the interest of being thorough, if youdouble the median income to $118, 078 and were married with two kids – you would be payingsignificantly more taxes in the UK.

However, your healthcare expenses don’treally change, whereas the average employer-based health insurance premium for a family is overtriple that of an individual.

So a US family is still paying more in taxesand healthcare – even if they never go to the doctor.

The UK does have a Value-Added Tax, or VAT, of 20%.

But their cost of living is about 7% lower, so once you consider sales tax in the US, prices are pretty comparable.

A Samsung Galaxy S10 costs about $15 morein London than New York.

And a Big Mac is a dollar fifty cheaper.

The quality of these products are pretty muchthe same wherever you go, but for some reason, we insist that US healthcare is the exception.

That has to be the last variable on our list, American stitches are just inherently better than UK stitches.

No, most people already know this, but theUK, Canada, Australia, and most other industrialized countries beat us in just about every healthcaremetric.

Life expectancy, infant mortality, maternalmortality, the list goes on.

But generally, these numbers are close enoughthat you can say that the US is basically on par with everyone else.

But per capita, we’re paying double whatthey are.

Objectively, the UK does have longer waittimes, from a few more minutes in the ER to a week or two for a specialist.

But I want to challenge your assumptions here.

If waiting a little longer drastically reducescost, but doesn’t negatively impact healthcare outcomes… How important is it to be seen right now? Can you zoom in and say the US is better ina specific field like heart transplants or post-op complications? Sure, but overall, we’re not getting whatwe’re paying for.

Which is why we’ve been arguing about howto change this system since forever.

But we might actually do it this time.

I’m obviously not going to talk about allof the proposals, because you’ll never hear from most of these people ever again.

So let’s just focus on two.

Mayor Pete is proposing a Medicare opt-inplan or “Medicare for all who want it.

” This is just a reskin of the classic “PublicOption.

” This would open up Medicare to anyone, ifyou’re uninsured, you’re automatically on it, if you get health insurance throughyour employer, you can switch, but otherwise nothing changes.

Unless your employer wants to switch to Medicare, in which case you don’t have a choice.

It would also make a few smaller changes likeadding a Medicare MOOP and capping out-of-network costs.

Most people wouldn’t see any changes totheir healthcare.

Which isn’t very exciting, so let’s talkabout the plan you all want me to – the Medicare for All proposal from Kristen Gillibrand.

She’s not even running anymore.

You won’t let me just have- Fine, let’stalk about Bernie Sanders.

Bernie’s Medicare for All plan would basicallyturn our healthcare system into the UK’s, with a single payer government health service.

But with dental, vision, and prescriptionsincluded.

Like the UK, there would be no premiums andlittle to no out of pocket expenses.

It also abolishes private insurance.

No more employer-based health plans, no healthcaremarketplace, no deductibles, no premiums, no channels completely dedicated to demystifyingMedicare.

You and your doctor will make decisions aboutyour healthcare, not a private corporation.

Instead, the government would be the third-partypayer.

How they would pay for this is always a pointof contention and oftentimes the question is intentionally worded poorly.

How much are your taxes going to go up? And you said… How much are your costs going to go down? No, different question, how much will yourtaxes go up? No, it’s how much are your costs, becauseit’s- This sounds like a dodge because she’s tryingto reframe the question.

Taxes will go up, primarily for the wealthy, but likely the middle class as well.

But remember, even if your taxes went up by50%, the fact that this expense no longer exists means you are still better off – andyou won’t pay much more, if at all, when you need medical care.

This would also reduce the overall bloat inour system that contributes to the high cost.

Your HR person has to pick a health plan, hospitals and doctors need to hire special billing coders, the insurance company needsclaims specialists, and youtubers need to make videos explaining it all.

I’m positive we can do better than this.

But if you insist on keeping your healthcareexpenses unnecessarily high, even under the proposed Medicare for All, might I suggestgetting into vitamins and supplements? An industry you can learn all about by goingto curiositystream.

com/knowingbetter.

CuriosityStream is a subscription streamingservice that offers over 2400 documentaries and nonfiction titles from some of the world’sbest filmmakers that you can access across multiple platforms.

Learn all about vitamins and the industrythat sprung up around them in this documentary hosted by fellow youtuber, Veritasium.

Even though I know most of us don’t reallyneed to take vitamins, I can’t seem to help myself.

You can get access to their entire libraryfor as little as 2.

99 a month, but if you head over to curiositystream.

com/knowingbetterand use the promo code knowingbetter, you can have the advantage of getting your firstmonth completely free.

As well as getting access to Nebula, the newstreaming service put together by youtube creators to have a space to create videoswithout worrying about algorithms and demonetization.

My channel, as well as many of your otherfavorites, can be found there, including several original series.

By joining CuriosityStream and Nebula, you’llalso be supporting the channel.

Full disclosure, I have no horse in this race.

I am a service-connected, disabled combatveteran, I get my healthcare through the Veteran’s Affairs hospital – which isn’t a healthinsurance program.

It’s a self-contained system and a bottomlesswell of asterisks.

So I’m not complaining about the systemand talking about proposals for change for my personal benefit.

I also had no reason to give myself all thatmath homework.

It took me a month of daily research to figureall of this out and present it to you and that alone should tell you this is overlycomplicated.

Luckily, I don’t do anything else with mytime.

So now, as you’re watching debates abouttaxes and reading news articles about rising premiums, you’ll actually understand whatthey’re talking about, because now, you know better.

If you hadn’t noticed, I made some improvementsto the set, so if you’d like to add your name to the chargemaster, head on over topatreon.

com/knowingbetter, or for a one-time donation, paypal.

me/knowingbetter.

Don’t forget to copay that subscribe button, check out the merch at knowingbetter.

tv, follow me on Twitter and Facebook, and join us onthe subreddit.

.

Leave a Reply

Your email address will not be published. Required fields are marked *