Elective Procedures

On another thread @KenH misunderstood insurance coverage to be socialism. This (not his ignorance of economics but insurance coverage itself) does bring up some interesting issues.

The issue is whether insurance companies should provide for elective procedures.

I believe they should, but that this should be an option (like choosing coverage when you purchase an automobile policy).

I don't mean you choose a single elective procedure (you could still save, but the cost would be spread over too small a population).


An example would be somebody wanting insurance to cover IVF. Insurance companies could provide a coverage option that would cover such procedures under a coverage option. The individual would benefit from negotiated prices based on a general policy. But the coverage would be either less than a general treatment (a higher cost share) or the permium for the policy woukd be substantially higher.

In the end the market would determine the policy.

 

I have 2 degrees in Theology. That does not mean I am always correct. And yes, I am aware that working as an accountant does not equate to knowing economics.

I am just going off of your post. You equated health insurance to socialism.

In college did they teach you that insurance is socialism or did you grow into that understanding?


My observation (yes, I also took economics in grad school.....accounting as an undergrad but I absolutely hated it) is that you do not grasp economics based on your use of "socialism".

I would have thought that a former accountant would use words correctly (such attention to detail seems to go along with the profession).

I do not understand how anybody who took even a high school class in economics woukd confuse health insurance with socialism.

I think you were just carried away by your emotions (as evidenced by your constant statement that you will not respond as an adult defends his or her arguments).

The reason I believe this is you should know the definition of "socialism" even though your post indicates otherwise.

 

Regardless of @KenH 's education as an accountant:

Socialized medicine is, by definition, a healthcare system in which the government owns and operates healthcare facilities and employs the healthcare professionals, thus also paying for all healthcare services.

Health insurance, even if covering elective procedures, is not socialism.

If IVF is covered under health insurance this is still not socialism.

Why?

The government is not paying for the service, the medical employees are not employed by the government, and the government does not own and operate the facilities.

 

I did not attack you. I did not make a personal attack against you. I posted nothing false or vicious.

I said that you were wrong. I said that insurance is not socialism.

The government dies not own the insurance company. The cost is paid by the insurance company and is spread to the policy owners. The government is not paying for the medical procedure, the employees are not government employees, and the government dies not own the facility.

Stop pretending everybody who disagrees with you is attacking you. Stop being so controlled by your emotions.

You simply made a false statement and I responded that you were wrong. Insurance is not socialism. Insurance covering IVF is not socialism.

 

Another example of a program often misrepresented as socialism is the social security system.

This is a system that we pay into for a very moderate return on our investment (about 4%, but it depends on several factors).

It is really a poor investment when you consider that tge employer contributes as well, typically more than the individual.

Thus far I have contributed about $78,000. My employer has contributed about $80,000.

If I retire at 62 I'd receive about $1740 monthly. My total return woukd be based on how long I live.


Medicare is similar as we pay into the program.



The government paying off student loans. fixing costs, etc. are socialistic. So are many agricultural and welfare programs.

Our government can have socalistic programs without being a socialist government.