Category Archives: Free Market Utopian Fantasy

The $8,000 Rip-off That Is Healthcare

Picking up on a theme I presented in two earlier posts this year, Health Care is Not a Market  and The Free Market Utopian Fantasy, Joe Paduda today asks “what would you do with another $8,000?”

Joe’s post outlines how providers, big pharma, device companies, and healthplans make money from a system designed to do so, and not to help you and your family stay healthy and functional. [ Emphasis Joe’s]

He shows us graphically how big health sector profit margins are, how we spend more than any other country, but die younger, and how healthcare premiums and deductibles and out of pocket costs keep climbing, but wages do not.

His one key point, is the following:

Healthcare is not, and cannot ever be, a free market. A free market requires buyers have the ability to make sellers respond to buyers’ needs – yet we all know we consumers have zero ability to make pharma, hospitals, big doctor groups, device companies respond to our needs.

Lastly, Joe asks the question: “If air travel worked like health care?” [Video link]

Would you rely on the airlines with your health care? Would you rely on the health care industry to fly you to your nephew’s wedding in Orlando? Of course, not.

So, why would you continue to defend, support and protect a dysfunctional, broken, wasteful, bloated, health care system that does not work like the free market, but only makes huge profits for the insurance companies, drug companies, device manufacturers, hospitals, investors, stock and shareholders.

And yes, you hanger’s on in consulting and research organizations who constantly attack single payer health care because it, one, puts you out of a job, and two, takes away any profits you and your company makes from advising  on or researching how to squeeze more profit out of the system.

One thing is for certain. I could sure use that $8,000 right now. My health care and other issues have taken a lot more from me than $8,000, but I’d settle for that. Wouldn’t you?

The Free Market Utopian Fantasy

Whenever the subject of what to do about the cost of health care arises on the social media site, LinkedIn, invariably there is someone who attempts to deflect the discussion away from the logical solution of Medicare for All/Single Payer, to what I am calling the Free Market Utopian Fantasy.

Those of you who read my post, “Health Care Is Not a Market”, will understand that when it comes to health care, the rules of the market do not apply. That is why I have called the attitude and comments made by these individuals, the Free Market Utopian Fantasy. Because the free market in health care is a fantasy. It is usually the expression of economic libertarianism coming from the right-wing propaganda machine.

Simply put, the Free Market Utopian Fantasy states that if we only had a truly free market health care system, costs would regulate themselves through competition, as in other areas of the free market.

In fact, one observer recently said the following in a thread on LI: “This would not be the case IF there were created and implemented an ORDERLY market for health care services based upon free market enterprise principles whereby ALL costs are transparent to ALL parties.”

An orderly market? Are you serious? More of the same BS from the Free Market Utopians.

Then there is the idea that consumers, read that as patients, must educate themselves as to the best choice. Choice? When you are dying of a heart attack? Choice, when you only have a short time to live due to a serious illness like Cancer or Diabetes?

Folks, we are not talking about choosing between buying steak or chicken. This is not choosing to go to Italy next summer or to the Caribbean. We are talking about life and death. And the only choice is to do what will save your life, not choose between colors on a swatch.

This Free Market Utopian Fantasy has infected so many people in the health care industry, and they are trying to prevent the American people from receiving the same quality of care at lower cost than all the other Western and other nations already do for their people.

They claim that we can’t afford to do it. I ask, can we afford not to?

They cite statistics about Medicare like some cite similar statistics about Social Security, but they are wrong then, and they are wrong about Medicare for All, because it will be expanded to cover everyone and everything, not requiring separate insurance for things like vision and dental care, mental health, and long-term care.

Here is what one person said in the same thread cited above:

“We can barely afford Medicare for the 60 million current Medicare recipients. Adding another 270 million recipients would bankrupt the nation in short order. Latest data (2017) on Medicare shows an annual cost of $700 billion, and projections show the Medicare Trust Fund will be insolvent in 2026 – and by the way, Medicare actually only covers about half of the real cost because the rest is covered by supplementary insurances that have to be bought by the patient. If you assume that Medicare expansion was at the same cost rate as current Medicare, Medicare for all would cost at least $3.15 trillion in 2017 dollars. Total 2019 federal government revenue is estimated at $6.5 trillion, and estimated Medicare for all costs for 2019 would be $3.5 trillion. It is simply not feasible.”

Boy, they really know how to BS their way to keeping us the only Western nation that does not have universal health care. What they don’t realize is, there won’t be any private insurance, because it is private insurance that drives up the cost of health care with administrative costs and waste,

Well, it is high time we call BS on all of them, and their Free Market Utopian Fantasy. Until we stop listening to these folks who are protecting their careers and profits, no American will never have to worry if they or a loved one gets sick and cannot afford the needed medical care without going bankrupt or dying without ever receiving the care they so desperately need. I said as much in my other post, “By What Right”, where I took these folks to task for preventing the enactment of MFA/Single Payer.

These Free Market Utopians are not doing anyone any favors. They are only hurting millions of Americans, born or not-yet-born who will someday need a truly comprehensive, universal health care system, and it won’t be there thanks to them and their associates.