What are your concerns about health care and insurance? Affordability of either and or both is likely at the top of the list. Affordability. What drives the price of an item in a free market? Availability or supply of the product is one dynamic at work in the market. The other is demand for the product. Demand for the product directly affects the supply. If no one wants it, there is no problem finding it on the shelves!
Health care is an item that at some point we all want or need. I’ve never experienced any problem finding health care. Apparently there is no shortage of the product. So why is the price so high? In the free market there are two dynamics at work which drive the price of the item. Supply and demand. I don’t have a problem finding a doctor so I shouldn’t have a problem affording one. There are other dynamics at work driving the cost of health care. I can’t pay my doctor for only his service to me. I also have to pay a portion of his overhead like electricity, insurance, gas, insurance, rent, insurance, payroll, insurance, water, insurance, taxes and, oh yes insurance.
Ok, so let’s see. I buy insurance to help me afford to pay my doctor. My doctor charges me his fee plus a percentage of overhead that includes an eight hundred pound ape that answers to the moniker of Malpractice Insurance. I am not likely to sue Doc but he can’t take any chances. The bank doesn’t like my chances of driving a car they own so they require me to have insurance. I buy the insurance because they don’t like my chances while driving their car. I buy doc’s insurance because he doesn’t like the odds of me turning toes up and getting blamed by my loved ones. My loved ones only want justice for their dearly departed and it just so happens their friend is a lawyer who hasn’t had a decent payday in awhile. Now we’re getting some where.
Health care cost will remain high until we get the lawyers out of Doc’s office. With that done he can fire his insurance agent. I have good friends in the insurance business. They have a place in life. I just haven’t decided where yet. I also have good friends who are lawyers. I figure they can go to the same place the insurance agents find. Just get out of Doc’s office because he and I don’t need the added expense.
Now in regards to what just happened on capitol hill, we knew Obama was lawyer to begin with.
Stay well folks,