It was easy to foresee current troubles with the ACA
The world isn’t fair. But we cannot just wait for things to get better, as many do by failing to vote at election time. We have to act, as Dr. Claudia Fegan states in her recent Guest Expert column “Amid ongoing drama over healthcare reform, there’s another solution hiding in plain sight” (July 24, p. 25).
As a former healthcare executive, I predicted exactly what has occurred under the Affordable Care Act: premium escalation and departure of companies with unprofitable lines. This situation should not be a surprise to anyone in the healthcare field.
Given the fact that large insurance companies have a cadre of well-paid experienced actuaries, shouldn’t they also have known that sicker people would sign up for insurance and, given relatively minor tax penalties, the healthy ones would not? What exactly were these executives thinking? That they would get the usual corporate welfare
The insurance industry’s bet on Washington’s largesse did not pan out and some are taking their marbles and going home. But this leaves millions of consumers in dire straits, with continuing tremendous premium increases. Of course the GOP-led Congress and the Trump administration haven’t helped make the ACA any more tenable.
When I was director of health planning for the state of Georgia back in the ’70s, healthcare was about 8% of the gross domestic product. Now it is more than double that; soon it will be triple. With other priorities facing the nation, we simply cannot afford to have healthcare expenses continue to grow at that rate.
Warren Buffett, no socialist, was recently interviewed by “PBS NewsHour” (June 27). During the discussion, Buffett said that because of all the above, a single-payer healthcare system seems to be the only viable option for America.
The only way to cap excessive healthcare spending is through Medicare for
All and centralized budgeting. When you examine every other developed nation, you find that all have universal coverage, and every last one of them does a better job of controlling healthcare costs, with better outcomes.
Jack Bernard Peachtree City, Ga.