🔗 Share this article

Out-of-pocket costs. In-network. Non-preferred providers. Premium health services. Personal healthcare costs. Fixed payment. Shared insurance. Benefit advisers. Coverage agents. Healthcare consultants. ACA. Health Maintenance Organization. PPO. EPO. POS. High Deductible Health Plan. HSA. FSA. Health Reimbursement Arrangement. Explanation of Benefits. COBRA. Small Business Health Options Program. Single coverage. Family coverage. Insurance subsidies.

Baffled? You should be. Who understands all this stuff? Certainly not the average entrepreneur. Nor the typical employee. Selecting the right healthcare insurance for our business – or for our families – appears to require it requires a PhD in healthcare.

Our Healthcare System Is More Than Complex, It's Expensive

According to a recent study, typical households pays $27,000 each year for their health insurance (up 6% compared to last year). Typical employer health insurance cost is expected to exceed $17,000 per employee by 2026, an increase of 9.5% from 2025.

Now the government has ceased functioning because political disagreements over subsidies that experts say could cause a doubling of premiums for numerous US citizens.

When Will We Truly Examine National Health Insurance?

When will we genuinely evaluate universal healthcare coverage in the United States? I have to believe we're approaching that point because this situation is unsustainable.

I'm not suggesting government-run medicine. I'm advocating that our already existing Medicare system – an insurance system – simply expand to cover everyone. Our infrastructure doesn't change. How medical professionals get paid changes. Believe me, they'll adapt.

The Way Universal Coverage Could Function

A national health insurance program would need contributions from both workers and companies. In similar programs, a worker earning moderate income pays approximately five point three percent toward medical coverage. The company pays about thirteen point seventy-five percent.

Does this appear expensive? Unless you compare that with what average US resident spends. I know dozens of clients who are easily contributing anywhere from eight to fifteen percent of their employee wages for medical benefits. And keep in mind that in inclusive programs, those payments include retirement benefits, illness coverage, maternity leave and job loss protection in addition to funding medical services. When you add these expenses versus what we pay for our retirement plans, job loss coverage and paid time off, the difference decreases.

Implementation in the US

For America, universal healthcare funding would increase our Medicare tax deduction, a framework that is already in place. It ought to be means-based – wealthier individuals would pay more than lower-income earners. There would be both an employee and employer contribution. And, like many federal military, technology, social programs and transportation services, the system could be managed to third-party administrators rather than federal agencies.

Benefits for Entrepreneurs

A national health insurance program represents a huge benefit for small businesses such as my company. It would place small companies in equal competition with our larger competitors who can afford better plans. It would make administration much easier (a payroll deduction remitted like retirement and Medicare taxes, instead of separate payments to insurance companies and insurance providers).

It would make simpler to plan expenses our yearly costs, instead of going through the complicated (and ineffective) theater of negotiating with the big insurance providers that we must do every year. Due to simplification, there would exist a better understanding about benefits among workers – as opposed to the current system which require them to interpret the complications of current options. Additionally there would certainly be reduced responsibility for companies as we no longer have access to our employees' health histories for risk assessment and alternative plans.

Free-Market Viewpoint

I'm as pro-market as possible. However I recognize that public institutions play important functions in our lives, from providing defense to supporting essential systems. Ensuring medical coverage to all via universal healthcare strengthens economic foundations. It's a better, simpler approach for small businesses which hire the majority of the country's workers and fund half the economic output. It enables for workers to enjoy better health, come to work more often and be more productive.

Considering Challenges

Are there a million considerations I haven't covered? Of course there are. Given rising medical expenses experienced in recent years, it's clear that the Affordable Care Act is not working very well. I understand that America isn't a small, Scandinavian country where major reforms are easier to implement. However extending Medicare for all, even with the additional taxes that would be incurred, would remain a better and less expensive strategy both for managing medical expenses and ensuring coverage for all citizens.

Time for Honest Assessment

We as Americans, we need to tone down our own arrogance. Our healthcare system isn't so great. The US places significantly behind numerous nations in healthcare quality in the world, based on major studies. Maybe one positive aspect amid current situation is that we take a hard look at ourselves and agree that major reforms are necessary.