By Bill Rusteberg
If health care costs less without insurance, then why have it? There can only be one reason……. It’s all about financing, nothing more and nothing less. It has nothing to do with health care.
Health insurance policies are usurious contracts taking advantage of others’ misfortunes. Finance charges are far greater than the average APR on credit cards of 27.81%. The de facto “interest rate” charged accessing health insurance funds is north of 50%.
Each premium dollar passes through multiple value draining channels earning billions of dollars for a horde of middlemen, co-conspirators in a system driven by greed. Each dollar attrits by more than half leaving the remaining value to overpay inflated health care costs controlled by invisible third parties lurking in the back of the examining room.
Plan sponsors are waking up. They know cash prices beat the best discounts that Aetna, Blue Cross, Cigna, and United HealthCare can only dreamed about. They know they can establish a Health Reimbursement Account, fund it with cash, enabling plan member access to needed medical care. And they know how to protect against high and unexpected HRA overdrafts by placement of an overdraft protection casualty policy. They know there are minimal finance charges, if any, for cash transactions. That’s smart financing.
They know they don’t need a traditional TPA, managed care network, or PBM anymore. Cash has it’s own universal network of providers. Check your phone book for a complete listing.
Instead, they engage a tech-based care navigation team to guide plan members through the Great American Health Care Maze for best results.
This is health care financing that makes sense. Such is the future of group health insurance in America. And it’s happening right now.
