YourCreditCompany.com Official Blog

As we write, the House has passed the Healthcare Reform Legislation and the Senate committees claim to be in the latter stages of bickering and bartering.  It seems to us that no matter how this bill finally shakes out, many, most, maybe all current insured plans will go up on average 10% or more in price.  Honestly, we are not in the business of, nor do we have any agenda to predict specific outcomes of still unknown precursor events.  We do however possess a huge interest in the resulting impact of Washington’s decisions upon your lives, your family budgets, health-care and far reaching tough choices facing and every one of you. 

This is serious business.  Scary business, and potentially categorically life-altering in a bad way for those of you presently covered by private insurance and are accustomed to medical care “on demand”.  Why?  The confluence of several problematic developments all at the same “wrong” time. 

In the age of depleted investment account balances, income loss, and certain proximate inflation and tax increases, health-care reform legislation certainly equates to health-care inflation; the cost of your medical care insurance premiums are going up; maybe a lot and real soon.

To top it off, the two promised blessings of state to state purchasing competition, portability (across state lines) and non-specific pre-existing condition waivers have been legislated out of the House version altogether.  So, in our view, the primary capitalistic, free market equalizer of “many companies” and “many states” is gone.  This in addition to the extra premium “enhancements” and newly invented benefit(s) restrictions spells BAD DEAL for most of you reading this report.

For some of you presently participating in large employer group plans this could translate to horrendous news coming at the worst possible time of squeezed salaries, bonuses and profits for businesses. 

We keep digging and as we do, certain fundamentals of the health-care provision also come home to roost at squarely the least opportune time.  Isn’t this how Murphy’s Law always seems to work?  Moreover, plain old supply and demand economics; Econ 101 must eventually rule the day. 

How basic is a serious shortage of doctors?  As Herbert Pardes, President and CEO of NY Presbyterian Hospital quipped in the Wall Street Journal editorial “our aging population is challenged enough. Try to get an appointment (doctor) after health-care reform”.  That “none of the health-care reform proposals (including the House approved plan) addresses a fundamental problem that will soon face this country; a critical shortage of doctors.  If the doctor shortage is not addressed and health-care reform is signed into law, millions of Americans will likely find themselves able to obtain insurance for the first time, but may be unable to find a doctor without a long delay.   Why? Because expanding the number of insured patients will only increase the demand for services that already must meet the demands of an aging population”.

As our job is to identify problems and opportunities, not just whine about what’s wrong with the world with the world, we firmly implore you make a deal with your doctor(s); all of your present or desired health-care providers NOW.  Offer an arrangement whereby you contract for a year or longer with each care proved for a pre-arranged fee structure and insurance reimbursement procedure along with your service expectations/requirements. Just like you would do with any other professional service provider.  Defeat the unelected political body that will dictate future medical decisions; the rationing commission. It is already here and coming on stronger with unilateral power. 

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