🔗 Share this article

Out-of-pocket costs. Preferred providers. Out-of-network. Concierge medical services. Personal healthcare costs. Fixed payment. Shared insurance. Insurance consultants. Insurance brokers. Healthcare consultants. ACA. Health Maintenance Organization. PPO. Exclusive Provider Organization. POS. HDHP. HSA. Flexible Spending Account. Health Reimbursement Arrangement. Explanation of Benefits. Consolidated Omnibus Budget Reconciliation Act. SHOP. Single coverage. Family coverage. Insurance subsidies.

Baffled? It's understandable. Who comprehends all this stuff? Certainly not the average business owner. Nor the typical worker. Selecting the appropriate medical coverage for companies – or for our families – seems like it requires advanced expertise in healthcare.

The Healthcare System Is More Than Complicated, It's Costly

Based on recent research, typical households pays $27,000 annually for their health insurance (up 6% from last year). The average company healthcare expense is projected to exceed $seventeen thousand per employee by 2026, an increase of 9.5% compared to 2025.

Currently the government has ceased functioning due to political disagreements over tax credits that experts say will lead to a doubling of premiums for numerous US citizens.

When Will We Seriously Consider Universal Healthcare?

How soon might we seriously consider a national health insurance program here in America? I have to believe we're getting closer because this situation is unsustainable.

I'm not proposing government-run medicine. I'm advocating for our current Medicare program – an established insurance framework – merely extend to include all citizens. The existing system doesn't change. The way medical professionals receive payment would change. Believe me, they'll adapt.

How Universal Coverage Could Function

Universal healthcare coverage would need contributions from employees and employers. In comparable systems, a worker earning average wages must contribute approximately 5.3% toward medical coverage. The company must contribute about thirteen point seventy-five percent.

Does this seem expensive? Not if you compare that with what the typical American pays. I know dozens of businesses who are easily contributing anywhere from eight to fifteen percent of their employee wages for medical benefits. And keep in mind that with inclusive programs, those payments include pension plans, sick pay, parental benefits and unemployment benefits along with supporting medical services. When including those costs compared with our current spending on retirement programs, job loss coverage and vacation benefits, the gap narrows.

Implementation in the US

In the US, a national health premium would increase existing Medicare taxes, a framework that is already in place. It ought to be income-adjusted – those at higher income levels would pay more than lower-income earners. There would be both an employee and company payments. And, like much of our government's military, IT, social programs and infrastructure, the system should be outsourced to third-party administrators instead of a government office.

Advantages for Entrepreneurs

Universal healthcare coverage would be a huge benefit for entrepreneurs like mine. It would put us on a level playing field with our larger competitors that can pay for better plans. It would render administration much easier (a payroll deduction processed similarly to social security and healthcare taxes, instead of separate payments to insurance companies and insurance providers).

It would make simpler for us to budget our yearly costs, rather than going through the complicated (and ineffective) process of bargaining with major insurers required annually every year. Due to simplification, there would be a better understanding about benefits by our employees – contrasted with existing arrangements where they have to interpret the complexities of existing plans. Additionally there would certainly be less liability for companies as we no longer would be privy to our employees' medical records for weighing risks and different options.

Capitalist Perspective

I'm as capitalist as they get. However I recognize that government play important functions in society, from providing defense to funding needed infrastructure. Ensuring medical coverage for everyone via universal healthcare enhances economic foundations. It's a better, simpler approach for small businesses which hire more than half of American employees and generate half the economic output. It enables for workers to enjoy better health, have better attendance and be more productive.

Considering Challenges

Are there a million considerations I haven't covered? Of course there are. Given all the healthcare cost increases experienced recently, it's clear that current healthcare legislation isn't functioning very well. And I realize that America isn't a small, Scandinavian country where major reforms are easier to implement. But expanding universal Medicare, even with the additional taxes that would be incurred, would still be a superior and less expensive strategy for not only managing medical expenses and ensuring coverage to everyone.

Need for Realistic Evaluation

We as Americans, must reduce our own arrogance. America's medical care isn't exceptional. We rank significantly behind numerous nations with the best healthcare globally, based on major studies. Maybe one bright spot in this current situation could be that we undertake a hard look at ourselves and acknowledge that big changes need to happen.