Author Topic: Munger Says We Will Have Single Payer  (Read 7800 times)

meiroy

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Re: Munger Says We Will Have Single Payer
« Reply #60 on: October 13, 2018, 10:47:24 PM »
rukawa,

Thank you for your detailed reply. I've beeen a few times to Singapore. The health care system, in practice, is actually mostly Government run and the government pays for many of the public health services, public hospitals and doctors.  It plays a heavy role in keeping costs down and insurers have to compete within this cost frame.   Either way Singapore is a very unique type of an economy, similar only to Hong Kong, perhaps.  The U.S. has little to do with Singapore and cannot be Singapore even if it wanted to.



Cigarbutt

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Re: Munger Says We Will Have Single Payer
« Reply #61 on: October 14, 2018, 08:38:02 AM »
This post is for American "friends" who are reflecting on ways to improve their system based on factual analysis.
This post is not about which system is better.
https://www.msn.com/en-ca/news/canada/trump-calls-out-canadians-travelling-to-us-for-health-care-at-kentucky-rally/ar-BBOlip9?ocid=spartanntp

From data, Canadians do spend on US-based healthcare but most of the money spent results from unpredictably becoming sick in the US while being in the US for other reasons (tourism, business etc). There is a small segment of the population who chooses to go to the US for medical care and some of these cases can involve celebrities and political figures. The main reasons to go abroad: certain heart surgeries, substance abuse centers and experimental cancer treatments.

Estimates vary but, overall, between 1 and 3% of expenditures incurred by Canadians are spent in the US.

There are huge line-ups at the USA-Canada border (both directions) but it's not because Canadians are fleeing en masse to access US healthcare. Personally, the main reason I go to the US (frequent) is because I like to meet people there. :)
But when we go, we always buy complementary health insurance. Just in case.

meiroy

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Re: Munger Says We Will Have Single Payer
« Reply #62 on: October 14, 2018, 07:37:45 PM »
There are huge line-ups at the USA-Canada border (both directions) but it's not because Canadians are fleeing en masse to access US healthcare. Personally, the main reason I go to the US (frequent) is because I like to meet people there. :)
But when we go, we always buy complementary health insurance. Just in case.

Is the insurance expensive? Does it include emergency evacuation etc.?

I know that when expats, from any country, living abroad (e.g. a French expat in Vietnam) wanting to buy an international health insurance they are often introduced to two types: 1. global including the U.S.A 2. global excluding the U.S.A.  That by itself shows just how bad the situation is with the health system.

« Last Edit: October 14, 2018, 07:40:19 PM by meiroy »

Cigarbutt

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Re: Munger Says We Will Have Single Payer
« Reply #63 on: October 14, 2018, 08:38:47 PM »
There are huge line-ups at the USA-Canada border (both directions) but it's not because Canadians are fleeing en masse to access US healthcare. Personally, the main reason I go to the US (frequent) is because I like to meet people there. :)
But when we go, we always buy complementary health insurance. Just in case.
Is the insurance expensive? Does it include emergency evacuation etc.?

I know that when expats, from any country, living abroad (e.g. a French expat in Vietnam) wanting to buy an international health insurance they are often introduced to two types: 1. global including the U.S.A 2. global excluding the U.S.A.  That by itself shows just how bad the situation is with the health system.
Travel insurance for medical emergencies, from my perspective, has not been expensive (+ or - about 2 to 3$ per person per day of travel, sometimes much less with "promotions") whether the US is part of the itinerary or not. The process is fast and convenient and, if underwriting is of any interest to you, they tend to focus on a few key questions (inclusion and exclusion criteria) with some criteria of doubtful value and with other important criteria not even being considered if you succeed going through the basic screening. Worth trying a few competitors because criteria and resulting premiums can vary wildly (not an efficient market, it seems). This is the commodity product. No personal experience with utilization of the product but know of people who had to use it with no problems concerning access, payments (no need for upfront fees, deductibles or co-pays) and evacuation if necessary once the medical condition stabilizes. I have a feeling that the companies make decent underwriting profits on this even if premiums are low (low expense ratio, relatively rare claims).

However, I hear that the insurance premiums shoot up very fast when certain criteria are met which define your risk of being sick "suddenly" (age, certain pre-existing conditions, recent medical visit, medication change etc). In these cases, you have to go through a customized process and, if the US is part of your travel plans, premiums shoot up exponentially.

BTW, we take this type of insurance on international trips only for catastrophic medical events but when we go to the US, even a simple visit or a simple ailment can result in a catastrophic bill as care is more expensive and visitors are typically charged the highest margin multiple of the basic Medicare fee but the care received is usually excellent.