Tuesday, February 5, 2019

Private Health Insurance: Pros and Cons

If ever you have any doubts about the relative virtues of the American commercial health care system, aka private health insurance and National Health systems, rather than focusing on the horror stories about socialized medicine in Europe and Canada, where, our American Republican politicians tell us (as if they know) there are death panels deciding who can get chemotherapy or waiting times of years before you can get your hip replaced, consider this: Has the American system become so corrupted that however bad the European national health systems may be, how much worse can they be than what we've got?

Oh, we all know some healthcare insurance plans are "Cadillac" plans, negotiated, for example, by unions over years and providing wonderful coverage for doctors' visits, hospitalization and even drugs. 
Sheelah Kolhatkar

But, after you ask yourself, "Do I have such a wonderful plan?" ask yourself what this passage, from the Sheelah Kolhatkar's New Yorker  article "The Whistle Blowers" might mean. Here she is describing the home Kiran Patel is building himself with the money he made from the health insurance conglomerate he fashioned, combining WellCare with Freedom and Optimum Healthcare. 

"The residence will be a cross between the Taj Mahal and Versailles--a sixty-eight-thousand square foot palace with a fountain, a twelve-car garage, a Hindu temple, domed pavilions, and latticework made of red sandstone imported from Rajasthan. There will be separate building for Patel's three grown children and their families, spread across seventeen acres that abut White Trout Lake, which is celebrated for its sunset views. The estate's centerpiece is a grand ballroom."
Kiran Patel

This from money made from health insurance here in the USA, mostly from billing Medicare.

You will say, well, I need to know more about Mr. Patel and how he was able to become so rich, as an entrepreneur. Perhaps he is simply more brilliant and more hard working and more of a risk taker than his fellow cardiologists. Maybe he made this money, fair and square. Maybe he deserves this. After all, we are a capitalist society. You cannot be envious of the winners.

Really? Do you really believe that?

Or do you believe, with Balzac, "Behind every great fortune lies a crime" ?


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