What do you think about healthcare system in US?
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It's fantastic if you don't get sick.
I gave birth in October via c section and it cost $79,000. Thankfully I have great healthcare through my employer and in a high paying position. My out of pocket cost was about $1500. I do not understand how anyone who doesn’t have great healthcare (the majority of people in America) survive and it deeply saddens me.
Chief
That’s the issue, though, isn’t it? It is not a planned economy like the USSR; it is not a free market; it is some horrible abomination that defies logic.
The system needs to be razed to the ground and rebuilt from the ground up.
No visibility to prices keeps me from getting care because I don’t want surprises coming in through snail mail months later.
Insurance is dependent on employment which unfairly keeps people tied to their employers. Complex insurance system otherwise for part-time workers, gig workers, unemployed.
Rising Star
I would expect most large hospital systems are. I have a close family member who works in the largest health system in the state, and they have been working on this for over a year. It’s been a huge challenge because they’ve never had to come up with prices before based on actual costs. It’s all just been made up numbers thus far, which is just ridiculous.
But anyway, it’s happening in some places at least. And worth a phone call if you have a non-emergency procedure.
It’s fantastic if you live in the right places with access to high quality doctors and facilities and if you have great insurance to cover the costs. If you don’t, you either suffer in pain until you die or go bankrupt trying to live.
The worst!!!! Sure, medical innovation at cancer centers etc are first rate. But a Dr visit in the US is a pain in the arse to schedule, held in a dark depressing office, grumpy schedulers, insurance covers nothing… I lived in Thailand, you could just go see a Dr last minute, get right in, the 5 star facility was bright and modern and cheerful, the staff were polite and friendly, dr’s were US trained, and it was cheap!!! You could also get medicine right there without going to the pharmacy.
Rising Star
In terms of personal finance & investment? Really poor. Would far rather be able to know that huge potential cost (especially in retirement) was fully taken care of. Then could plan early retirement much more easily, without having to overshoot savings.
Also would allow more flexible work patterns if didn't have to be bound by employer health benefits.
Since you’ve posted this question in multiple bowls, I’m interested- what’s your opinion Sherry?
The root of so many problems are that the health insurance companies are for profit entities and have a monetary incentive to complicate the process and not pay for care. Look at the quarterly profits for the major health insurers. It’s sickening…
What’s fascinating is that actually insurance companies, by law, must pay a minimum of 80% of their premiums on medical care. They are capped on the amount allowed to profits and admin. I think our healthcare system is absolutely terrible, but rising costs are driven by pharma, med devices (their profit margins are wild), and hospital admin costs and profit margins. Weirdly enough, the insurance companies are the only ones incentivized by the system to keep actual medical care costs down.
Rising Star
I gave birth in the US, vaginal birth. My insurance paid about $23,000 and I paid about $2,500. I gave birth two years later in France (there health providers, hospitals, labs, etc. are private but health insurance is nationalized), and essentially the same birth, vaginal, cost 3,500 euros total.
I strongly dislike the American system.
Pro
The quality of care you can get is second to none. People come from around the world to get it. But access to it is absolute garbage. The system is so stupid on so many levels it's hard to fathom. And I've worked in healthcare for over 20 years.
Rising Star
It could definitely be better but one of the biggest issues we have is that we finance pharmaceuticals for the rest of the world. US companies go through strenuous drug testing and R&D and then companies in other countries knock them off and provide to their citizens for cheap since they didn’t incur the costs to innovate. It’s difficult to compare costs to other countries since they don’t have to adhere to US patent laws.
Not to mention the incredibly high obesity rates in the US which make it more difficult/expensive to treat people.
It’s fantastic if you’re wealthy!!
healthcare and insurance are best buddies and both are in it for the money, not the people.