Social health insurance has several advantages for people and society.
Social health insurance is a political hot topic within the United States and is a misunderstood idea that is already in place in many other areas of the world. While critics say that a social health insurance plan is a threat to America's capitalist way of life, all the while focusing on the potential negative effects of such a system, social health insurance has some built-in advantages.
Larger Pool, Lower Premium
When insurance companies set their premium rates, they do it in a way that they believe will make them a profit. These estimations, which eventually lead to premium rates, are based on risk. Risk involves weighing likely policy payouts against the amount of money that will be taken in from premiums. When the group covered by the insurance is smaller, the risk is higher and usually translates to higher premiums.
A social health insurance program covers most everyone. Depending on the particular form of the system in place, the coverage may be spread around to several different providers or to one government-run provider---such as Great Britain. Either way, the social system pools are much larger and allow for lower cost to the insured or to the employer who foots the bill.
Fewer Deaths
According to Family Doctor Magazine, the result of a social health insurance plan would mean a reduction in overall deaths, including those among children from asthma and fewer cancer deaths in minority communities.
Family Doctor Magazine claims that emergency rooms would also see a huge decrease in ER use as a means of primary care. Prevention would also be improved, as people would not wait to go to the doctor until they were critically ill.
Pre-existing Conditions
The social health insurance plan, which comes in many forms, including the one being phased into the United States, makes denying coverage for citizens with pre-existing conditions illegal. This is an important advantage for many reasons.
Some people who become sick or have family members on their insurance plans who become sick are locked into their jobs permanently if it is a long-term medical condition, according to Trinity Med Care.
The reason is that insurance companies will not take on the person with the condition should you change jobs and go to a different employer who offers a different policy. This system of insurance will allow the worker to take on better opportunities that come along instead of staying at a dead-end job solely for the insurance.
Also, those who are laid off or lose jobs will not be without options for insurance since they cannot be denied for a condition.
Economy Boost
With lower costs to consumers and an increased overall wellness level that leads to more productivity at work, people will have more money to spend in local stores. Retail sales could increase as a result, fueling a rebound of a struggling economy.
Tags: health insurance, health insurance plan, insurance plan, social health insurance, become sick, Doctor Magazine, Family Doctor
