🔗 Share this article

Deductibles. In-network. Out-of-network. Premium health services. Out-of-pocket expenses. Fixed payment. Co-insurance. Insurance consultants. Insurance brokers. Medical advisors. ACA. Health Maintenance Organization. Preferred Provider Organization. EPO. Point of Service. HDHP. HSA. Flexible Spending Account. Health Reimbursement Arrangement. EOB. COBRA. Small Business Health Options Program. Single coverage. Family coverage. Insurance subsidies.

Baffled? You should be. Who comprehends this complex system? Not the typical entrepreneur. Nor the typical worker. Selecting the right medical coverage for companies – or for households – seems like it requires a PhD in medical insurance.

Our Healthcare System Is More Than Complicated, It Is Costly

Based on a recent study, the average family spends $twenty-seven thousand annually on medical coverage (increasing by 6% from last year). The average employer health insurance cost is expected to exceed $17,000 for each worker by 2026, an increase of 9.5% from 2025.

Now the government is shut down because political disagreements regarding tax credits that experts say could cause a doubling of premiums for numerous US citizens.

When Might We Seriously Consider Universal Healthcare?

How soon might we genuinely evaluate universal healthcare coverage here in America? I have to believe we're approaching that point since this situation is unsustainable.

I'm not proposing government-run medicine. I'm proposing for our current Medicare program – an insurance system – simply expand to include all citizens. Our infrastructure doesn't change. The way medical professionals receive payment would change. Trust me, they'll adapt.

How Universal Coverage Would Work

A national health insurance program would need contributions from both workers and companies. In similar programs, a worker earning average wages pays approximately five point three percent to their healthcare. The company pays about thirteen point seventy-five percent.

Does this appear like a lot? Not if you compare it to what average American pays. I know multiple clients that are easily contributing between 8% to 15% of payroll costs for medical benefits. And keep in mind that in comprehensive systems, these contributions also cover retirement benefits, illness coverage, parental benefits and unemployment benefits along with funding medical services. When you add these expenses compared with what we pay for our retirement plans, unemployment insurance and vacation benefits, the gap narrows.

Implementation for America

In the US, a national health premium would raise our Medicare tax deduction, a system that is already in place. It should be means-based – wealthier individuals would contribute higher amounts than lower-income earners. This includes both an employee and company payments. Similar to many federal military, technology, social programs and infrastructure, the program could be managed by private contractors rather than a government office.

Advantages for Entrepreneurs

Universal healthcare coverage represents a significant advantage for small businesses like mine. It would put us on a level playing field against big corporations that can pay for superior coverage. It would make administration significantly simpler (automatic payroll withholding remitted like retirement and healthcare taxes, instead of individual transactions to benefit firms and coverage administrators).

It would make simpler for us to budget annual expenditures, rather than going through the complex (and fruitless) process of bargaining with the big insurance providers that we must do each year. Because it's simplified, there would exist a better understanding about benefits by our employees – contrasted with existing arrangements where they have to interpret the complexities of current options. Additionally there would definitely exist reduced responsibility for companies as we no longer would be privy to workers' health histories for purposes of risk assessment and different options.

Capitalist Perspective

I'm as pro-market as possible. But I've learned that public institutions has a significant role in our lives, including national security to supporting essential systems. Ensuring medical coverage to all via universal healthcare strengthens economic foundations. It represents superior, simpler approach for small businesses which hire more than half of the country's workers and fund half the economic output. It makes it possible employees to be healthier, come to work more often 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 we've seen recently, it's evident that the Affordable Care Act is not working effectively. I understand that we're not a small, Scandinavian country where big changes can be readily adopted. But expanding Medicare for all, even with the additional taxes that would be incurred, would remain a superior and less expensive strategy for not only managing medical expenses and ensuring coverage to everyone.

Time for Honest Assessment

We as Americans, must tone down our own arrogance. America's medical care isn't exceptional. The US places significantly behind many other countries with the best healthcare globally, based on comprehensive research. Perhaps a bright spot in this current situation is that we undertake a hard look at ourselves and agree that big changes are necessary.