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Enjoy Retirement, Folks! April 22, 2013 8:15 AM | Tagged as Death panel, medical care, Obamacare, shortages

WSJ April 17, 2013 (A13) “Steaming Toward the ObamaCare ‘Train Wreck’” by Karl Rove

The Biz Bucks Guy and Mrs. Biz Bucks have been challenged once again by our health care system. 

When we left the ‘mother ship’ of a large company in 1997, we found out how daunting the world of health insurance can be for those without the wonderful benefits of large corporations.  

We first chose to do the “free-market thing” by enrolling in a Medical Savings Account (MSA), now Health Savings account (HSA).  The healthcare industry was not ready for us.

We had to negotiate with every provider: doctors, labs, hospitals, radiologists, etc. Some, like most doctors, were excited to meet an MSA person. We got substantial reductions from them. Hospitals also. Labs and emergency rooms, not so much.

Then, something went wrong. Our MSA insurance company went out of business in Arizona. We had six months to find a new insurer.  The only insurer available was a new State of Arizona organization to help small businesses. It was very expensive, but it was better than nothing. Now this State plan has decided to quit operations in light of the Affordable Care Act. We have to be on Obama’s healthcare exchange on January 1.

The problem is there may not be an exchange on January 1. See Rove’s article. So what do we do then? No insurance? Who knows?

Good thing we will be eligible for Medicare in mid-2014. Then, we start a new voyage in health care’s stormy seas.

In addition to purchasing an expensive Medigap policy to supplement our retirement benefits, we now will be led by Obama’s 15-member ‘death panel’ which will set Medicare prices for providers. They are shooting for government-divined “target prices”.

Remember the fundamental principle of Biz Bucks training related to microeconomics? Simply put, “Price controls below the market clearing price leads to shortages.”  So what will Obama’s price control panel yield? Shortages of doctors, hospitals, and labs providing services to retirees!  Read Rove for more details on the Unaffordable Care Act and its bungled implementation.

SO to my Baby Boomer colleagues: Be sure to enjoy retirement, folks. It may be shorter than you plan in light of reduced healthcare providers.


Posted By The Biz Bucks Guy
Posted in Price Controls | 1 Reply
Tuesday, April 23, 2013 5:50 PM
Wow...we have some interesting times to look forward to. But I can't believe how many people are simply in denial over this whole issue. When will this issue really come home to roost for the majority of Americans?
Posted by: Bonnie

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