My mother just had one. She is elderly so that government subsidized most of the cost through Medicare, which is great for her but not so great for our economy and it's ballooning medical care costs. I say this because of how it hits Milton Friedman's least economic 3rd quadrant where someone else pays for something you receive. If some one else pays, why not go for the Rolls Royce instead of the used Toyota? My point is that yes my mother is greatly relieved and got excellent service, but would she had done it if she had to pay for it completely? Possibly not when the cost was considered.
When debating health care it should be asked if it is right to make society pay for everyone to get a Rolls Royce in medical care. The only way I see to make this work is to have society subsidize health care early on when the cost benefit ratio is high and then to let go as we age and let us depend on private insurance plans or direct payment by the individual; similar to how a closed community, like the Amish, would arrange among themselves.
No comments:
Post a Comment