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Does Anyone Have Good Insurance Anymore?

Daniel Paull MD explains why good health insurance doesn't really exist like it used to.

March 29, 2024

“I have good insurance”.

– Usually only said by someone who has never really had to use it.

30 years ago, there really was good health insurance. Low deductibles, narrow networks, the companies didn’t fight you has much.

 

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Health insurance companies are much more profitable now than they have ever been. The ACA helped speed all of this up, and was written with the blessing of health insurance companies.

What we are left with now is plans whose premiums increase by double digits every year, increasingly higher deductibles, and narrow networks. Health insurance companies also seem to fight more in order to not pay for things.

In other words, in most cases, health insurance has become a very expensive hassle. You pay tons of money only to have to fight for it to work when you need it.

 

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On the flipside, heath insurance companies pay doctors less than they used to and require much more overhead in terms of staff in order to bill and submit. Doctors hate them too.

Health insurance companies know that they can get away with almost anything because we think that “You have to have health insurance”.

They are not betting on people and companies going self funded or finding alternative ways to insure.

This will ultimately be their undoing.

It might take awhile, but if sentiment hits a tipping point they will notice when less and less people renew.

All opinions published on SomeDocs-Mag are the author’s and do not reflect the official position of SoMeDocs, its staff, editors. SoMeDocs is a magazine built with the safety of free expression and diverse perspectives in mind. For more information, or to submit your own opinion, please see our submission guidelines or email opmed@doximity.com. Do you have a compelling personal story you’d like to see published on SoMeDocs? Find out what we’re looking for here and submit your writing, or send us a pitch.

All opinions published on SomeDocs-Mag are the author’s and do not reflect the official position of SoMeDocs, its staff, editors. SoMeDocs is a magazine built with the safety of free expression and diverse perspectives in mind. Do you have a compelling personal story you’d like to see published on SoMeDocs? Submit your own article now here.

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2 Responses

  1. Before I was forced to go on Medicare 5 years ago when I turned 65, I was insured by Liberty Health Share for years. It’s a Christian ministry that collects a monthly “share” amount like a premium. Instead of paying CEOs and other top management millions of dollars in salaries, they use the “pot” of money to pay member health care bills. They are not profit motivated. The “share” amounts are much lower than insurance and every doctor with a valid license is reimbursable. There are no participating doctors. It’s open access. They used to pay way more than Medicare. I understand that now they are creating “fee schedule-like payments” but at least you get to choose whatever doctors you want.

  2. I’ve had various insurances since 1981 when I was a third year student to low cost individual private thru the 80’s and 90’s and then PP0’s ( of the Blues). Medicare may be the best insurance I’ve experienced. Except it pays the professionals poorly. Seems like Western European countries have figured this all out. Education cost is manageable. Physician income is good but all over the place as in the states based on specialty.
    By the way health Insurance companies in WE are all nonprofits.

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