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Why Is Health Insurance so Complicated?

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Why is health insurance so complicated, while car insurance and life insurance are so simple? Can health insurance be more like, well, insurance? Lanhee Chen, fellow at the Hoover Institution, explains. Donate today to PragerU! http://l.prageru.com/2ylo1Yt Have you taken the pledge for school choice? Click here! https://www.schoolchoicenow.com Joining PragerU is free! Sign up now to get all our videos as soon as they're released. http://prageru.com/signup Download Pragerpedia on your iPhone or Android! Thousands of sources and facts at your fingertips. iPhone: http://l.prageru.com/2dlsnbG Android: http://l.prageru.com/2dlsS5e Join Prager United to get new swag every quarter, exclusive early access to our videos, and an annual TownHall phone call with Dennis Prager! http://l.prageru.com/2c9n6ys Join PragerU's text list to have these videos, free merchandise giveaways and breaking announcements sent directly to your phone! https://optin.mobiniti.com/prageru Do you shop on Amazon? Click https://smile.amazon.com and a percentage of every Amazon purchase will be donated to PragerU. Same great products. Same low price. Shopping made meaningful. VISIT PragerU! https://www.prageru.com FOLLOW us! Facebook: https://www.facebook.com/prageru Twitter: https://twitter.com/prageru Instagram: https://instagram.com/prageru/ PragerU is on Snapchat! JOIN PragerFORCE! For Students: http://l.prageru.com/29SgPaX JOIN our Educators Network! http://l.prageru.com/2c8vsff Script: Americans carry many different forms of insurance. There’s car insurance, home insurance, life insurance, even pet insurance . . . Most of these insurance policies work well and are fairly priced. But there is one glaring exception: health insurance. Only health insurance becomes more complicated and more expensive at the same time. So, the obvious question is: why? To answer this question, we have to start at the beginning. What is insurance? It’s pretty straight-forward: You pay a monthly fee which provides financial protection against unforeseen, sometimes catastrophic, events. People buy homeowners insurance, for example, to protect themselves from the financial loss incurred in the event of a fire, a flood or theft. Because millions of people are paying into the insurance pool, the pool has enough money to cover the unlucky person whose house does burn down. And since insurance is meant to share risk, it only stands to reason that higher-risk individuals have to pay more to be insured. Someone who has had two accidents is going to pay more for car insurance than someone who has never had an accident. Why? Because their track record indicates they are more likely to have another accident. But while insurance provides a bulwark against unforeseen loss, it does not protect against routine expenses. Car insurance protects you in the event that you wind up in a car wreck or your vehicle is stolen, but it doesn’t cover routine maintenance like oil changes, replacing brake pads or tire erosion. Why? Because everyone needs routine oil changes, new brake pads, and new tires. So, there is no risk to protect against. Health insurance in America works very differently. Many of us have health insurance plans that aren’t insurance at all. They’re really pre-paid health care plans. They cover routine check-ups, less serious illnesses, and recurring expenses like prescription medications in addition to protecting you from a health disaster. All of this has made healthcare much more expensive and complex than any other form of insurance. That is true whether you get your insurance through your employer, through the government, or if you pay for your own plan. The Affordable Care Act, known as Obamacare, was passed on the promise that it would fix these issues and bring down healthcare costs. But it has actually made the problem much worse. First, it limited the variety of health insurance plans private companies could offer. It did this by mandating that every plan had to cover the same set of ten health benefits, including preventive care, maternity care, mental health care, and contraception. Second, Obamacare prevented insurers from charging premiums based on the risk they were assuming. A person with a much higher risk of getting sick couldn’t be charged more than a person with a much lower chance. These two aspects of Obamacare – requiring all policies to have certain coverages and not allowing insurance companies to charge more for riskier clients – caused the price of insurance to rise dramatically. In Arizona, for example, the price more than doubled between 2016 and 2017 alone. For the complete script, visit https://www.prageru.com/videos/why-health-insurance-so-complicated
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Text Comments (1821)
Nathan Pellerito (16 hours ago)
I don't believe the government should control the market, but dear God, do they need to fix healthcare prices
Jon S (3 days ago)
Unforuntatly the proposed alternative is oversimplified, treating healthcare like car insurance won't work either.
N Cortez (9 days ago)
End health insurance!
Patriot Troll (11 days ago)
Fix health insurance! Let the free market work!
Egyptian (12 days ago)
build more clinics, don't make healthcare insurance mandatory, open your healthcare clinic services across state lines. This will create competition, offer the best quality of service and bring all costs down all because of one thing, because businesses depend on their customers.
Classical Liberal (29 days ago)
Whatever you do, don’t copy Britain’s NHS! It’s a shambles!
deciembre2012 (30 days ago)
Why would he just casually gloss over pre-existing conditions when that is the most essential question? What do we do for those with pre-existing conditions?
juan jose (1 month ago)
*FAT AMERICA*
Jack Jones (1 month ago)
Great content! No wonder YouTube is trying to censor it.
Władca Wymiaru (1 month ago)
Insurance is a form of financial pyramid...it MUST fall...at the end.
Joe Ellis (1 month ago)
I got one thing that really makes me paranoid with my company. I picked up health insurance and dental 2 months ago and my company sold out to another. Do my payments on my health insurance continue over onto the new company or did I lose that three months worth of payments. Question is do I got to start over. I know everybody's getting reviews but no raises because of the new company transfer. Even if you signed a contract when you are hired on.
Emeka Oputa (1 month ago)
Well said. True talk.
Tom Holloway (1 month ago)
I agree with almost all you've said. But I'm a Type I diabetic that is in better health than 99% of people my age and I have struggled getting insurance. I do Crossfit, have never smoked, don't drink, and have perfect health otherwise. But unless forced, insurance companies wouldn't touch me with a 10 foot pole. And my prescriptions (without good insurance) would break me.
Joe Mama (1 month ago)
I work in the insurance industry and this guy is spot on. We don't call it a house or a car. We call it a risk. In health insurance you are the risk. Believe me, you don't want to be the risk. It's a great concept for mitigating property damage. But it's a disgusting idea that your health is looked at the same way that we look at your property.
Taylor B (1 month ago)
Medicare for all is the best healthcare solution. Change my mind
Toggle of Baelgun (1 month ago)
Because it's not really insurance. It's prepaid medical care. You don't buy car insurance that covers gas and tires. You don't buy homeowners insurance that pays your utility bills. You don't buy life insurance that pays for vacations. I guess I should've listened to the video before posting since I now see I posted exactly the same thing.
David Tindell (1 month ago)
The reason it's different is people WILL get sick. I may go my whole life and never have a car accident. The premise on this suggests disabled high risk people should be denied care due to low income. That's the most unchristian thing I've seen. How can the owners of this channel have the haul to proclaim they're actually a Christian?! This sure isn't what Jesus taught.
eimb1999 (1 month ago)
@ 3:43...."We make sure they get the medical care they need." Someone explain exactly HOW. I never hear anyone explain that one on the right side.
Greg Last (1 month ago)
Auto insurance industry is a fraud.... no fault of mine..... private health insurance is geared towards huge profits - in canada these profits dont exist therefore costs are more managable.... get it?
Anush Hariharan (1 month ago)
Excellent!
This is a political ad. Visit my page and I'll educate you on how your plans work. I actually do this as my job not a political organization
Joseph Linger (2 months ago)
These videos are great. I'm 14 and dumb, so when I hear Ben Shapiro use his large vocabulary, I get confused. With these videos, and can learn so much and become less dumb with each video. Now, anytime I hear my fellow 8th graders say Bernie Sanders is great for no frickin' reason, I can stand up to them.
Mike Jones (2 months ago)
Greed that Why look at all their big buildings
Keith Harvey (2 months ago)
Wow... So PragerU wants to charge more to the elders of our country for their service in the workforce and military? How about we just make it Universal Healthcare? That makes it easier for everyone to access! We definitely don't need other insurance like auto/home, especially when we're talking about people's lives.
Paul Susac (2 months ago)
"Don't make people pay for insurance they don't want" = Women have to pay more for insurance than men. I'm not arguing, I'm just pointing this out.
Pedro Gomes (2 months ago)
I agree, although we cannot expect people to be able to pay health insurance, even if a big variety of insurance plants and associated prices already exists. Life is simply too unpredictable, and so to better oneself, one first needs to have their basic insurances ASSURED in order to get the financial capacity to sustain a good coverage by their subsequent health insurance plan.
Urbanfour (2 months ago)
Don't you conflict yourself when you say that we "make sure they get the healthcare they need" right after you say that we should let companies charge more based on the amount of care expected? How to you make sure the get the care without forcing the insurance companies to keep their prices low and not let them deny people with pre-existing conditions? Genuinely asking by the way, not trying to argue.
John Chadwick (2 months ago)
Sorry PragerU, I believe that you left out the factor of drug companies charging extremely high prices, and fixing prices through stock market gains. You also left out the golden rule, All Insurance companies are in it to gain money, not loose money. Nice try Asian guy.
JazzyGirl 2012 (2 months ago)
Is he serious? Insurance companies will do and say anything to try to get out of paying. Some things they refuse to cover under your policy because they deemed the disaster an ‘act of God’. How ridiculous is that? Insurance companies are just greedy, period. Not to mention the executives pay themselves a salary of a few million. Then, they also get bonuses on top of that. And you KNOW they all have the best health care around. What makes you think that they give a crap about the average American?
AwareWolf (2 months ago)
I'm disappointed in your failure to explain the importance of opening the state border restrictions to encourage a competitive market, Prager.
Jacob Griffin (2 months ago)
2:48 - But that's only bad news for health insurerers who don't want to do accident forgiveness.
Clyde Barrow (3 months ago)
Dont support Dennis Prager. He is a jerk. He believes his idealology is to be practiced by free-thinkers. Divides our country. Always talks about THE LEFT. FU!
mp (3 months ago)
Follow the Dutch example
OhHiItsConnor (3 months ago)
@3:34 How though???? Please help with a solution, not just pointing out the obvious!!
Gnarly Mcfuknuts (3 months ago)
Bruhs chin CGI'ed
Lucio Tanzini (3 months ago)
This video is pernicious, health is a right, not a business, if there is a thing that europeans are shocked about is that in the US public healthcare doesn't exist and the lives of the people become a product that has to obey the rules of the free market, and this is fault of the right and its liberist obsession. Healthcare doesn't even cost half here of what ot costs in the US, and yes, I AM taking into account the taxes we pay for it.
Deborah (3 months ago)
The issue isn't just about insurance. It's about the cost of healthcare. The whole system is hideously bureaucratic, largely because the insurance companies have a large monopoly. Medical practices have to spend hours of labour time filling out forms for third party payers when in many cases they could get this money directly from the patient. I see no reason why contraception should be covered by insurance, when you could buy a couple of pills down at the drug store. Until people realize that paying cash upfront is better than getting a third party to pay for your healthcare (for which they will take a huge chunk out of your pay packet), then the bureaucracy will continue.
CNN FakeNews (3 months ago)
Insurance is a scam, none of them work well, they all tell you that you will be covered, but they have pages and pages of things they don't cover, I wish I had a company that by law everyone had to use and I could write my own rules, it's total crap
pieter fischer (4 months ago)
When i look at South Africa's medical aid, we have a list of 45 PMB's (prescribed minimum benefits. A list of 45 chronic illnesses which every medical aid plan HAS to cover for. With the exception of a standard hospital plan. Which just covers your stay in hospital and whatever procedures they do in an emergency). Most health insurance companies here have about 5 plan options. Some even more. Others allow you to customize what you want cover for.
Adam Anderson (4 months ago)
while this video did make things more clear, you didn't actually give a solution. The solution is to stop calling what we have insurance, and embrace the term "health care". We can purchase health care plans that provide the benefits and overages we need. and for those with pre-existing conditions, they can apply to a health care plan that has a reduced cost and provides the services they need.
Raphael Gomez (4 months ago)
Health insurance is so complicated because it is a scam, like all other scams. Make it easier to understand and the price will fall. It is scam involving healthcare providers and insurance companies working together, it is a gift that keeps on giving, and if something goes wrong, hell the doctor was only "practicing". Unlike other forms of insurance, there's no such thing as a settlement, and the scam of bilking policyholders by extending the amount of followup and testing that only ends when the patient dies
Cat Face Poetry (4 months ago)
That smart asian guy in perfect health likes to keep it good as he watches his fellow american fatties living by fat jokes. Just die early with a slow death, it's America, it's what you do to live. The meaning of life is forever answered. Don't make it slower, you do the fries, you so-die by it. Seems insurance to me!
Lord Beerus (4 months ago)
Healthcare costs a lot these days and this system is too complicated. We need a better system.
Uriel Correa (4 months ago)
How about stop spending the 700 billion dollars the us is spending on the military budget and instead use it for the health care budget?
Deborah (3 months ago)
America's military budget isn't making healthcare costly or complicated. America actually spends more on healthcare than many other countries, so that isn't the solution.
Tom Douglas (4 months ago)
I have worked in health insurance and can tell you everything you need to know. There is health and there is insurance. Health is health and insurance is not Health. Both are expensive and complicated If the government does the financing of health. ALL THE MONEY GOES TO HEALTH
Deandra Fuentes (4 months ago)
I hate adulting
The Fiya (4 months ago)
Routine checkups, illness, medication, and health disaster? These are all things that should be covered. I’m a conservative but I’m not for getting rid of this law
M. voors (5 months ago)
you really can't compare risks in healthcare to risks in car insurance, car insurance risk is by behavior health can be by behavior but most often is not. preventative care and checkups save on healthcare costs so forcing that into every insurance plan is positive overal. obamacare did lower insurance costs and increased the number of insured people, the individual mandate forced healthy people to get insurance so individuals had to pay less.
TProgressASAP (5 months ago)
but obama care is free so healthinsurance is free now, say all the retarded sheeple
Patel Vidhu (5 months ago)
Not only health all insurance are very complicated.
Tom Joe (5 months ago)
And yet somehow - without all this government hoopla in dentistry. A days worth of work will get you a full on 'surgical' tooth removal and if one chooses; insurance for about $7/month. How people can believe "more government" can fix a government induced problem is beyond me.
Truth Warrior (5 months ago)
The way to fix this problem is to ban insurance outright . Funny that PU defends insurance when Insurance is corporate ran socialism for profit . If you banned it it would make the world safer and save individuals thousands of dollars a year . Cars would be made safer , people would drive safer , cost of body work would go down , people would build safer more protected homes , people would run safer businesses , people would live healthier lives , the cost of healthcare would collapse . Not only does insurance breed unsafe lifestyles and actions , but it helps people unnaturally profit from it . The companies bleed off alot of profit , and the doctors companies that tend to the insured make excessive profit based on money pooling , not natural market conditions . Again , all forms of insurance are corporate ran socialism . NO different than the government .
Cristina Lee (5 months ago)
Great video except for the end. What exactly is the plan to get the care pre-existing condition patients need? This is a big issues for anyone with compassion, as mentioned in the video.
Frank A (5 months ago)
The point is that by far the most health care is needed by people in high risk categories, and in an unregulated insurance market without any government intervention they cannot insure themselves at a premium that can be considered affordable for most people. So a completely unregulated insurance market fails for the people who actually need it most. A point that is missed entirely in this video. And who is going to pay for the health care for people with preexisting conditions or a high risk profile (like elderly)? A key question that is not answered. Will the government do that? Well, then we still end with a system in which the largest share of health care cost is paid for by the government.
Tom Joe (5 months ago)
+Frank; lol... UN-Affordability and inaccessibility of healthcare is most certainly NOT just an AMERICAN problem. As I explained a few posts up. Netherlands isn't much better off ( price wise ) because its citizens tax-rate is at least 2x that of Americans. Just because the price is hidden behind citizens extremely high tax rate doesn't make it any better. Most Canadians pay for private on top of public just to get healthcare because their system has failed for many of them. Despite the faulty claim - we'll just address the real problem with government interception. If the government demands a service/labor from its citizens at X-price which isn't voluntarily offered. That is called slavery to some extent. Historically, Americans haven't been very big on enslaving their citizens to this extent. I'd disagree that, "America has already for decades the least government regulated health care and health insurance sector in the world". We have 19! Yes, 19 FEDERAL Regulatory Agencies on personal health-care. Then a whole other slew of regulations at that State level. Perhaps you're referring to 1965 regulations?!?!? But; Yes, yes indeed - "creating monopolies while leaving prices unregulated is also a very unwise form of government regulation". I agree with you on your conclusion; Government ( one entity ) is a monopolizing force. There are no other "competing" governments per specific country. Even when that one entity regulates to its whim a so-called free market - it transfer-ably creates monopolies by blocking open access. Just for an example the U.S. FDA requires pharmaceutical companies to pay a $2-million dollar fee for FDA drug approval. How "open" is it really when only drug companies with a $2-million per-pill profit projection can enter the market? What makes anyone think that killing all this government psycho-babble around healthcare wouldn't instantly return us to the 1965 price index is beyond me. We've done it before; why are we waiting to do it again.
Frank A (5 months ago)
Tom Joe You seem to forget that the unaffordability and unaccessibility of health care is an AMERICAN problem. Not a European problem or Canadian problem. America has already for decades the least government regulated health care and health insurance sector in the world, has (already for many years) by far the highest health care expenditure per capita in the world, while it is ranked nr 31 when it comes to life expectancy. The facts just show that countries with smart regulation of the health care sector outperform the USA on affordibility AND accessibility of health care as well as life expectancy. That also bad forms of government regulation exist doesn't change this fact at all. The phenomenon that price indices rise faster in labor intensive sectors with low labor productivity growth (like the medical sector) is also known as the Baumol effect or the Baumol cost disease. See: https://en.m.wikipedia.org/wiki/Baumol%27s_cost_disease. This probably explains at least partly what is seen in figure 1 of the article you sent. But creating monopolies while leaving prices unregulated is also a very unwise form of government regulation that might have attributed to this trend.
Tom Joe (5 months ago)
+Frank; 1st ) "only looking at the premium and deductibles that people with health insurance pay does not make a pure comparison" -- It does for the people paying for it. 2nd ) "If the premiums under Obamacare have risen ... YES, EXTRAORDINARILY ... because the people who need it can now get health insurance ( FYI: HIGH PRICE !!DOES NOT!! EQUAL ACCESSIBLE ) and the access to the care they need, then there is also a revenue that you (and this video) consistently leave out of the pucture, without argumentation why." -- I have no idea what you mean by 'revenue' left out. Yes the medical industry is filthy rich and becomes more so with every new communist $$ program thrown at it. 3rd) "I suspect there is a design error ... A good functioning risk adjustment system is key." -- I suspect the same, and the only "good functioning risk adjustment" IS FREE MARKET driven. As the saying goes, "its only worth what people will pay for it". This principle gets violated 10-fold when government lawfully requires and throws peoples money at anything they want. 4th) "It is a phenomenon that can be seen all over the world ... largely explained by the ageing of the population, income growth and technological development" -- Health care is pretty much monopolized (communistic) all over the world and comparing it to the U.S. 1965 healthcare; no-one has ever seen it better. This country could once afford healthcare better than any other country and had the best healthcare around. That was before the government destroyed it while supposedly, "making it more affordable ".. Our government does that all the time - makes something affordable absolutely UNAFFORDABLE. -- Seriously; does it matter one iota if income growth and technology makes something "better" if it makes all other options UN-AFFORDABLE?? I make a better pencil than most - I guess everyone should be forced to buy my pencils which cost more than a house? This article pretty much says it all in one graph. https://mises.org/blog/how-government-regulations-made-healthcare-so-expensive
Frank A (5 months ago)
Tom Joe , you mention interesting figures. But only looking at the premium and deductibles that people with health insurance pay does not make a pure comparison. Already since far before Obamacare, the US are by far the country with the highest health care expenditure per capita in the world. See these lists from the OECD and WHO: https://en.m.wikipedia.org/wiki/List_of_countries_by_total_health_expenditure_per_capita While when it comes to life expectancy the US only ranks number 31, just behind Costa Rica and Chile and just one place above Cuba: https://en.m.wikipedia.org/wiki/List_of_countries_by_life_expectancy So the whole health care system in the US, also from before Obamacare, does not seem to be very efficient. Premiums are relevant but are also only a part of the equation. If substantial parts of the population with high health care needs have no access to health insurance, no wonder that you end up with a relatively low premium. If the premiums under Obamacare have risen because the people who need it can now get health insurance and the access to the care they need, then there is also a revenue that you (and this video) consistently leave out of the pucture, without argumentation why. I don't think though that that is the whole story with Obamacare. If premiums are really going through the roof now (do they?) I suspect there is a design error as well, as I also read that the risk adjustment system for insurers is not functioning properly: https://www.realclearhealth.com/articles/2017/03/06/risk_adjustment_at_heart_of_incredibly_complex_health_care_reform_110479.html If that's the case, it is logical that insurers rise their premiums, because they are confronted with uncontrollable risks that they must cover one way or the other. A good functioning risk adjustment system is key. Your point that health insurance premiums in the US have risen over the last ten years (so also long before Obamacare came into effect) is in itself not convincing to me. It is a phenomenon that can be seen all over the world and which can be largely explained by the ageing of the population, income growth and technological development.
Red Kap (5 months ago)
greedy for profit insurance companies. a patchwork system that sucks
Laura Bunyard (6 months ago)
I had a flu shot this year. I need to bring the rest of my immunizations up. I have started brushing and flossing my teeth more, which will eliminate infections that could hurt my heart. I walk an average 12 miles a week. I have a trampoline I can jump on. I walk up and down stairs. There are many things we can do that benefit us and do them inexpensively.
Bill Petersen (6 months ago)
No....that doesn't quite explain it. The key element of healthcare in this country revolves around the term GROUP. Groups are formed to separate those who PAY for their coverage....and those who don't pay. People working (key word is "working") get the premium level of care because they WORK and they PAY. Others who don't work or make enough money to PAY....they get covered too.....but it is a lesser quality of coverage. It's kinda like how we eat. Those that work and pay get to eat Lobster once in a while. Those who don't .....eat beans. This is the way it is in EVERY country....and always will be.
gur ruh (6 months ago)
Maybe you can explain why the US gives billions of dollars to Israel to have universal healthcare, eh?
Kosm (6 months ago)
No.... youre wrong.... sorry. Even before Obama came along, hospitals still charged $200 for an aspirin. I find it amazing that you are ok with the government spending your tax dollars on meaningless corporate wars and and social security benefits but the idea of your taxes going towards health care is anathema to you. Your taxes pay for firefighters, police, education and roads... why shouldnt it pay for health care?
Victor Ch (6 months ago)
I have read that some states tried to create pool for people with preexisting conditions but the polls were poorly funded and the programs were closed.
Benjamin Vabner (6 months ago)
This Video Makes GPOD Points But PRE Existing patients shouldn't get denied plans
Patrick Star (6 months ago)
"O Canada! Our home and native land! True patriot love in all thy sons command. With glowing hearts we see thee rise, The True North strong and free! From far and wide, O Canada, we stand on guard for thee. God keep our land glorious and free! O Canada, we stand on guard for thee. O Canada, we stand on guard for thee." i rest my case
Nothing suspicious (6 months ago)
Ya know I really don’t like insurance because it’s all a gamble, and it’s almost always stacked against you. You pay more when you have more accidents. I get that, but insurance companies are preventing you from actually getting anything out of it. They are designed to make a profit, and that’s not bad, but it is a gamble, and not a very safe one. For example I am quite a sickly person, so I’ll probably need to pay a lot more than most people this makes sure that you get less out of it than you put in.
pete (6 months ago)
I had cancer when i was 18....... no one wanted to give me a reasonable insurance rate due to my "pre existing condition". Unlike your insurance example, i did nothing to cause this and arguably there was nothing i could do to prevent it. No tobacco, no drugs, no booze, no known exposures, normal weight, active outside, etc.. At that age, i could not find a job with health benefits as all the local employers played the part time employee game where they only offered health benefits to their full time staff..... so i was always limited to 39 hours and luxury of juggling multiple jobs. I also didnt have my parents to fall back on, so i had to go without insurance and hope for the best. You made a very brief comment about how someone with a pre existing condition would be handled properly, but you gave zero substance on how you propose they do that. Where do you draw the line to fairly pick and choose which conditions are caused by the individual and which are just unfortunate? You guys normally make better videos than this..... thats a big issue to simply make mention but not make any real comment.
Жан Трушев (6 months ago)
So sad. But 90% of top 10 states with higher life expectancy usual vote for democrats and 90% 90% of top 10 states with lower life expectancy usual vote for rep. How it can be?
Visda58 (6 months ago)
1:12 For some reason the ticker going to "3" really made me laugh.
Maria Reyes Reyes (6 months ago)
It's actually not complex. Large corporation's making large profits off your health. Easy money why change the system that's why they lobby millions into politicians hands. No corporation should be allowed to profit off your health.
tauparticle.org (6 months ago)
"What about the people with pre-existing conditions. We do it any passionate Society does. We make sure they get the medical care they need." How? How do you pay for That? It seems to me they've glossed over this major bit because they don't have a good answer. This argument's main flaw is that health insurance is not like any other type of insurance or any other buisness for 2 reasons. 1 ) You cannot negotiate prices if you have been shot and are going to the ER or if you have just had a stroke or if you're in labor. consumers are more occupied with being healthy then getting a good deal. this gives insurance companies the power to raise prices because they know consumers cannot fight back as is the case in most other businesses where competition brings down prices or gives better quality. That is the actual reason for more expensive health care. 2.) There is a population with pre-existing conditions. The attained these conditions through no fault of their own and still must bear their burden. The only stable way to insure people with pre-existing conditions who are chronically in the hospital is to expand the amount of money in the insurance pool by covering everyone. If you tried to expand the insurance pool by raising prices people leave the insurance because they can't afford it. Fewer people means higher prices which means higher prices until only sick people are left and the whole thing shuts down. We all need to buy health insurance to make sure people born less fortunate than us can survive and lead good lives. And on the side we get health care for when we get sick. Shared sacrifice.
The Eh Team (6 months ago)
You still pay over-inflated prices at the hospital, your insurance company just gets a discount.
Der Meister (6 months ago)
Hello from Canada, guys
Goh Cheng Wei Benjamin (6 months ago)
Very well summed up
Freedom Cobra (6 months ago)
All these blue people seriously need to see a doctor, they need some vitamin D
Sokobansolver (6 months ago)
If you don't think healthcare is a basic human right, you've either never gotten sick or injured once in your entire life or you have more money than Scrooge McDuck.
Swifterbator (6 months ago)
If some of you want to actually learn about economics, and topics like Health Insurance, I recommend Marginal Revolution University s YT channel. Unlike PragerU who has obvious biases through their vids, you get actual economic analysis. If the insurance market is left to it's own devises, it'll simply lead to market failure.
Occam's Stubble (6 months ago)
Yes, because every businessman drives his company into the ground. If that's what they're teaching at MRU, I wouldn't go near there.
Seed Of Evil (7 months ago)
why is health insurance so complicated? BECAUSE REPUBLICANS REFUSE TO LOOK AT THE COUNTRIES WITH FUNCTIONING HEALTHCARE SYSTEMS
Occam's Stubble (6 months ago)
BECAUSE THOSE SYSTEMS ARE DEPENDENT ON THE US FREE MARKET SYSTEM. WITHOUT IT, THE WHOLE HOUSE OF CARDS COMES TUMBLING DOWN.
BennyBoi Fellenz (7 months ago)
I wonder what would happen if ObamaCare never existed. That might be a good idea for a video.
Occam's Stubble (5 months ago)
My employer subsidizes my premiums so they're still affordable even though they've been going up since ObamaCare passed. This year, the offered a slightly more restrictive plan for less money. None of the restrictions affected me so I signed up. That said, let me explain the problem with our system before ObamaCare. Look at this chart: http://i.imgur.com/jKxtWxN.jpg It is about government spending but it is instructive in health care as well. Because the government has mandated that health insurance cover every sniffle and expected items like annual physicals, pretty much every transaction you have with a health care professional (including dentists) is done via an insurance claim. On that chart, that means that almost all health care spending in the US is done by a third party and thus occurs in quadrant 2. When that happens, prices go out of control because nobody is looking at the bill and saying "$35 for an aspirin, are you out of your mind?" When that happens, here come the leftists who created the problem in the first place with their "solutions" which alway involve more of the same problem: government interference. Their big solution is alway single payer. With SP, all health care spending occurs in quadrant 3. Although the spending doesn't necessarily occur with _your_ money, the bureaucrats who run the system are always under pressure to control costs so they become more concerned with that than they do with quality. The only want to produce high quality health care at the lowest possible price is to get most health care spending to occur in quadrant 1. You do this by placing health insurance back in its proper role covering major, unexpected items like cancer and heart disease and you have people pay for everyday health care out of pocket using a medical savings account.
Tom Joe (5 months ago)
Funny; My Health-care was actually AFFORDABLE before the "AFFORDABLE Health-care Act" passed ( commonly know as Obamacare ). Now, I cannot even pay for an exam without filling out a billion forms and taking "tax subsidies" from others while dishing out a horrendous monthly bill in the off chance I'll need an exam this month. Maybe they can go fix the Dentist industry too. Americans can still afford those medical services - I guess they need more socialistic legislation thrown at them so NO-ONE can afford them anymore either. Heck, I hear the new thing is 'Mobile Dentistry' where they come right to your front door and charge less than a days worth of work. I think way-way back when even medical doctors did this too. Nope GOTTA HAVE SOCIALISTIC LAWS thrown at them so ABSOLUTELY NO-ONE CAN AFFORD THEM ANYMORE!
Occam's Stubble (6 months ago)
We'd have the same crappy system we had before. The problems with our health care system started long before ObamaCare.
Seth Steele (7 months ago)
Universal single payer healthcare with sin taxes. Problem solved.
Occam's Stubble (6 months ago)
So you tax smokers and fat people to pay for it and then refuse them care like they're doing in the UK. Soon, you run out of money because you've killed all the smokers and fat people. Great plan!!
Marlon Moncrieffe (6 months ago)
The Gaming Failures Ooh, I totally agree!
The_Dutch Aviation_Geek (7 months ago)
How to cut down health care costs: Make sure pharmaceutical giants cannot sell their medicines at insane prices, also a nice feature of your oh-so-nice crapitalism. P.S.: I litterally feel brain cells dying reading the comments section
Occam's Stubble (6 months ago)
The prices are high because government regulation makes it take ten years and a billion dollars to get a drug to market.
Mr. Numi Who (7 months ago)
It seems that since Obamacare, workers have been blackmailed with terrible, and terribly expensive, health insurance plans that they HAVE to take (hence the 'blackmail'). Where I work, if an employee wants a family plan, their portion is $1000/month - which, for most of them, is at least half their entire pay, and the plan is a high deductible plan on top of that - the current one (and they've been changing providers every year, which seems like a scam) has a $9000 deductible, per year, which is, in effect, no coverage at all in any case under that. At the new provider's presentation, I heard one person quip, "I guess the kids aren't getting covered." (which could be a state of affairs that is still under the radar - how many dependents are actually covered now?).
Kalvin (7 months ago)
So what you're saying is that we should use taxpayer dollars to pay for people with preexisting conditions to have healthcare, but at the same time not make everyone buy insurance to cover medical emergencies. But medical emergencies oftentimes become the preexisting conditions for which insurance companies will refuse to cover you for. If someone gets cancer and needs treatment or they will die, do we as a compassionate society cover this thing which counts as a preexisting condition that insurance won't cover? If so, then what's the point of insurance at all, because as soon as you need it, it'd be covered by the thing we use to cover preexisting conditions? The actual problem here is that we cannot simultaneously be a compassionate society and be one that allows sick people to die if they don't have insurance, and under our current system or anything similar to it, sick people die if they don't have insurance.
Occam's Stubble (6 months ago)
No, they're saying that insurance should only cover big ticket items like cancer. Regular doctor visits and things like annual physicals should be paid out of pocket. Nobody has ever died due to a lack of insurance. The UK NHS is needlessly killing 130,000 elder patients every year. Some compassion single payer systems have.
Lauscus (7 months ago)
This is the first video I had to raise my eyebrow and say what?! Health Insurance is not complicated, it’s just managed like other insurances. Clearly there is too much that is different when it comes to insuring houses than insuring people. I’d elaborate but I hate making points using my cell phone
Occam's Stubble (6 months ago)
It is managed like other insurance but government regulations require that it cover things other insurance would not. Your car insurance does not cover tires. You cannot get fire insurance while your home is burning. However, government requires health insurance to cover annual physicals and allow already sick people to take out policies.
Classique Liberal (7 months ago)
Why get someone who is a Ph.D. in Political Science to do this? Because half of the shit he said is political, instead of being correct.
Quintusblake (7 months ago)
Wait a minute. This didn't explain how to fix the problem with preexisting conditions at all. It just said "we'll help them" but how?
raymondspogo (7 months ago)
OK, hold on. This video blames Obamacare for rapidly rising health care costs, but my healthcare cost rose rapidly BEFORE Obama was president.
Tizushi Sanxian (7 months ago)
Yeah, I think we should survey people on what they think they'll do in the future, and tailor their options accordingly.
Benn Conner (7 months ago)
I still know a lot of people that have been screwed over by Heath Insurance company's and its actual cheaper to have a national health service on top of the private option.
R D (7 months ago)
Also, people that go bankrupt due to medical bills should be sent to work camps until they have paid off all their bills. We shouldn't be picking up their tab.
Rodney Johnson (8 months ago)
We need to get rid of Obamacare simple as that
JDickison (8 months ago)
Free Market proponents will always lose this argument because when we talk about lowering healthcare costs, we only talk about INSURANCE. Healthcare currently operates in a Crony Market. Their pricing isn't based in a real market. We should focus on reforming MEDICAL regulations and licenses and then tackle insurance regulations. The number of people with "pre-existing conditions" is actually quite large. If you let healthy people pool together in insurance, you leave those in need of medical care to fend for themselves in an overpriced and Crony Market, people will advocate for single payer, which would be a disaster. The reason people don't insure oil changes or tires is because they are generally market based and affordable. If your oil change was $1,500 and tires $8000 then yes, we would insure tires and oil changes. Healthcare is in a Crony, over regulated market, and is inflated by 500-1000%..... seriously.... A colonoscopy should, in reality, cost about $350-500. Instead, without insurance is $5000-8000. Ridiculous. Not market based. If free market economists and conservative pundits keep the conversation focused on reforming insurance (only the method of paying for a product in a Crony Market) you will inevitably drive the rest of the country to argue for universal healthcare. People need healthcare costs to go down, not insurance costs at this point. Have that argument AFTER!!! Otherwise, you're asking for 30-90 million American's to just deal with a $3000 oil change.
joe mammon (8 months ago)
GOP controls the Senate & House of Rep & White House. but they still can't do shit. They can't repeal Obamacare! they're useless!
Gallopin' Galumphus (8 months ago)
What's so interesting, and I see it on multiple vids regarding health care, that no matter what the problem is, no matter how big, no matter how expensive, bureaucratic, ineffective, whatever. No matter what the problem is, there is ALWAYS some segment of the viewers who INSIST it must be that way and STAY that way. ANY attempt at trying to correct ANY problem is met by a significant NO! We CAN'T do that. Sad to say, with an attitude like that, I doubt health care will EVER be resolved to anyone's satisfaction . . . except whoever's making the MOST money with the LEAST amount of effort. I know, I know . . . NOBODY does thaaaaa-aaaaat! (See what I mean?)
Sarah Johnson (8 months ago)
Very informative! Thank you!
Tom Joe (8 months ago)
Soon, many are gonna have to face the truth that the left has become just a safe haven for the logically retarded so they don't "feel" as stupid as their proposed "solutions". Get rid of monopolies by creating ONE central monopoly? Get rid of poverty by taxing everyone into poverty? Trying to make gender, religion, and color not matter by calling a specific gender, religion or color - sexist, homophobic, or racist. If their ideas are such "good" solutions then why can't they just apply it to themselves instead of using "federal" ( not state, county, city ) governments to implement them. If it won't work on just an A-STATE basis what makes them think it'll work on ALL-STATES. Did they really think a country could survive on this retarded fantasy logic? Oh wait, ya, they did - that's why their logically retarded.
the undead1 (8 months ago)
The problem with risk based pricing kills people. 2 of the 10 lower it enough, then back to opening it to a ala cate type or plans pre assembled. Health insurance drove up health care cost.
Ranger 1776 (8 months ago)
wow this country made it 164 years without health insurance. 190 years without Medicare. Once we got health insurance up and running the country started going broke. When is this country going to wake up?? Health  Insurance is a scam.
Carlos310123 (8 months ago)
talk slower lol
Kellen Rist (8 months ago)
Ok, there are actually some decent points made here. Most of the PragerU stuff I've seen has been rambling babble that doesn't solve problems or argues about things that no one cares about in order to further a narrative. This one was more informative. But you kinda left us hanging on how to fix the whole "pre-existing condition" thing.
Todd Phillips (8 months ago)
Obamacare is another transfer of wealth using a government mandate.
Königstiger (8 months ago)
Finally someone talking sense...
I have single payer universal health care. It's so simple that I just go to the doctor and never need to fill in paperwork. An additional benefit is that it's cheaper for the whole of society and for me personally than private HMO's.

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