Cutting the health insurance Gordian Knot

With one simple executive order, President Trump could reduce the healthcare costs of the uninsured by 90%. Here it is: “The Center for Medicare and Medicaid Services shall include the following in all future contracts with healthcare providers: No hospital, doctor or other healthcare provider, who receives Medicare or Medicaid payments for medical goods or services, shall charge uninsured patients higher prices than those of the Medicare fee schedule.” Yes, believe it or not, that one little rule in the government’s Medicare and Medicaid contracts would save the uninsured 90% of their healthcare costs, without costing taxpayers one dime. How? It’s simple, and you probably understand already, if you have good insurance and have ever examined your medical statements in detail. It works like this: Because (a) in bygone decades many insurance companies paid whatever was billed (no matter how outrageous), and (2) because most current...(Read Full Post)