🔗 Share this article

Deductibles. Preferred providers. Out-of-network. Premium health services. Out-of-pocket expenses. Co-payment. Shared insurance. Benefit advisers. Insurance brokers. Healthcare consultants. ACA. Health Maintenance Organization. PPO. EPO. Point of Service. High Deductible Health Plan. HSA. FSA. Health Reimbursement Arrangement. Explanation of Benefits. Consolidated Omnibus Budget Reconciliation Act. SHOP. Individual coverage. Family coverage. Insurance subsidies.

Baffled? You should be. Who comprehends all this stuff? Certainly not the average entrepreneur. Neither the average worker. Selecting the right medical coverage for our business – or for our families – seems like demands advanced expertise in medical insurance.

Our Healthcare System Isn't Just Complicated, It's Expensive

Based on recent research, the average family spends $27,000 each year on medical coverage (up 6% compared to last year). The average company healthcare expense is projected to surpass $17,000 per employee by 2026, an increase of 9.5% from 2025.

Currently federal operations has ceased functioning because political disagreements over subsidies that experts say will lead to premium increases up to 100% for millions of Americans.

When Might We Seriously Consider Universal Healthcare?

How soon might we genuinely evaluate universal healthcare coverage in the United States? I'm convinced we're getting closer since this situation is unsustainable.

I'm not suggesting national healthcare. I'm proposing that our already existing Medicare program – an established insurance framework – merely extend to cover everyone. Our infrastructure remains intact. How medical professionals receive payment would change. Believe me, they will adjust.

The Way National Health Insurance Would Work

A national health insurance program would require contributions from both workers and companies. In comparable systems, an employee earning moderate income pays approximately five point three percent to their healthcare. Their employer pays about 13.75%.

Does this seem like a lot? Unless you contrast that with what average American pays. I know multiple clients that are easily contributing anywhere from 8% to 15% of their employee wages for medical benefits. And keep in mind that in comprehensive systems, those payments include pension plans, illness coverage, parental benefits and job loss protection in addition to supporting healthcare facilities. When including those costs versus our current spending on retirement programs, job loss coverage and vacation benefits, the gap narrows.

Execution for America

In the US, universal healthcare funding would increase our Medicare tax deduction, a system that is already in place. It should be means-based – wealthier individuals would contribute higher amounts than lower-income earners. This includes both worker and employer contribution. And, like much of our government's defense, IT, welfare services and infrastructure, the program should be outsourced to third-party administrators rather than federal agencies.

Advantages for Entrepreneurs

Universal healthcare coverage represents a huge benefit for entrepreneurs like mine. It would put us on a level playing field with our larger competitors who can afford better plans. It would make administration much easier (a payroll deduction processed similarly to social security and Medicare taxes, rather than individual transactions to insurance companies and coverage administrators).

It would enable it easier for us to budget our yearly costs, rather than enduring the complex (and ineffective) process of bargaining with major insurers that we must do each year. Because it's simplified, there would be a better understanding about benefits by our employees – as opposed to existing arrangements where they have to decipher the complications of existing plans. Additionally there would certainly be less liability for employers since we wouldn't would be privy to workers' medical records for purposes of risk assessment and different options.

Free-Market Viewpoint

I'm as capitalist as they get. However I recognize that public institutions play important functions in our lives, including national security to supporting essential systems. Ensuring medical coverage to all through a national insurance system strengthens our economy's infrastructure. It's a better, simpler approach for entrepreneurs that employ more than half of American employees and fund half of our GDP. It makes it possible for workers to enjoy better health, come to work more often and be more productive.

Addressing Concerns

Are there numerous factors I haven't covered? Of course there are. Given all the healthcare cost increases experienced in recent years, it's clear that the Affordable Care Act is not working very well. And I realize that America isn't a small, Scandinavian country where big changes are easier to implement. But expanding Medicare for all, despite the additional taxes required, would still be a superior and more affordable strategy for not only managing medical expenses but providing access to everyone.

Need for Honest Assessment

As Americans, we need to reduce national pride. Our healthcare system isn't exceptional. The US places well below numerous nations with the best healthcare in the world, according to comprehensive research. Perhaps a positive aspect amid present circumstances is that we take serious examination in the mirror and acknowledge that major reforms need to happen.