August 5, 2008 10:00AM
Can we *really* insure every single American?
By Liz Claman
It’s a question I asked Humana (HUM) CEO Mike McCallister on “Countdown to the Closing Bell” just after his company had issued a quarterly report that showed net income fell due to rising costs. (the stock soared though, because it beat estimates, plus the company guided higher for the year.)
I want you to see his response. I want you to know that when we put company leaders on the air, it’s not to give you, the viewer, just an antiseptic “analyst-call-on-t.v.” but rather, an opportunity to see the people who really run these companies…how they feel about the bigger issues. And you don’t need to be reminded that we’ve got a Presidential election coming up so I asked him how Washington can get universal healthcare right. I think you’ll appreciate his candid answers. Listen in, and then give me your thoughts.
–Liz
Comment by Ted Sherman
Aug 5th, 2008 at 11:21 am
Liz,
I agreee that everybody should get some form of insurance weather it is long term catastophic insurance or regular insurance. What I am tired of hearing is that we are a wealthy nation so that spending other people money from the gov’t is the answer. The truth is that today we have a $10 trillion dollar that $10,000,000,000,000 debt. Look at all those zeros and tell me that we are able to insure everyone.
I have some ideas myself. Stop frivolous lawsuits. I would like to find as many uninsured as I could and tell them to get into a group first go to your local insurance agent and tell him that you are going to insure us for $10 a month, then get into their cars and go to a doctor (general practioner) and as a group tell the Dr. that you are going to treat us every six months for $10. How many of us go to the Dr and all we have done is a blood pressure test and our tempature is taken. When they leave the Dr’s office they go to the Pharmasist and tell him that you are going to give us our generic drugs for $10. How you work that out with the drug company is your headache. Allow Phizer and SmithKlien Beecham and other drug makers to fully right off any R&D cost immediately. Lastly institute a flat tax of 5% (no loopholes, no deductions) to every man woman and child working including corporations, Partnerships, and Sole Proprietorships. I would then cut out the Federal Dept of Commerce, Energy, Labor, Education, Interior, Health and Human Services and Housing and Urban Development. Each of these Departments have a state componant so let them run them.
Since we are in a war with radical Islam increase the federal flat tax to 10% until the war is over.
Comment by chuck
Aug 5th, 2008 at 12:09 pm
Insure every american,rich,poor and middle class?
Honestly if the Federal Goverment,any insurance corporation took such an approach like this. I can’t help think of bankruptcy. High taxes. But in the end I can’t help but of thinking if feds did this–they would go bankrupt.
Now if the insurance corporations were to do this,how would thier shareholders respond? The only solution I see from a plan like this is: that all the Insurance Corporations morphed into a huge comglerate to handle the costs of varied insurances policies. But insure every american would honestly be a daunting task.
Comment by ming bucibei
Aug 5th, 2008 at 8:48 pm
Funding is the big question
The work tied health care is a total failure and it leaves too many not covered
Third party payer is a concept failure; the actual consumer of the care is too far removed from the financial controls and can not exert control over costs
Insurance companies and persons with no medical training have too much control over care decisions
Gov central controlled programs are failures all over the world
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????how to solve the problems???
So far none of the proposed solutions are workable
maybe need to go back to the old system
ming
Comment by Jim La Follette
Aug 6th, 2008 at 1:17 am
We not only need a system, but we need cultural change. Having been in the Military for 20 years I am well versed in government run health care . My wife and I are used to a doctor changes every year and sometimes more often. We know people who do not have the same background that pay out of pocket because their health plan not longer includes “their” doctor. We know people who paid $800 per month for medicine out of pocket prior to the “pill plan” When we asked why not join an HMO with medicine coverage. The answer was HMO’s are bad. A politician told them so.
I strongly believe the Government lacks the ability to manage a national health plan, and the politicians have strongly under estimated the backlash they will face when they try to force this on Americans. It sounds good now because people are thinking “affordable is a code word for free”. The devil is in the details.
P.S we do not get fox business on DISH so only see the web. P.S it is good to see Neil back.
Comment by Jonathan
Aug 6th, 2008 at 2:04 am
Good interview. I can understand his interest in universal healthcare. I would feel the same way about this were i in his position. However, yet again no real answers to the question of “how” can we afford it. I’ve heard many questions, but no real solutions. Thanks Liz!