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Last Updated: Feb 13, 2017 - 1:45:37 AM |
 Now that legitimate debate has galvanised around National Health Insurance and its possible failure as a result of lack of capacity (infrastructure and staffing), limited cost information and more, the governing party is back on the attack.
Instead of charging that doctors are greedy as the Prime Minister recently opined, this time it’s the local insurance companies and their need to make a profit to survive that’s the problem.
Specifically, the PLP are accusing private insurers of wanting to form a “monopolistic cartel with unfettered powers to raise premiums to ensure profits”.
This reaction is typical of many in the political class when they do not have a reasoned rebuttal. That aside, profit is a valuable tool for the private sector. It not only helps create wealth, it ensures businesses can keep people employed, pay expenses and taxes.
To suggest it is governments responsibility to get into the health insurance business to provide competition to private insurers indicates either deceitfulness or a complete lack of understanding of the role of government and the results of the services it provides.
Of course humans are not angels so fraud will not occur, but the proper role for government is policing and punishing theft, whether by business, individuals, politicians or civil servants.
The facts are, when businesses (read political cronies) cannot look to government for favours with taxpayer dollars they must improve or go out of business. Governments simply run deficits and borrow and use its unfettered power to burden taxpayers with higher taxes.
Having said all that, the third party-payer system, requires deeper study. More inefficiencies would be ruled out if medical transactions were directly between the doctor/clinic/health provider and patient, where the price for service can be questioned and/or negotiated, as in the case with uninsured patients. But government entering the health insurance business is certainly not the answer. It will probably make things worse in the long run.
So quite the contrary, profit is good and more government deficits and debt is bad.
Sincerely,
Rick Lowe
weblogbahamas.com
© Copyright 2015 by thebahamasweekly.com
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