Wednesday, February 27, 2008

The Medicare Solution

[Welcome Reuters and Insurance Forum readers!]

According to the trustees, Medicare's unfunded liability is $74 trillion -- five times that of Social Security. According to the Congressional Budget Office, health-care spending is on a course that could crowd out all other government programs. Clearly the time has come for fundamental reform.

The solution?

The White House proposed across-the-board cuts in payments to doctors and hospitals in the budget earlier this month

So obvious.

Pay medical providers less than they currently receive for services rendered.

Why didn't anyone think of this sooner?

Now if the private sector follows suit, we can completely eliminate medical care inflation as well as renewal premium increases.

Who knows? We might even see a Wal-Mart type rollback in pricing.

Can't wait to see those yellow happy faces in doctors offices and hospital walls.
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