What's it all about?
Health care is a big, and growing part of the US economy. Over the last couple of years, because of my work on different committees of the Society of Actuaries, I have struggled with the question of the Actuarial perspective on health care financing and its reform. I have not come to a satisfactory answer on it yet. But it is a debate that should be pursued, both by actuaries and non-actuaries.
That is what this blog is about.
That is what this blog is about.
posted by Solucia, Inc. at 9:34 AM
3 Comments:
This is a great idea, and a subject I would like to hear more on from other health actuaries. I'll start the ball rolling by saying that as a first step our society needs to realize that there have to be trade-offs (you can't have everything!). Actuaries understand this because we're used to looking at the costs associated with any component of coverage. But in the absence of a more informed discussion our country ends up making trade-offs that were not explicitly acknowledged and chosen. For example, the new Medicare drug benefit chose a "doughnut hole" that many are very unahppy with, rather than having other benefit reductions (like a higher deductible or coinsurance) or having higher taxes and/or deficits. Maybe actuaries can help bring the facts about these trade-offs into the debate, so that voters make more informed choices.
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Hi Ian...I am actually posting regarding your article in the May 2005 HIU. (That okay to do?) What are your thoughts on the numerous large employers who have implemented full replacement CDH plans (which eliminates the adverse selection issues) and have reported significant reductions in utilization and costs...many of them are fully creditible as they are plans with several hundred or even a 1000 or more employees in the full replacement CDH plans...and are now in their 3rd or even 4th year with the CDH plan.
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