Top positive review
6 people found this helpful
on May 3, 2008
Probably one of he best critiques of what ails the US healthcare system today. So-called health "insurance" isn't insurance. What is insurable about the risk that I will visit my doctor for an annual physical or my dentist for a cleaning? Why shouldn't I pay these out of pocket and use insurance to pay for what I can't pay out of pocket -- a catastrophic health incident? We get really interested in what we pay for out of our own pockets, but it has to be more than a co-pay or low deducible.
Like Social Security, people are not given an incentive to save for the healthcare needs of old age and Kling recommends a tax-exempt account which, if started at age 30 with annual contributions of $1600 and 3% real interst, would accumulate to $100,000 by age 65. At that time the owner would buy a "rest of life" insurance policy for a $25,000 premium with a $75,000 deductible. Medicare is phased out gradually. Make sense? That's why you'll never seen a politician support it. They can only think in terms of government run programs -- the same government that gave us postal "service", Medicare, and a social security programs whose paltry returns would get a commercial annuity manager fired or jailed for pocketing contributions net of payments instead of paying them to a decedent's estate.
This is a great book to read in an election year when everyone has a solution to healthcare in America.