HEALTH INSURANCE OR HEALTH CARE?
Then, you bought Major Medical with a HIGH DEDUCTIBLE for $3,000, to $5,000 or $10,000 and you would have 80% coverage for up to $25,000 or $50,000 of benefits. This coverage would normally cover almost all Major Medical outcomes. In other words, you and your family were self insured for the reasonably small stuff with minimal premium payment. This was for a relatively low premium (what the insurance industry called payments) based your choices, family and on health and age. Many families had emergency coverage for their child(ren) through a private student plan sold at the first of the school year. Ked's or Converse All Stars were initially, the only designer tennis shoes which you got at Sears or Montgomery Ward's for $5-8 and the penny loafer was for upper middle class for $10-15. I don't remember for sure, but if you got more than 2 pairs of each annually that was a big deal
If you wanted, you could purchased room and board at $30 to $100 a day. My clients could add emergency room coverage which would be 3 to 5 times their room rate. A surgery schedule was available from $300 to $1200. This coverage allowed Major Medical to be added and would, like above, cover basic and most Medical disasters. The premium was mush more than major medical. This began to come about as family Doctors and hospitals no longer would just write some of their bill
21815 Highway 98 East
Foley, AL 36535
hickslaw@hotmail.com
prestonlhicks@gmail.com
Phone: 251-943-7266
Fax: 251-943-9772
1-800-BANKRUPT
1-800-DIVORCE
My office is two (2) miles East from the intersection of U.S. HIGHWAY 98 and AL HIGHWAY 59 on the LEFT HAND SIDE.
My office is .2 (2/10's) of a mile West of the intersection of THE FOLEY EXPRESSWAY and U.S. HIGHWAY 98 on the RIGHT HAND SIDE
off if you paid most of it. With client's who had HEALTH INSURANCE COVERAGE
Doctors & Hospitals usually accepted the Insurance payment.
In the 70's, Credit cards and inflation came along which offered many a way to pay bills off over a period of time. At first, the interest on credit cards was deductible and could never go over 18%. Most charged 5% to 10%. This started to get Americans hooked on access to credit but few had only 1 or 2 cards. 1 MasterCard & 1 VISA with virtually no fees other than late fees after over 30 days.
I sold Group Health insurance as a part of my practice to Professionals and Small businesses. My company started the first group plan with Montgomery Wards. The options were similar to those above, but 5 -10 were a minimum group and the rate was lower than what an individual would pay with some term life insurance included. Often the Employer would pay for some or all of the monthly cost for the Employee with coverage @ 80% over the deductible. This helped Employers retain Employees, which used to be a good thing.
As coverage went up and groups could include DENTAL, VISION & PRESCRIPTIONS, the coverage covered more and more. I even had one Company for whom I was a General Agent, offering 100% Benefits after the deductibles and initial co-pays were made. The problem: Doctor, prescription and Hospital payments shifted or were greatly reduced for almost everyone & Vision and Dental for some.
The insurance industry had become the 3rd party payor(the one who pays the bill) to those in the Health industry. Thus, health care cost began to skyrocket. Individuals by & large had no real impact by those increases and the burden of health insurance became too much.
IT WAS HEALTH INSURANCE (similar to car insurance) which was designed to spread the cost over a larger group who qualified and initially who had to be somewhat healthy for initially basic & emergency medical expenses. This then EVOLVED INTO HEALTH COVERAGE to cover ALMOST EVERYTHING. Not to mention Union involvement which wanted the employer to cover more and even provide many other Employee Benefits paid for by the EMPLOYER & insurance company.
The number of people and benefits covered by Medicare took off and rapidly grew in continually increasing numbers. As our country and states added employees with often better benefits and we became a WEALTHIER U.S.A. (or so it seemed) with wealth almost everywhere, we increased MEDICAID benefits to those who didn't have HEALTH INSURANCE, the burden for these same governments rose exponentially.
BUT WAIT, who pays the BILL to fund these governments and ALL they provide?
THINK CAREFULLY! Hint...It's not BIG CORPORATIONS or those Federal or State GOVERNMENTS, not even LOCAL governments. Whether it's Sales TAX, Gas TAX, Real Estate TAX, Income TAX OR THOSE hidden (so called fees) on your cable, satellite, phone, electric & water or wherever else. It is ALL OF US, who work and consume.
Corporations simply pass it on as a part of their COST of doing BUSINESS To the so called consumer. SO, who is it?
IT IS EACH AND EVERYONE OF US WHO EARN MONEY AND CONSUME ANYTHING.
PRESTON
Coming soon...the impact Now on EACH ANDEVERYONE OF US...including our children...their children and our small businesses and JOBS.
Who consumes if consumers have no money?
FOR UPDATES: prestonlhicks.blogspot.com
21815 Highway 98 Easthickslaw@hotmail.com
prestonlhicks@gmail.com
Phone: 251-943-7266
Fax: 251-943-9772
1-800-BANKRUPT
1-800-DIVORCE
