Leaving the Death Spiral
Obamacare is in a "death spiral" and more insurers will flee in 2018. There isn't enough money in the ACA today as it is structured – even with its fees and taxes – to support the population that needs to be served.
Hearing that there's "not enough money" in the Affordable Care Act may come as a surprise to individuals and businesses that have watched their premiums increase over the past few years. Is there another option?
American healthcare costs are way too high due in part to collusion, lack of price transparency, and anti-competitive practices by industry participants. However, there's also a more basic factor at work. We Americans are consuming too much healthcare.
It's time to ask the question – how do I improve my health, so I need less healthcare?
Once you realize that the vast majority of chronic disease is addressable through lifestyle modifications, and you actually make those modifications, our healthcare crisis seems much more manageable.
Even better, as a self-insured employer investing in a culture of health, you have the opportunity to win twice – not only can employees enjoy a much improved quality of life, but money that's not spent on overpriced healthcare is available to reinvest in your business.
The great news is that insurers aren't the only people who have the ability to leave the death spiral of our healthcare system. You can too.