Healthcare Reform

Though not a credit union-specific topic, I thought I would share a few comments I recently posted to a news publication regarding healthcare reform. Healthcare costs are certainly an issue for the industry, in fact I spoke yesterday with a credit union leader about the cuts they were making to benefits in response to the economic environment. In any case, here is my position (which, fundamentally, supports the further expansion of the HSA gains credit unions have made in recent years).

I happened to visit my doctor the other day and we got to talking about the healthcare issue. He is not in favor of the currently proposed plan(s). I asked him his opinions on a more effective solution. He said we already had one - Health Savings Accounts. I agree with him, and I have a HSA (self-funded as I am a self-employed small business owner).

His is one of the few doctors offices I have been to where they actually divulge the cost of the treatment BEFORE the treatment. With them, at least, you can match what you were told up front to the myriad bills, EOBs, etc. that come flooding through the mail as a result of the visit. You can also make more informed decisions about your treatment options.

Contrast that to an antibiotic recently prescribed for a family member. Their doctor handed them the prescription, and when they went to fill it they found it to be VERY expensive - about $300. They called the doctor back and asked about alternatives. His comment was, "I thought you had a good prescription plan." He then prescribed another antibiotic at about $250 less - which turned out to be no less effective.

We need healthcare reform, but mainly in the way doctors communicate options and the way consumers pay for those options. If cost is out of sight, then it is out of mind. What we have before us now is unsustainable change - a simple consolidation of the current problems into one location rather than a lasting solution.