Find Someone Else To Blame

Surprise: it’s not the NFL (SF and Cincinnati lose today, both by a lot, those are my unsolicited hot-takes). Our tried and true, favorite pastime is “Find Someone Else To Blame.”
When there’s no easy fix, and you want to avoid looking bad? You got it: Find Someone Else to Blame.

My favorite sport? Spot the hypocrisy. It’s not very difficult, lemme tell ya.

California’s Single Payer Healthcare Proposal: What to Know

There is a proposal in California where the state sets the reference price for healthcare services (link). It has passed a first step in the legislative process. Opinion alert: good luck, lemme know how it works out for ya.

Does this look like standardized payment rates will be easily accepted?

Notably: I am not stating that something is factually wrong here, nor that he isn’t entitled to his view.

Spotting Hypocrisy Is Easy

To divert scrutiny, the point magically transforms to “needs of patients?” How about every provider accept the lowest negotiated price in a location, via Dutch Auction (link) process?

I already know what the response will be, don’t bother.

If You Want Lower Systematic Healthcare Costs

  1. You’ll need to rip it down to the struts, and we don’t have the political will to enact that. The first set of tweets isn’t factually incorrect: becoming a physician isn’t a great, probability-adjusted financial decision. Take my two schools, and you are looking at $500k of tuition (no books or beer yet). And then later, presuming you actually make it, your income will be paid by a price-setter that you do not control. If you erased the word “doctor,” with almost anything else, this would be an almost-comically bad idea.

  2. If you want to believe that any single stakeholder is innocent (doctor, hospital, pharma, insuranceco), I have got a ONCE IN A LIFETIME DEAL (on swampland) for you.

  3. “That’s not the way it’s supposed to be,” “Government should yadda yadda,” this is not the forum for hashing out philosophical differences, and you should re-read point #1.

By the way, I intentionally chose an Asian doctor, so that newcomers here cannot suggest to me that I’m biased (because I liked the food that I ate during childhood, which was the product of my late father’s work).

Anyways…can we return to making sure that you get the most fitting answers and information, given an imperfect world where utopia will be very difficult to identify, much less attain?

Health Insurance Terminology

This is a good explanation of premium, deductible, copay and coinsurance, the language of health insurance (link).

…Until the end, this is a very regrettable paragraph.

Talk with your insurance provider

If you’re trying to pick the right insurance for you, visit with a local health insurance provider. Many companies offer one-on-one guidance counseling to help you understand your options, weigh your risks, and select a plan that’s right for you.

I don’t know due to the diction here. A carrier cannot compare its policy to another carrier’s policy, so you have no basis to tell which of the many plans is best. A broker can. As clear as the previous paragraphs of the article are, this portion is incredibly vague.

Quoting Tool

The “Average” is the same here, but these three curves are obviously different.

Mister Market has told you already, we have simply moved from the blue line to the yellow, that was the point of “When Will The Volatility Stop? (link)

Even if you are completely uninvolved in financial markets, you face these curves all the time. When it comes to any financial matter, you may privately have a different curve, for a long list of reasons. Here are just a few.

  • Some people do not have the flexibility to weather wide swings, so the yellow line presents a problem.

  • Some people will face the yellow line more than others for a wide set of reasons (enter Mr Perfect vs Mr Sikalot).

  • Some people do not like volatility, they find no joy in up-and-down.

Important note: read the bullet points, there is no mention of financial markets like stocks and bonds, this has to do with every single component of a financial setup. Easy examples include:

  • Social Security timing

  • Accept early retirement buyout lumpsum

  • Insurance planning (life, health)

The important takeaway is that you understand which curve fits your description and your priority set. From that point, only after established, you can make fitting decisions on everything. And then, there’s more, the combination of topics will be crucial, because the “silo effect” of attempting to keep different topics separate will likely result in something big being missed.

We know the ‘average,’ which is identical in all three curves, that is not particularly interesting. It’s the reason for this oldie-and-not-very-goodie: