Insurance companies are one of the most regulated industries on the planet. Instead of putting in place a Universal Healthcare System, should we model health insurance around the life insurance model in place today?
If we deregulate the insurance industry and allowed competition across state lines, it would be affordable.
You can have whole health that grows in value until you need it like whole life. You buy it young to get the cheap rates. You have term health that can be bought in 1 year, 5 year, 10 year or 20 year increments like term life. Premiums would be based upon the policy you choose and a physical exam.
1 year term health would be the cheapest and would cover the basic healthcare and the cost adjusts every year we get older. Whole health would be the most expensive and if you didn’t use the entire policy when you die, the retained value passes onto your children or spouse.
To me this makes sense vs. UHC. Thoughts?
