personal medical accounts: an alternative to compulsory health insurance

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Personal Medical Accounts: An Alternative to Compulsory Health Insurance Michael F. Cannon Director of Health Policy Studies, Cato Institute, USA Seminario Internacional FIAP 2010 06 y 07 de Mayo, Viña del Mar, Chile

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Personal Medical Accounts: An Alternative to Compulsory Health Insurance. Michael F. Cannon Director of Health Policy Studies, Cato Institute, USA Seminario Internacional FIAP 2010 06 y 07 de Mayo, Viña del Mar, Chile . Life-Saving Innovations. New treatments Error reduction - PowerPoint PPT Presentation

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Page 1: Personal Medical Accounts: An Alternative to Compulsory Health Insurance

Personal Medical Accounts:

An Alternative to Compulsory Health

InsuranceMichael F. Cannon

Director of Health Policy Studies, Cato Institute, USA

Seminario Internacional FIAP 201006 y 07 de Mayo, Viña del Mar, Chile

Page 2: Personal Medical Accounts: An Alternative to Compulsory Health Insurance
Page 3: Personal Medical Accounts: An Alternative to Compulsory Health Insurance

• New treatments• Error reduction• Secure health insurance• Greater accessibility• Electronic medical records• Coordinated care• Effectiveness research

Life-Saving Innovations

Page 4: Personal Medical Accounts: An Alternative to Compulsory Health Insurance

Source: Cato Institute

Page 5: Personal Medical Accounts: An Alternative to Compulsory Health Insurance

Source: Institute of Medicine

Annual Preventable Deaths, United States

48,000

18,000

98,000

Lack of health insurance Medical errors

Page 8: Personal Medical Accounts: An Alternative to Compulsory Health Insurance
Page 9: Personal Medical Accounts: An Alternative to Compulsory Health Insurance
Page 10: Personal Medical Accounts: An Alternative to Compulsory Health Insurance

• Maryland Medicaid– 16% of dentists accept – 30% of kids get dental

care• Mother could not find

dentist willing to accept Medicaid

• Infection from abscessed tooth spread to brain

• $250,000 spent on hospitalization, brain surgery

• Died in 2007, at age 12 “for want of a dentist”

Deamonte Driver

Page 11: Personal Medical Accounts: An Alternative to Compulsory Health Insurance
Page 12: Personal Medical Accounts: An Alternative to Compulsory Health Insurance

• Financed by reduction in each worker’s tax burden

• Investment rules similar to personal retirement/unemployment accounts

• Funds may be used to purchase health insurance or medical care directly

• Preserve freedom to save rather than purchase insurance

Designing Personal Medical Accounts