Thursday, July 23, 2009

MSL Article

I just published an intro to the Medical Savings and Loan.

I did not have time to read and edit it. I have to take someone-else's dog for a walk. (Grumble, grumble).


Scott Hinrichs said...

Fantastic article. The plan creates incentives for proper self care and prevention. It takes the third party out of most medical transactions, while providing a prudent level of security. Something like this would change our individual approach to health care and would positively revamp an entire industry.

One thing I would do, however, would be to separate the employer from the MSL. Let anyone join any MSL they wish and allow them to have automatic payroll deduction. This would reduce one of the fear factors in employment changes.

y-intercept said...

A Medical Savings and Loan, by its very nature, is individual based.

What happens is that people build up equity in their account. They will not lose this equity when they switch jobs.

If I had $5k in my account when I get fired, I would still have that $5k.

The employer would interface into the MS&L as a third party.

I mentioned that an employer might issue directives about health care. They might directly fund procedures like the annual check ups, etc.. On losing a job, a person might lose some add ons, but they keep the primary equity in their account.