What happens when you pay a business to pay for a good or service on your behalf? It’s a legitimate question, as this type of transaction costs many Americans thousands of dollars every month in the form of health insurance payments and taxes paid to the government.
Although many people don’t realize it, deferring decision-making to third parties results in a loss of consumer power. So, when we allow health insurers and governments to control our health care system, we lose control of our health care.
Some people erroneously believe putting insurers and bureaucrats in charge of health care reduces costs. But research clearly shows costs rise when consumers don’t pay for their own health care. For many, paying third parties only feels like it results in cost savings, but the truth is, costs are simply obscured in a maze of premiums, taxes, payroll deferral, deductibles, and copayments. As a result, most people have no idea how much they actually spend each year on health care.