3/22/2009

Hospital fees, legal fees and insurance premiums

The combination of these three elements in one go is the best we can get to emulate the great American society. We have arrived, in a way, like the Americans. And soon what is happening to AIG and the strong detest of the way they paid themselves will affect the people here. The AIG executives are living in fear of the brickbats that are coming their way. How long can they go on ripping the people off? The Americans are up in arms. And with the availability of firearms, do not be surprised if a few of them will be shot for crimes against the American public. The American society is plagued by huge hospital fees, huge legal fees and huge insurance premiums. And the way things are, we are heading into the same quagmire. The beauty of it is that we know exactly what it is going to be and we believe that this is the solution for a rich country like ours, like the Americans. Just pay your way through. No money no talk. How could the medical bill for a student suffering from leukemia reached $400K? Sure, you can count every item in the whole process, from ward charges to medicine and professional fees. So it is justifiable to charge that kind of inhuman fees? Totally transparent and accountable. This was the bill for Zhang Xiaoou that was highlighted in the Sunday Times today. How many people can afford this kind of money? Even $20k is a big problem to many. Then the whole process, in the case of car insurance and claims for damages and injury involving legal fees, my goodness, we have progressed as a nation, as a people beyond any means. Everyone is getting rich in the whole process without asking anything about the conscience of making money. Just find the reason, right or wrong, legal or illegal, and make the other party pays. And finally the innocent motorists will be the ultimate paymaster. And this is a free market economy. Nothing can be done. Everyone is paying market price for everything. It is the way and it should be.

6 comments:

Anonymous said...

what sort of healthcare u expect when the ex minister can say regret spend too much money to try to save a baby's life??
& he was even promoted on to a more prestigious post of ruining our countries trade.

there is no heart in any one of them. just vote them out!

Matilah_Singapura said...

> The American society is plagued by huge hospital fees, huge legal fees and huge insurance premiums. <

There are many reasons for that, and you haven't even discussed a single one, choosing instead to pen a moralising sermon which makes no economic sense (or moral for that matter) at all.

> And this is a free market economy. Nothing can be done. <

Logical fallacy: contradiction.

If it is really a free market economy then almost anything can be done — by definition. That's why free market solutions eventually work.

redbean said...

what the american market is today, the colossal medical fees and legal fees and insurance premium did not come about by accident. ti is a vicious cycle, partly as a result of free market mechanism. the doctors fear to be sued. so pay more insurance. and when covered, ok, never mind sue, insurance pays. lawyers jump in to make bigger and bigger claims to justify bigger legal fees. insurance claims go up and insurance premium must go up. want me to explain somemore?

what we are seeing these few years on hospital fees, motor claims and insurance premium were exactly how it go started in the US.

the cycle will get more vicious. actually many people should be dying as their lives are worth less than the $400k or $800k medical bills.

and big medical bills is a testament to good quality medical services. so must pay. the lawyers too will say you pay more for good legal service. don't complain.

Anonymous said...

The one unarguable argument is you pay more for good and honest politicians as well. And they will serve not for the money.

Can you honestly say humans can change their greedy ways? Never. It will and must always be the greedier the better, so it seems. And they may brush that aside as just 'criminal indulgence', nothing serious.

We have progressed economically, but at the expense of ignoring the moral and ethical side of human decency.

Lost Citizen

Matilah_Singapura said...

redbean: your "analysis" (so-called) is a hilarious read. You should join Michael Moore and concoct more conspiracy theories, and make movies out of them.

Hey, they sell :)

redbean said...

i am glad that you find my analysis hilarious. at least i have made you happy.

my god, you are so impressed by my few sentences to call them analysis? you haven't seen my real analysis yet. but i am not going to write on as it takes effort and is not for free.