personal medical accounts: an alternative to compulsory health insurance michael f. cannon director...
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![Page 1: Personal Medical Accounts: An Alternative to Compulsory Health Insurance Michael F. Cannon Director of Health Policy Studies, Cato Institute, USA Seminario](https://reader030.vdocument.in/reader030/viewer/2022032800/56649d415503460f94a1b36f/html5/thumbnails/1.jpg)
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 Michael F. Cannon Director of Health Policy Studies, Cato Institute, USA Seminario](https://reader030.vdocument.in/reader030/viewer/2022032800/56649d415503460f94a1b36f/html5/thumbnails/2.jpg)
![Page 3: Personal Medical Accounts: An Alternative to Compulsory Health Insurance Michael F. Cannon Director of Health Policy Studies, Cato Institute, USA Seminario](https://reader030.vdocument.in/reader030/viewer/2022032800/56649d415503460f94a1b36f/html5/thumbnails/3.jpg)
• 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 Michael F. Cannon Director of Health Policy Studies, Cato Institute, USA Seminario](https://reader030.vdocument.in/reader030/viewer/2022032800/56649d415503460f94a1b36f/html5/thumbnails/4.jpg)
Source: Cato Institute
![Page 5: Personal Medical Accounts: An Alternative to Compulsory Health Insurance Michael F. Cannon Director of Health Policy Studies, Cato Institute, USA Seminario](https://reader030.vdocument.in/reader030/viewer/2022032800/56649d415503460f94a1b36f/html5/thumbnails/5.jpg)
Source: Institute of Medicine
Annual Preventable Deaths, United States
48,000
18,000
98,000
Lack of health insurance Medical errors
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• 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 Michael F. Cannon Director of Health Policy Studies, Cato Institute, USA Seminario](https://reader030.vdocument.in/reader030/viewer/2022032800/56649d415503460f94a1b36f/html5/thumbnails/11.jpg)
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• 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