President-Elect Trump has already said that it is his intention to immediately repeal Obamacare and replace it with something else. I have to tell you, he was not my candidate of choice, (but then neither was Hillary). I did not think that he had the experience to run the country, let alone get involved with healthcare. But what I am hearing from his camp so far makes a lot of sense to me.
His proposal ( and this will likely change in some of the details once he tries to get this past Congress) is to repeal Obamacare and replace it with personal Health Spending Accounts. If you don't have one of those at work, it is where money is set aside from your paycheck into a special account for your healthcare on a pre-tax basis. You then have the ability to choose where and how you want your healthcare dollars to be spent, Makes sense,
Moreover, he wants to break down the barriers of insurance companies between state lines. Right now insurance companies have to be licensed to sell insurance in each different state that they operate in, If there are different criteria for each state, they must meet that criteria, or not sell insurance there. This is actually a very smart business move. By putting the buying power directly into the hands of the consumers, and breaking down the state barriers, this will open up the competition, and potentially drive the prices down. If he can pull this one off, this would be revolutionary.
I didn't want to like him, but this could be good for America. And like him or not, there will be changes to the healthcare system. We, as Medical Billing Professionals have to be ready for what comes forward. I do not think that we will all be out of jobs, and it could, in fact, create more jobs if handled the right way,
So, Mr. Trump. I anxiously await what I will see from you in this field.
Until next time:
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Author, Medical Billing, Coding, and Reimbursement
A medical billing professional for over 30 years now, I have seen a lot of changes in this field, and there are a lot more on the horizon. Follow me as we see what they mean and for who.