nos-trum. pronunciation: \nos'-trum\. noun. Etymology: Latin, neuter of noster our, ours.
1. a medicine of secret composition recommended by its preparer but usually without scientific proof of its effectiveness.
2. a usually questionable remedy or scheme.
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Tuesday, July 6, 2010

Germany's Universal Health Care Financially Unstable

Germany, the next universal health care system to start running out of money.

Over the last year, we've seen the highly touted systems in other countries begin to crack at the seams.  See my post on Canada's system being forced back into a partially private insurance mode.  The failings of Britain's notorious National Institute for Health and Excellence, (abbreviated NICE, for heaven's sake) are well known:  out of money, they are considering cancelling expensive hip replacements for the overweight--for a year--to generate revenue to keep the system going (weight loss programs for these folks are a waste of time; see my here).

Now Germany is on the rack (Assoc Press, July 6) :
"Germany's once highly regarded mandatory health insurance covers about 72 million people, or 90 percent of the population. It has already gone through a series of reforms to stabilize its financial base. Costs are rising swiftly because of ever more sophisticated treatments and an aging population." [Doc D:  note they don't blame the recession.]
For a great account of the fundamental error of these health care systems, see William Veogeli's recently published, Never Enough: America's Limitless Welfare State.  He charges that the political Left's "lack of a limiting principle" in the pursuit of equality leads "Americans to regard their government as a vehicle for exploiting their fellow-citizens."  A never-ending cycle that leads to a stagnant condition where everyone gets very little.

Germany's solution?
"To deal with a projected euro11 billion ($13.9 billion) hole in 2011, the government decided to increase premiums to 15.5 percent of workers' gross pay, up from 14.9 percent with contributions split between employers and employees. The hikes are to bring in about euro6 billion ($7.6 billion)."
As Margaret Thatcher said, "Socialism works until you run out of other people's money."

Doc D

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