Title: Healthcare as a commodity – a financing mechanism to control costs and ensure access

Authors: Aaron Liberman, Timothy Rotarius

Addresses: Graduate Programme in Health Services Administration, College of Health and Public Affairs, University of Central Florida, Orlando, FL, 32816, USA. ' Graduate Programme in Health Services Administration, College of Health and Public Affairs, University of Central Florida, Orlando, FL 32816, USA

Abstract: The US healthcare system is experiencing a funding shortfall that constrains efforts to provide healthcare to our citizens. Patients are no longer sure they will receive adequate healthcare during their senior years. One solution is to create an annuity at birth for each individual. This annuity will mature at age 65, with proceeds used for healthcare for the rest of one|s life. The total investment for this annuity programme will come from the Federal government at the rate of $1000 per year for the first 3 years of one|s life. The use of annuities, with their interest compounding concept, means that a minor investment by the Federal government results in substantial dollars being available to pay for healthcare at age 65.

Keywords: commodity; cost control; financing mechanisms; healthcare delivery; Medicare; stakeholders; public policy; annuities; senior citizens; elderly; old age; retirement; United States; USA.

DOI: 10.1504/IJPP.2006.010846

International Journal of Public Policy, 2006 Vol.1 No.4, pp.407 - 420

Published online: 06 Sep 2006 *

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