You may have noticed that one recurring theme in my writing on issues such as universal health care has been my concern that nothing much has been done to at least review, and preferably reign in the rate at which medical expenses are rising.
A share of the burden for such a challenge rests on the shoulders of consumers themselves (heaven help us).
In a recent post at InsureBlog, Bob Vineyard coins a new term, “Phantom Insurance”:
It seems that consumers everywhere are complaining about the cost of health care and health insurance.
At the same time they are throwing away dollars like there was no tomorrow, buying phantom insurance and other ways to waste their money.[...]
Phantom insurance isn’t insurance at all. It is additional premiums paid for coverage that does not exist and a complete waste of money.
When consumers stop buying phantom insurance they can pocket more of their hard earned money and stop padding the coffers of the carriers.
There are several examples worth considering in Bob’s post.
I suppose that it’s futile for me to hope for some sanity in the whole system of medical care cost billing and utilization, unless normal folks start putting a little thought into how their own money is spent.