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Wednesday, March 01, 2006

Likely Result of Employer Provision of All Necessities

Dan Weintraub compares the inherent problems of employer provision of healthcare with the supposition of employer rendition of housing, transportation and food for employees. All of the problems of 3rd-party payers and lack of choice for consumer bear out.

Some of the negatives are:

1. Lower pay;
2. Less Choice;
3. Worse service;
4. Cost increases;
5. Emotional insecurity.

Anytime there is this 3rd party provision of "necessities", these 5 issues emerge. I will also add the eventual government dictate that no private alternatives are allowed. Think of other areas of life where someone other than yourself handles necessities. Consider government's provision of retirement benefits AKA Social Security:

The taxes have increased from 2% to 12.4%. That lowers pay.
The retiree has little choice over the type of investment and thus the returns for his "contributions".
The new drug plan is reported to have caused massive confusion for retirees.
The benefits do not adequately cover the costs of living for the life-style of one's choosing.
Baby boomers who have "banked" on this money now face likely benefit reductions (if not discontinuance when my kids wake up to the inequity of their obligations that they never voluntarily accepted).

As an aside, I look forward to the democratic wars of the future when those who have bludgeoned our children's financial future with these benefit plans lose their majority status.

Thanks to Coyote Blog for this link.

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