1 00:00:00,600 --> 00:00:05,200 Speaker 1: Hey, Michael, today's your first opportunity to interact with goobers. 2 00:00:05,640 --> 00:00:08,240 Speaker 2: I hope you'll looking forward to it, because we sure are. 3 00:00:10,520 --> 00:00:10,719 Speaker 3: Made. 4 00:00:10,880 --> 00:00:14,600 Speaker 1: Seriously, goobers are not allowed to show up today because 5 00:00:14,640 --> 00:00:15,920 Speaker 1: the last thing I want to do is have to 6 00:00:16,040 --> 00:00:18,800 Speaker 1: rub elbows with a goober. It's bad enough that I'm 7 00:00:18,800 --> 00:00:21,280 Speaker 1: sitting here with Shannon Scott, who's back there with a 8 00:00:21,320 --> 00:00:24,040 Speaker 1: pro paine tank. He actually has a propane tank and 9 00:00:24,079 --> 00:00:26,320 Speaker 1: he's trying to light it. So if you're a big kaboom, 10 00:00:26,720 --> 00:00:28,880 Speaker 1: somebody just call an ambulance and at least try to 11 00:00:28,920 --> 00:00:31,480 Speaker 1: save Shannon, because I nobody cares about me. We are 12 00:00:31,520 --> 00:00:34,559 Speaker 1: We're broadcasting live today from the King Supers at Colorado 13 00:00:34,600 --> 00:00:38,559 Speaker 1: Boulevard and Yale in University Hills shopping area. If you 14 00:00:38,560 --> 00:00:41,160 Speaker 1: guys know where that is. There's a Marshall's and Pet 15 00:00:41,200 --> 00:00:43,400 Speaker 1: Smart and everything, so you can you can actually stop 16 00:00:43,440 --> 00:00:45,320 Speaker 1: buy and get me some dog food the Limburger's and 17 00:00:45,360 --> 00:00:49,680 Speaker 1: donate that too. But we're collecting donations for the Colorado 18 00:00:50,280 --> 00:00:52,640 Speaker 1: Food Bank of the Rockies. We're gonna be here until 19 00:00:52,720 --> 00:00:55,800 Speaker 1: nine o'clock tonight Colorado and Yale. We're trying to help 20 00:00:55,840 --> 00:00:59,080 Speaker 1: those in need with Koa's holiday food drive that does 21 00:00:59,160 --> 00:01:03,120 Speaker 1: benefit the Food of the Rockies. So you can donate turkeys, food, cash, 22 00:01:03,400 --> 00:01:05,839 Speaker 1: and there's going to be a QR code here somewhere. 23 00:01:05,880 --> 00:01:07,880 Speaker 1: I think I think they put the QR cote on 24 00:01:07,920 --> 00:01:10,000 Speaker 1: the desk over there, so they'd be a QR code 25 00:01:10,040 --> 00:01:12,320 Speaker 1: if you want to donate some cash. This is presented 26 00:01:12,319 --> 00:01:14,600 Speaker 1: by Red Bird Farms and their generous donation of more 27 00:01:14,640 --> 00:01:18,400 Speaker 1: than four thousand pounds of chicken breasts and the Colorado 28 00:01:18,480 --> 00:01:21,440 Speaker 1: GMC dealers. Visit your local gmced ealer for the full 29 00:01:21,480 --> 00:01:23,640 Speaker 1: seer of family lineup. Let me just tell you we're 30 00:01:23,680 --> 00:01:27,000 Speaker 1: gonna we're gonna talk about the Chinese Communist Party and 31 00:01:27,120 --> 00:01:29,119 Speaker 1: farm land, which I think is kind of ironic in 32 00:01:29,120 --> 00:01:30,959 Speaker 1: just a moment. But before we get to that, let 33 00:01:31,000 --> 00:01:32,720 Speaker 1: me just give you a I have a little cheat 34 00:01:32,760 --> 00:01:34,840 Speaker 1: sheet here about the Colorado Food or the Food Bank 35 00:01:34,840 --> 00:01:37,319 Speaker 1: of the Rockies. So some of the items that they 36 00:01:37,600 --> 00:01:42,800 Speaker 1: that make gronation that make great donations include peanut butter, apasta, tuna, 37 00:01:42,840 --> 00:01:46,919 Speaker 1: beef stew, chili, baked beans, soup, canned fruit, canned veggies, jelly. 38 00:01:47,680 --> 00:01:50,760 Speaker 1: They don't want anything, though, don't bring your crazy can 39 00:01:50,840 --> 00:01:53,960 Speaker 1: good out here. If it's damaged or it's expired. We're 40 00:01:54,000 --> 00:01:57,320 Speaker 1: not just trying to let you offload your expired food 41 00:01:57,320 --> 00:01:58,760 Speaker 1: that you looked at. H I'll take this out and 42 00:01:58,880 --> 00:02:00,960 Speaker 1: give it to them. No, you can't do that. Or 43 00:02:00,960 --> 00:02:03,760 Speaker 1: if you've got something as package and glass, don't send that. 44 00:02:04,080 --> 00:02:07,320 Speaker 1: So canned vegetables on a peanut butter, pasta, tuna, be 45 00:02:07,400 --> 00:02:10,480 Speaker 1: stoochially baked bean soup, canned fruit, canned veggie's jelly, all 46 00:02:10,520 --> 00:02:12,160 Speaker 1: of that be here and bring it out. We're at 47 00:02:12,200 --> 00:02:14,800 Speaker 1: Colorado and Yale at the King Soupers. I'm sitting out 48 00:02:14,840 --> 00:02:17,680 Speaker 1: here out front freezing my butt off because Shanny can't 49 00:02:17,680 --> 00:02:21,200 Speaker 1: get the profane tank to light. So at some point 50 00:02:21,240 --> 00:02:23,160 Speaker 1: we'll blow up and that'll be the end of it 51 00:02:23,200 --> 00:02:25,200 Speaker 1: and it'll make for great radio and you guys can 52 00:02:25,440 --> 00:02:27,800 Speaker 1: laugh your butts off. I want you to imagine, for 53 00:02:27,840 --> 00:02:31,800 Speaker 1: a moment, receiving a hospital bill for fifty thousand dollars 54 00:02:31,840 --> 00:02:34,840 Speaker 1: fifty grand, and then you see your insurance company slash 55 00:02:34,880 --> 00:02:37,000 Speaker 1: it to one hundred and fifty dollars out of pocket. 56 00:02:37,320 --> 00:02:40,080 Speaker 1: So suddenly relief washes over you because now you're not 57 00:02:40,120 --> 00:02:40,760 Speaker 1: paying as much. 58 00:02:40,800 --> 00:02:42,359 Speaker 3: Right. But here's the problem. 59 00:02:43,280 --> 00:02:48,399 Speaker 1: Those savings are completely illusionary because they're funneled straight back 60 00:02:48,440 --> 00:02:52,760 Speaker 1: into your and other taxpayers monthly premiums and your tax bills. 61 00:02:53,320 --> 00:02:56,440 Speaker 1: This is kind of a seductive sleight of hand of 62 00:02:56,480 --> 00:02:59,359 Speaker 1: the US health insurance system. It's a machine that inflates 63 00:02:59,360 --> 00:03:02,760 Speaker 1: the costs, it lines pockets of the insurance companies, and 64 00:03:02,800 --> 00:03:06,200 Speaker 1: it propels this country toward fiscal ruin. So you're gonna 65 00:03:06,200 --> 00:03:08,440 Speaker 1: hear a lot in the next couple of weeks as 66 00:03:08,480 --> 00:03:11,800 Speaker 1: they start to debate the next continuing Resolution, because it 67 00:03:11,880 --> 00:03:15,119 Speaker 1: expires sometime in January. They'll debate it a little bit. 68 00:03:15,600 --> 00:03:17,799 Speaker 1: I'm just knowing how Congress works. What they'll do is 69 00:03:18,080 --> 00:03:20,320 Speaker 1: they'll start the debate sometime the next week or so, 70 00:03:20,400 --> 00:03:22,440 Speaker 1: as soon as they get over the Epstein stuff, which 71 00:03:22,440 --> 00:03:25,519 Speaker 1: we will address that in a minute too. But once 72 00:03:25,560 --> 00:03:27,799 Speaker 1: they get through some of the Epstein stuff, then they're 73 00:03:27,800 --> 00:03:31,160 Speaker 1: gonna start looking at the Affordable Care Act Obamacare and 74 00:03:31,280 --> 00:03:35,680 Speaker 1: try to start talking about the tax credits that actually 75 00:03:35,720 --> 00:03:38,560 Speaker 1: go to the insurance companies. Let me just tell you 76 00:03:38,560 --> 00:03:41,720 Speaker 1: real quickly how it works. So they set up the exchange. 77 00:03:41,920 --> 00:03:46,280 Speaker 1: You have these insurance companies that are required because of 78 00:03:46,280 --> 00:03:51,360 Speaker 1: Obamacare to create a risk pool that covers everything. So 79 00:03:51,400 --> 00:03:54,120 Speaker 1: instead of having a risk pool that I might join 80 00:03:54,200 --> 00:03:57,720 Speaker 1: because I obviously don't need maternity care. My wife doesn't 81 00:03:57,760 --> 00:04:00,680 Speaker 1: need maternity care. We're kind of beyond that child age. 82 00:04:00,720 --> 00:04:03,000 Speaker 1: I mean, we might, you know, adopt a child or something. 83 00:04:03,040 --> 00:04:05,160 Speaker 1: Don't don't so say, don't know, I'm do that, but 84 00:04:05,720 --> 00:04:08,440 Speaker 1: we're not going she's not going to get pregnant. Okay, 85 00:04:08,600 --> 00:04:11,120 Speaker 1: let's just you can figure out why, but it's not 86 00:04:11,360 --> 00:04:12,160 Speaker 1: going to happen. 87 00:04:12,360 --> 00:04:13,960 Speaker 3: No, it's not, because it means because of her man. 88 00:04:14,560 --> 00:04:15,040 Speaker 3: So there. 89 00:04:15,920 --> 00:04:19,120 Speaker 1: What they do is they create these risk pools, but 90 00:04:19,200 --> 00:04:23,600 Speaker 1: because they're required to cover everything, they can't. The insurance 91 00:04:23,600 --> 00:04:27,279 Speaker 1: company cannot minimize its risk by saying, oh, we could 92 00:04:27,279 --> 00:04:29,440 Speaker 1: put you over here into this pool, and so your 93 00:04:29,520 --> 00:04:31,880 Speaker 1: rate would be X because you don't want any sort 94 00:04:31,880 --> 00:04:35,840 Speaker 1: of maternity costs or chry you know, pediatric services or anything, 95 00:04:36,040 --> 00:04:39,200 Speaker 1: so you would go into that risk pool. Then they 96 00:04:39,279 --> 00:04:41,919 Speaker 1: might have another risk pool that would obviously be for 97 00:04:42,000 --> 00:04:45,480 Speaker 1: younger people, young families starting out. They're gonna have pediatric care, 98 00:04:45,520 --> 00:04:48,880 Speaker 1: they're going to have obgyn care, they're gonna have maternity care, 99 00:04:48,920 --> 00:04:51,080 Speaker 1: all of that. So then they create a risk pool 100 00:04:51,120 --> 00:04:53,760 Speaker 1: over here for those people, and those rates would be 101 00:04:53,800 --> 00:04:57,280 Speaker 1: different obviously than the rates for me because I don't 102 00:04:57,320 --> 00:05:00,440 Speaker 1: have those things. However, my rates might be equally a 103 00:05:00,480 --> 00:05:03,200 Speaker 1: little bit more because I'm getting older. So as you 104 00:05:03,240 --> 00:05:06,000 Speaker 1: get older, you have more health problems, although I'm fortunate 105 00:05:06,040 --> 00:05:09,800 Speaker 1: to have very little of any health problems whatsoever. So 106 00:05:09,839 --> 00:05:12,480 Speaker 1: that's how they design a risk pool, and that's how 107 00:05:12,520 --> 00:05:15,719 Speaker 1: they design the rates. But what happens with Obamacare is 108 00:05:16,560 --> 00:05:19,880 Speaker 1: those insurance companies that are on the exchange, and here's 109 00:05:20,200 --> 00:05:22,640 Speaker 1: here's a good reason why they remain on the exchange 110 00:05:23,000 --> 00:05:25,920 Speaker 1: is because they're able to keep all of the tax 111 00:05:26,000 --> 00:05:30,080 Speaker 1: credits that go to the insurance company. So let's just 112 00:05:30,080 --> 00:05:32,560 Speaker 1: say the tax credit is it's either twenty or twenty 113 00:05:32,600 --> 00:05:35,440 Speaker 1: five thousand dollars. I forget what the amount is. Let's 114 00:05:35,440 --> 00:05:38,920 Speaker 1: just say it's twenty thousand dollars a policy. So of 115 00:05:38,960 --> 00:05:41,120 Speaker 1: that twenty or maybe twenty five, but I'm going to 116 00:05:41,200 --> 00:05:44,280 Speaker 1: use twenty of that twenty thousand dollars. That's a so 117 00:05:44,400 --> 00:05:48,600 Speaker 1: called air quote here tax credit. It gets paid directly 118 00:05:48,640 --> 00:05:51,680 Speaker 1: to the insurance company. So when you sign up for 119 00:05:51,760 --> 00:05:55,880 Speaker 1: a policy on the exchange, they get a twenty thousand 120 00:05:55,960 --> 00:06:00,000 Speaker 1: dollars cash payment into their coffers. 121 00:06:00,000 --> 00:06:00,520 Speaker 3: There's the deal. 122 00:06:01,400 --> 00:06:04,039 Speaker 1: The insurance company's allowed to take I think somewhere between 123 00:06:04,120 --> 00:06:06,280 Speaker 1: twenty and twenty five percent, about a quarter of it 124 00:06:07,240 --> 00:06:10,000 Speaker 1: they can take off the top to line their own 125 00:06:10,080 --> 00:06:13,800 Speaker 1: pockets by saying that it's going to be for administrative 126 00:06:13,839 --> 00:06:17,640 Speaker 1: costs for their sheriff profits blah blah blah. So of 127 00:06:17,680 --> 00:06:21,480 Speaker 1: the twenty thousand dollars, a quarter of that five thousand 128 00:06:21,520 --> 00:06:25,280 Speaker 1: dollars immediately goes into their pockets. Then, of course they 129 00:06:25,279 --> 00:06:28,080 Speaker 1: would only use those credits. What's left of the you know, 130 00:06:28,120 --> 00:06:31,160 Speaker 1: the twenty the fifteen thousand dollars, they would then use 131 00:06:31,440 --> 00:06:36,280 Speaker 1: that to cover any you know, costs that are incurred 132 00:06:36,360 --> 00:06:39,320 Speaker 1: because you use one of the benefits under the policy 133 00:06:39,320 --> 00:06:42,120 Speaker 1: that you got on the exchange. So you get the 134 00:06:42,120 --> 00:06:44,200 Speaker 1: one hundred and fifty thous you get the fifty thousand 135 00:06:44,200 --> 00:06:47,039 Speaker 1: dollars hospital bill, it gets slashed one hundred and fifty 136 00:06:47,080 --> 00:06:50,960 Speaker 1: dollars out of pocket. You breathe a deep sigh relief 137 00:06:51,000 --> 00:06:53,880 Speaker 1: because you think, oh, that's really good. But the fact is, 138 00:06:54,360 --> 00:06:57,600 Speaker 1: those savings, as I said, are illusory because they're funneled 139 00:06:57,640 --> 00:07:01,160 Speaker 1: straight back into your and other taxpayers. The premiums and 140 00:07:01,200 --> 00:07:04,160 Speaker 1: the tax bills. This is what I call the seductive 141 00:07:04,240 --> 00:07:07,400 Speaker 1: sleight of hand that the health insurance system does. It's 142 00:07:07,400 --> 00:07:10,240 Speaker 1: a machine that inflates your costs. It lines the pockets 143 00:07:10,240 --> 00:07:13,000 Speaker 1: of the insurance companies. As I said, it propels us 144 00:07:13,000 --> 00:07:17,120 Speaker 1: toward this complete fiscal run that we're doing because of Obamacare. 145 00:07:18,000 --> 00:07:19,600 Speaker 1: And that's why nobody wants to touch it over the 146 00:07:19,640 --> 00:07:21,680 Speaker 1: past fifteen years, because they can't forget what to do 147 00:07:21,760 --> 00:07:23,920 Speaker 1: with it. Let me just give you a little top 148 00:07:24,000 --> 00:07:28,080 Speaker 1: line idea. What if instead of giving that twenty thousand 149 00:07:28,160 --> 00:07:33,280 Speaker 1: dollars to the insurance companies, it was put into a 150 00:07:33,400 --> 00:07:36,200 Speaker 1: pseudo whatever you want to call it, health savings account 151 00:07:37,240 --> 00:07:39,720 Speaker 1: I know, not technically not a health savings account, but 152 00:07:39,800 --> 00:07:43,520 Speaker 1: something like a health savings account for you, so that 153 00:07:43,600 --> 00:07:47,760 Speaker 1: you could use it for FSA or HSA approved expenditures, 154 00:07:48,000 --> 00:07:50,480 Speaker 1: or you could use it to pay towards your deductible. 155 00:07:50,800 --> 00:07:54,080 Speaker 1: So that means that the full twenty thousand dollars would 156 00:07:54,080 --> 00:07:57,240 Speaker 1: actually go to healthcare costs and wouldn't go to part 157 00:07:57,280 --> 00:07:57,560 Speaker 1: of the. 158 00:07:57,560 --> 00:08:00,520 Speaker 3: Cost involved in running the insurance company. 159 00:08:01,840 --> 00:08:07,800 Speaker 1: Now, national health expenditures in this country are around for 160 00:08:07,840 --> 00:08:10,400 Speaker 1: the last number I found was about four point eight 161 00:08:10,400 --> 00:08:15,200 Speaker 1: trillion dollars almost five trillion dollars for calendar year twenty 162 00:08:15,280 --> 00:08:20,600 Speaker 1: twenty three. That is about twenty percent of GDP if 163 00:08:20,600 --> 00:08:23,720 Speaker 1: it keeps growing by twenty thirty, If we don't do something, 164 00:08:24,160 --> 00:08:27,440 Speaker 1: so twenty percent of the entire gross domestic product of 165 00:08:27,480 --> 00:08:30,520 Speaker 1: this country will go toward healthcare. If we don't do 166 00:08:30,560 --> 00:08:35,760 Speaker 1: something about this way of doing business, the villain. The 167 00:08:35,840 --> 00:08:40,360 Speaker 1: villain is this intricate web of insurers, the providers, and 168 00:08:40,440 --> 00:08:43,199 Speaker 1: quite frankly, the politicians to profit from all the chaos. 169 00:08:43,640 --> 00:08:46,680 Speaker 1: And this is not anything new. Think about before the 170 00:08:46,720 --> 00:08:50,840 Speaker 1: nineteen sixties. Go prior to nineteen sixties. That's when employers 171 00:08:50,880 --> 00:08:55,960 Speaker 1: sponsored insurance exploded, alongside Medicare and medicaid. Medical care was 172 00:08:56,040 --> 00:09:00,600 Speaker 1: a straight forward transaction. What do I mean by straightforward transaction? 173 00:09:02,240 --> 00:09:05,120 Speaker 1: You knew when you went to see your doctor what 174 00:09:05,200 --> 00:09:06,679 Speaker 1: it was going to cost. You, you knew what the 175 00:09:06,720 --> 00:09:09,040 Speaker 1: office as it was going to be, and then you 176 00:09:09,040 --> 00:09:11,960 Speaker 1: could ask the doctor, oh, you want to do this procedure, 177 00:09:12,040 --> 00:09:14,880 Speaker 1: what does that cost? It's going to be five hundred dollars. Okay, 178 00:09:14,920 --> 00:09:18,200 Speaker 1: well let me shop that around so you might go 179 00:09:18,240 --> 00:09:20,240 Speaker 1: to another doctor in town. He does it for four 180 00:09:20,320 --> 00:09:21,680 Speaker 1: hundred dollars, but. 181 00:09:22,040 --> 00:09:22,760 Speaker 3: That went away. 182 00:09:23,200 --> 00:09:26,120 Speaker 1: But go back to say nineteen fifty five, a year 183 00:09:26,160 --> 00:09:28,800 Speaker 1: that maybe some of you were born. A hospital bill 184 00:09:29,240 --> 00:09:33,000 Speaker 1: for a three night stay to deliver a baby in Kansas, 185 00:09:33,040 --> 00:09:37,640 Speaker 1: to just take or an average hospital in Kansas totaled 186 00:09:37,640 --> 00:09:42,480 Speaker 1: sixty dollars sixty six zero dollars that included the drugs, 187 00:09:42,520 --> 00:09:45,640 Speaker 1: the meals, the lab work. That's about six hundred dollars 188 00:09:45,720 --> 00:09:51,480 Speaker 1: today after inflation, after adjustments for inflation. However, fast forward 189 00:09:51,559 --> 00:09:57,760 Speaker 1: to last year, the average uncomplicated vaginal delivery costs more 190 00:09:57,800 --> 00:10:02,360 Speaker 1: than eighteen thousand dollars. C section pushes it past twenty 191 00:10:02,440 --> 00:10:05,800 Speaker 1: six thousand dollars. That's all according to Forbes. That is 192 00:10:05,840 --> 00:10:10,520 Speaker 1: a three thousand percent increase and that obviously far outstrips 193 00:10:10,520 --> 00:10:13,800 Speaker 1: inflation or wage You growth, well, why is that happening? 194 00:10:14,400 --> 00:10:14,720 Speaker 3: Why? 195 00:10:15,640 --> 00:10:18,400 Speaker 1: Nobody ever asked the why? And then when you find 196 00:10:18,400 --> 00:10:21,720 Speaker 1: out the why, the problem is the political leadership inside 197 00:10:21,760 --> 00:10:24,600 Speaker 1: the beltwait doesn't want to do anything about it because 198 00:10:25,240 --> 00:10:29,839 Speaker 1: and heads will explode when I say this, but it's 199 00:10:29,880 --> 00:10:34,240 Speaker 1: the truth. It's because have you ever asked yourself why 200 00:10:34,280 --> 00:10:37,400 Speaker 1: do we end up with Obamacare? Have you ever asked 201 00:10:37,440 --> 00:10:40,000 Speaker 1: yourself why? Because not one single Republican voted for it, 202 00:10:40,240 --> 00:10:44,479 Speaker 1: not one. It was purely a Democrat transaction, a Democrat 203 00:10:44,520 --> 00:10:48,439 Speaker 1: bill that was pushed through solely with Democrat votes. Now, 204 00:10:48,480 --> 00:10:50,000 Speaker 1: they could have worked on it. They could have worked 205 00:10:50,040 --> 00:10:53,240 Speaker 1: on immigration, they could have worked on inflation, they could 206 00:10:53,240 --> 00:10:55,800 Speaker 1: have worked on foreign affairs, they could have worked on anything. 207 00:10:56,000 --> 00:11:01,319 Speaker 1: But they chose to work on this. Know why, because 208 00:11:01,360 --> 00:11:04,840 Speaker 1: they knew once they got this program started it would 209 00:11:04,880 --> 00:11:08,760 Speaker 1: never go away. Now it can go away, but they're 210 00:11:08,800 --> 00:11:12,080 Speaker 1: relying on everybody just sitting back on their laurels and 211 00:11:12,120 --> 00:11:14,800 Speaker 1: nobody wanting to do anything to upset the Apple card 212 00:11:15,240 --> 00:11:19,200 Speaker 1: because they've completely destroyed I shouldn't say completely, but they 213 00:11:19,240 --> 00:11:23,800 Speaker 1: have destroyed an awful lot of the private insurance market. 214 00:11:25,559 --> 00:11:29,280 Speaker 1: Insurance severed the direct go back to nineteen fifty five, 215 00:11:30,120 --> 00:11:32,120 Speaker 1: when you went directly to the hospital, you went directly 216 00:11:32,200 --> 00:11:34,120 Speaker 1: to the doctor, or you went to the hospital and 217 00:11:34,160 --> 00:11:36,439 Speaker 1: you paid that five hundred dollars or sixty dollars in 218 00:11:36,520 --> 00:11:41,679 Speaker 1: nineteen fifty five for a delivery of a baby. Insurance, 219 00:11:42,440 --> 00:11:46,640 Speaker 1: when we started doing employer based insurance, that severed the 220 00:11:46,679 --> 00:11:50,840 Speaker 1: direct link between you as a patient and your doctor, 221 00:11:51,720 --> 00:11:54,880 Speaker 1: and that unleashed a pricing free for all where so 222 00:11:54,960 --> 00:11:58,400 Speaker 1: called list prices, they'll start to balloon because third party payers, 223 00:11:58,440 --> 00:12:01,199 Speaker 1: the insurance and the government program they foot the bill. 224 00:12:01,880 --> 00:12:06,200 Speaker 1: And truthfully, it's not even that the insurance and the 225 00:12:06,240 --> 00:12:09,280 Speaker 1: government programs foot the bill. I don't really have that 226 00:12:09,360 --> 00:12:12,439 Speaker 1: worded right. It's actually that we're all fitting the bill. 227 00:12:12,720 --> 00:12:16,360 Speaker 1: Because if it's a quote government program, that means it's 228 00:12:16,360 --> 00:12:18,240 Speaker 1: being paid for by taxpayer dollars. 229 00:12:18,520 --> 00:12:20,199 Speaker 3: And that's what's happening now. 230 00:12:20,679 --> 00:12:25,000 Speaker 1: So enter the Obamacare, the Affordable Care Act twenty ten, 231 00:12:25,360 --> 00:12:31,600 Speaker 1: fifteen years of this abomination. Now remember historically we forget, 232 00:12:31,960 --> 00:12:35,120 Speaker 1: but it was sold as an antidote skyrocketing uninsured rates, 233 00:12:35,360 --> 00:12:38,959 Speaker 1: and Obama promised that requiring insurance for everybody. Remember the 234 00:12:39,000 --> 00:12:40,880 Speaker 1: big debate about oh my gosh, this is the first 235 00:12:40,880 --> 00:12:43,679 Speaker 1: time that the government has required us to go purchase 236 00:12:43,720 --> 00:12:50,679 Speaker 1: a private product. Yes, purchasing a private product, something that 237 00:12:50,800 --> 00:12:54,360 Speaker 1: was purely personal that you could choose not to purchase 238 00:12:54,400 --> 00:12:56,600 Speaker 1: if you didn't want to. So you can't make a 239 00:12:56,640 --> 00:13:00,280 Speaker 1: comparison to say, a license plate for your car, because 240 00:13:00,280 --> 00:13:02,679 Speaker 1: you're required to do that because you're operating your car 241 00:13:02,720 --> 00:13:08,120 Speaker 1: on a public roadway. So it does not it does 242 00:13:08,360 --> 00:13:15,920 Speaker 1: not reduce costs. We're all footing the bill. When Obama 243 00:13:15,960 --> 00:13:19,880 Speaker 1: promised that requiring insurance for all would lower costs for 244 00:13:19,920 --> 00:13:23,720 Speaker 1: all Americans by capping family premiums at eight to eleven 245 00:13:23,720 --> 00:13:26,440 Speaker 1: percent of income, and that somehow that would bend the 246 00:13:26,520 --> 00:13:33,600 Speaker 1: cost curve downward, it charged it, turbocharged the inferno. Before 247 00:13:33,640 --> 00:13:38,920 Speaker 1: Obamacare individual market premiums they averaged two hundred and forty 248 00:13:38,920 --> 00:13:42,240 Speaker 1: four dollars a monthly in twenty thirteen. Six years later, 249 00:13:42,280 --> 00:13:44,839 Speaker 1: they doubled five hundred and fifty eight that's one hundred 250 00:13:44,840 --> 00:13:48,160 Speaker 1: and thirty percent surge according to the Heritage Foundation. So 251 00:13:48,320 --> 00:13:52,040 Speaker 1: overall health spending growth continued to climb. Per person cost 252 00:13:52,080 --> 00:13:55,600 Speaker 1: balloon from little over elevenenty twenty ten to over fourteen 253 00:13:56,120 --> 00:13:56,960 Speaker 1: twenty twenty three. 254 00:13:57,280 --> 00:13:59,360 Speaker 3: And that's actually in twenty twenty three dollars. 255 00:13:59,600 --> 00:14:03,040 Speaker 1: So allays jump well almost eight percent between twenty two 256 00:14:03,160 --> 00:14:06,320 Speaker 1: and twenty twenty three, hitting that four point eight trillion, 257 00:14:06,360 --> 00:14:08,920 Speaker 1: almost five trillion dollars that I told you about at 258 00:14:08,920 --> 00:14:12,240 Speaker 1: the beginning of the segment. And now with enhanced government 259 00:14:12,280 --> 00:14:17,040 Speaker 1: Obamacare subsidies expiring at the year's end, premiums could spite 260 00:14:17,160 --> 00:14:21,960 Speaker 1: seventy five percent nationwide next year. According to the Peterson 261 00:14:22,000 --> 00:14:26,560 Speaker 1: Kff analysis, that would undo even the illusion of affordability. 262 00:14:27,400 --> 00:14:31,840 Speaker 1: So what's the fatal flaw. What's the fatal flaw of Obamacare? 263 00:14:33,080 --> 00:14:36,640 Speaker 1: It doubled down on the falsehood. It doubled down on 264 00:14:36,720 --> 00:14:42,160 Speaker 1: the myth that more insurance equals lower costs. In reality, 265 00:14:42,720 --> 00:14:47,520 Speaker 1: it guaranteed demand because when you mandate coverage for twenty 266 00:14:47,600 --> 00:14:52,160 Speaker 1: million more people and you insulate the providers from market discipline, 267 00:14:52,720 --> 00:14:57,640 Speaker 1: that guarantees the demand and inflates the demand. And in 268 00:14:57,640 --> 00:15:00,560 Speaker 1: other words, it guaranteed the companies could overcharge knowing that 269 00:15:00,880 --> 00:15:03,360 Speaker 1: the insurance is going to pay for it. If you 270 00:15:03,400 --> 00:15:06,000 Speaker 1: happen to be on Medicare right now and you get 271 00:15:06,040 --> 00:15:09,160 Speaker 1: one of those explanation of benefits from Medicare, you get 272 00:15:09,160 --> 00:15:11,480 Speaker 1: to get electronically, or you get a paper copy in 273 00:15:11,520 --> 00:15:13,560 Speaker 1: the mail, you look at it sometime and you see 274 00:15:13,560 --> 00:15:16,680 Speaker 1: what the You see what the provider charge. You might say, 275 00:15:17,280 --> 00:15:20,840 Speaker 1: I could look at my retina doctor and let's just 276 00:15:21,120 --> 00:15:23,160 Speaker 1: I'll just pick some numbers out of my butt. So 277 00:15:23,480 --> 00:15:29,040 Speaker 1: the retina doctor charges five hundred dollars, Medicare might pay 278 00:15:29,360 --> 00:15:33,160 Speaker 1: sixty dollars, and then my supplement might pay an additional 279 00:15:33,200 --> 00:15:36,400 Speaker 1: forty dollars, So the doctor gets paid one hundred dollars. 280 00:15:36,680 --> 00:15:40,120 Speaker 1: He's required to do that. How do I not know 281 00:15:40,160 --> 00:15:41,880 Speaker 1: because you would look at that and say, wait a minute, 282 00:15:42,000 --> 00:15:45,400 Speaker 1: he charged five hundred dollars, but then they got reimbursed 283 00:15:45,400 --> 00:15:49,520 Speaker 1: one hundred dollars. How do you stay in business because 284 00:15:49,560 --> 00:15:53,680 Speaker 1: the five hundred dollars figure is inflated. The five hundred 285 00:15:53,680 --> 00:15:56,680 Speaker 1: dollars figure is higher than what he would normally charge 286 00:15:56,680 --> 00:16:01,200 Speaker 1: a patient coming in either paying privately or pay with cash. 287 00:16:01,360 --> 00:16:04,800 Speaker 1: That's the inflation because insurance is going to pay, so 288 00:16:04,920 --> 00:16:08,840 Speaker 1: they just jack up the prices. It's we're broadcasting live 289 00:16:08,920 --> 00:16:13,520 Speaker 1: from Colorado and Yale Boulevard. It's the annual KOA Food drive. 290 00:16:14,280 --> 00:16:17,840 Speaker 1: Drop by. I'm sitting here right out front. You can 291 00:16:17,880 --> 00:16:20,840 Speaker 1: make some donations and cash. You can give some can goods, 292 00:16:20,840 --> 00:16:24,240 Speaker 1: peanut butter, whatever it is. But stop by, say hello. 293 00:16:24,600 --> 00:16:27,760 Speaker 1: We'll be here until nine o'clock tonight. Well I won't be, 294 00:16:28,160 --> 00:16:30,040 Speaker 1: but the team will be here until nine o'clock tonight. 295 00:16:30,160 --> 00:16:32,960 Speaker 1: Be right back. Hey, let's go to Gary over the 296 00:16:32,960 --> 00:16:35,080 Speaker 1: retirement planning set of the Rockies. You have a simple 297 00:16:35,160 --> 00:16:37,160 Speaker 1: question for you. What are some of the reasons that 298 00:16:37,200 --> 00:16:39,680 Speaker 1: people end up coming to the retirement planning set of 299 00:16:39,680 --> 00:16:42,880 Speaker 1: the Rockies when they've after they've gone to say other 300 00:16:42,960 --> 00:16:44,200 Speaker 1: financial planners. 301 00:16:44,880 --> 00:16:46,600 Speaker 2: Well, that's a great question, Michael. 302 00:16:47,400 --> 00:16:49,640 Speaker 4: Let me share a true story if I can. That's 303 00:16:49,680 --> 00:16:51,120 Speaker 4: happened just this last year. 304 00:16:51,960 --> 00:16:54,600 Speaker 2: We had a client who came to us about eight 305 00:16:54,640 --> 00:16:57,480 Speaker 2: months ago from an event we held, and they had 306 00:16:57,520 --> 00:17:01,320 Speaker 2: another advisor they had been with for many back and 307 00:17:01,720 --> 00:17:05,520 Speaker 2: thought they were pretty happy. They did sense however, he 308 00:17:05,600 --> 00:17:08,399 Speaker 2: didn't want him to really spend and enjoy their money, 309 00:17:08,480 --> 00:17:13,240 Speaker 2: and that concerned them. They had two major concerns. 310 00:17:13,680 --> 00:17:14,240 Speaker 3: They wanted to. 311 00:17:14,160 --> 00:17:16,040 Speaker 2: Buy a new home, a second home. 312 00:17:15,840 --> 00:17:18,560 Speaker 4: If you will, and they wanted to be able to leave. 313 00:17:18,440 --> 00:17:22,800 Speaker 2: A substantial inheritance to their four kids, their grandkids, I'm sorry. 314 00:17:23,600 --> 00:17:25,200 Speaker 3: So they went to our. 315 00:17:25,320 --> 00:17:29,159 Speaker 2: Comprehensive Summit retirement guide process and we discussed that in 316 00:17:29,240 --> 00:17:33,880 Speaker 2: great detail. Long story short. When all was said and done, 317 00:17:33,960 --> 00:17:36,480 Speaker 2: they had plenty of money to accomplish the things they 318 00:17:36,520 --> 00:17:39,920 Speaker 2: wanted to do. In fact, we were able to help 319 00:17:40,000 --> 00:17:42,680 Speaker 2: them buy a new home, which say as a second home, 320 00:17:42,720 --> 00:17:45,399 Speaker 2: which they now live in, and we showed them how 321 00:17:45,440 --> 00:17:48,560 Speaker 2: to leave a substantial amount of money a million dollars. 322 00:17:48,240 --> 00:17:50,600 Speaker 4: To each of their four grandkids and do it in 323 00:17:50,640 --> 00:17:51,680 Speaker 4: a way where it will not. 324 00:17:51,800 --> 00:17:54,040 Speaker 2: Hamper their retirement plans moving forward. 325 00:17:54,520 --> 00:17:55,919 Speaker 3: And by the way, we did all. 326 00:17:55,800 --> 00:18:00,679 Speaker 4: That the money to the grandkids in fact in a 327 00:18:00,760 --> 00:18:03,159 Speaker 4: tax free way and it won't be included in their 328 00:18:03,280 --> 00:18:06,960 Speaker 4: state at the time of their passing. So it's a 329 00:18:07,000 --> 00:18:10,120 Speaker 4: wonderful thing to just have this opportunity to help people. 330 00:18:11,320 --> 00:18:13,000 Speaker 2: Dig in research and see how they. 331 00:18:12,880 --> 00:18:14,800 Speaker 4: Can do things that they didn't think they can do. 332 00:18:14,840 --> 00:18:16,600 Speaker 2: And these people are just happy as can be. 333 00:18:17,880 --> 00:18:20,720 Speaker 1: And that is exactly why I'd recommend my listeners get 334 00:18:20,760 --> 00:18:21,600 Speaker 1: in touch with you guys. 335 00:18:21,640 --> 00:18:22,439 Speaker 3: It's really easy to do. 336 00:18:22,640 --> 00:18:24,720 Speaker 1: Like you just pick up the phone, call the Retirement 337 00:18:24,760 --> 00:18:26,679 Speaker 1: Planning cent of the Rockies, make sure you like them 338 00:18:26,720 --> 00:18:28,679 Speaker 1: as much as I do, and then if you do, 339 00:18:28,720 --> 00:18:31,879 Speaker 1: they'll take you through their trademark Summit Retirement Guide process. 340 00:18:32,080 --> 00:18:34,280 Speaker 1: So call the Retirement Planning Set of the Rockies today 341 00:18:34,359 --> 00:18:37,600 Speaker 1: nine seven zero six sixty three thirty two eleven. That's 342 00:18:37,880 --> 00:18:40,879 Speaker 1: nine seven zero six six three thirty two eleven, or 343 00:18:40,920 --> 00:18:43,880 Speaker 1: go to their website rpcenter dot com. 344 00:18:43,960 --> 00:18:45,719 Speaker 3: Well, here we are. It's nine o'clock. 345 00:18:45,840 --> 00:18:47,879 Speaker 2: My earballs are all a Twitter for The Dragon and 346 00:18:47,960 --> 00:18:48,800 Speaker 2: Michael Brown Show. 347 00:18:48,880 --> 00:18:51,080 Speaker 3: Whereas it for Michael Brown and Dragon Show. I can 348 00:18:51,240 --> 00:18:51,960 Speaker 3: never remember. 349 00:18:52,920 --> 00:18:55,800 Speaker 2: By the way, if your earballs need surgery, do you 350 00:18:55,840 --> 00:18:58,919 Speaker 2: go see an Aaron Osen throat specialist or are urologist 351 00:18:59,359 --> 00:18:59,920 Speaker 2: just curious? 352 00:19:00,320 --> 00:19:01,840 Speaker 3: Have a good day. 353 00:19:02,440 --> 00:19:04,720 Speaker 1: And the answer to that is yes, you can go 354 00:19:04,760 --> 00:19:07,480 Speaker 1: to either one, because well, doesn't really make you a 355 00:19:07,480 --> 00:19:10,040 Speaker 1: difference whether it's sure your balls or otherwise, So you 356 00:19:10,080 --> 00:19:11,000 Speaker 1: just go to either place. 357 00:19:11,040 --> 00:19:12,040 Speaker 3: Doesn't make any difference. 358 00:19:12,320 --> 00:19:14,560 Speaker 1: And in fact, that's a pretty good question, because the 359 00:19:14,640 --> 00:19:16,359 Speaker 1: better question would be is whether or not it's going 360 00:19:16,440 --> 00:19:18,760 Speaker 1: to be covered by your Obamacare plan, Whether it's not 361 00:19:18,800 --> 00:19:20,320 Speaker 1: it's going to be covered by your insurance, and how 362 00:19:20,400 --> 00:19:22,440 Speaker 1: much is it going to cost you through your insurance 363 00:19:22,520 --> 00:19:24,720 Speaker 1: versus if you just paid it out of pocket. That's 364 00:19:24,760 --> 00:19:28,959 Speaker 1: the real question. So the Obamacare fatal flaw is this. 365 00:19:29,480 --> 00:19:34,080 Speaker 1: It doubled down on this falsehood, an absolute falsehood that 366 00:19:34,320 --> 00:19:39,160 Speaker 1: more equals lower costs. In reality, what it did if 367 00:19:39,200 --> 00:19:44,399 Speaker 1: you again supply and demand, it guaranteed demand by mandating 368 00:19:44,440 --> 00:19:47,679 Speaker 1: coverage for twenty million more people, and then it insulated 369 00:19:47,720 --> 00:19:49,640 Speaker 1: the people that provided the insurance. 370 00:19:49,240 --> 00:19:51,320 Speaker 3: Of those million people. 371 00:19:51,680 --> 00:19:56,400 Speaker 1: It insulated those insurers from market discipline, so it guaranteed 372 00:19:56,440 --> 00:19:59,400 Speaker 1: that the companies could overcharge because they knew that, Well, hey, 373 00:19:59,400 --> 00:20:02,080 Speaker 1: the insurance is go to pay, so I can charge 374 00:20:02,119 --> 00:20:04,560 Speaker 1: whatever I want to charge. Now, if you're on Medicare 375 00:20:04,560 --> 00:20:07,639 Speaker 1: of Medicaid, it might be subjected to some limitations, but 376 00:20:07,680 --> 00:20:10,440 Speaker 1: otherwise it's just gonna be whatever your policy pays. So 377 00:20:10,760 --> 00:20:12,920 Speaker 1: they have figured out, Hey, we know we're gonna get 378 00:20:13,480 --> 00:20:15,960 Speaker 1: amount of money, so we can charge X amount of 379 00:20:16,000 --> 00:20:19,440 Speaker 1: money regardless what the market might demand for that particular 380 00:20:19,760 --> 00:20:25,040 Speaker 1: procedure that you want to get done. This drives me crazy. Now, 381 00:20:25,119 --> 00:20:29,000 Speaker 1: think about Medicare and Medicaid. Medicare and Medica cover about 382 00:20:29,040 --> 00:20:32,879 Speaker 1: forty percent of Americans. Such rates for they for what 383 00:20:32,920 --> 00:20:36,840 Speaker 1: they'll pay. They're influenced by the medical industry, lobbyists and 384 00:20:36,880 --> 00:20:41,080 Speaker 1: the donors. Then private insurers use those same rates to 385 00:20:41,119 --> 00:20:44,600 Speaker 1: set their own reimbursements, and that creates a feedback loop 386 00:20:44,640 --> 00:20:48,719 Speaker 1: of price gouging. Politicians in greenlight those rates belied by 387 00:20:48,720 --> 00:20:52,960 Speaker 1: the industry cash pharma health product political action committees. They 388 00:20:53,000 --> 00:20:56,560 Speaker 1: funneled sixteen million dollars to federal candidates last year alone, 389 00:20:56,720 --> 00:21:00,199 Speaker 1: more than two thirds of congress seventy two senators three 390 00:21:00,280 --> 00:21:04,120 Speaker 1: hundred two House members getting checks in the prior cycle. 391 00:21:04,800 --> 00:21:10,480 Speaker 1: It's a mutual backscratching. The industry gets inflated reimbursements, lawmakers 392 00:21:10,520 --> 00:21:14,199 Speaker 1: get re election war chess. And don't think that I'm 393 00:21:14,280 --> 00:21:18,720 Speaker 1: just sitting here complaining about Democrats. The top recipients Marshall BlackBerry, 394 00:21:18,800 --> 00:21:22,680 Speaker 1: Republic from Tennessee. Three hundred and sixteen thousand dollars bill 395 00:21:22,800 --> 00:21:26,320 Speaker 1: cassidy from a Republican from Louisiana who happens to be 396 00:21:26,359 --> 00:21:29,280 Speaker 1: a doctor. Two hundred ninety thousand dollars from the Farmer 397 00:21:29,359 --> 00:21:33,800 Speaker 1: healthcare packs and employees back in from twenty twenty three 398 00:21:33,800 --> 00:21:39,280 Speaker 1: to twenty twenty four. Between nineteen ninety nine and twenty eighteen, 399 00:21:39,880 --> 00:21:45,640 Speaker 1: Farmer spent four point seven billion dollars lobby That's more 400 00:21:45,720 --> 00:21:50,720 Speaker 1: than any other labbying sector. And they spent four hundred 401 00:21:50,720 --> 00:21:53,400 Speaker 1: and fourteen million. In addition to the four point seven 402 00:21:53,440 --> 00:21:56,720 Speaker 1: billion on lobbying, they spent four hundred and fourteen million 403 00:21:56,800 --> 00:21:58,320 Speaker 1: dollars on federal campaigns. 404 00:21:59,560 --> 00:22:00,320 Speaker 3: Who's the mark? 405 00:22:01,600 --> 00:22:03,600 Speaker 1: If this is all a shell game, and this is 406 00:22:03,640 --> 00:22:05,320 Speaker 1: all fraud, then who's the mark? 407 00:22:06,080 --> 00:22:06,960 Speaker 3: You the patient? 408 00:22:07,800 --> 00:22:10,359 Speaker 1: Go back to that fifty thousand bill, fifty thousand dollars 409 00:22:10,400 --> 00:22:13,399 Speaker 1: hospital bill, but out of pocket only one hundred and 410 00:22:13,400 --> 00:22:17,320 Speaker 1: fifty dollars. You're still paying the full freight. You're still 411 00:22:17,359 --> 00:22:19,720 Speaker 1: paying the full freight through the premiums that average over 412 00:22:19,760 --> 00:22:23,520 Speaker 1: seven thousand dollars annually for family coverage in twenty twenty four, 413 00:22:23,840 --> 00:22:28,080 Speaker 1: and that is up twenty percent since twenty thirteen. And 414 00:22:28,119 --> 00:22:31,639 Speaker 1: then all the taxes you pay that fund Medicare, Medicaid's 415 00:22:31,720 --> 00:22:36,240 Speaker 1: one point five trillion dollar tab. This is an invisible 416 00:22:36,359 --> 00:22:41,040 Speaker 1: toll that makes healthcare the most our healthcare. While yes 417 00:22:41,080 --> 00:22:44,760 Speaker 1: it's the best, it doesn't have to be the most expensive. 418 00:22:45,720 --> 00:22:47,480 Speaker 3: Yet it is because the. 419 00:22:47,520 --> 00:22:52,040 Speaker 1: Insurers then negotiate these so called discounts that still exceed 420 00:22:52,080 --> 00:22:55,800 Speaker 1: fair market value, and the costs they just spill over 421 00:22:55,840 --> 00:23:00,560 Speaker 1: in cascade right down to you uninsured patients. Well, that 422 00:23:00,600 --> 00:23:04,600 Speaker 1: does negotiate cash prices that are fifty to seventy percent lower, 423 00:23:05,000 --> 00:23:08,480 Speaker 1: and that exposes the bracket. You should just try it sometime, 424 00:23:09,160 --> 00:23:11,159 Speaker 1: even though you know you're maybe you're not going to 425 00:23:11,200 --> 00:23:13,160 Speaker 1: do it. You should just go in and just ask 426 00:23:13,240 --> 00:23:15,879 Speaker 1: your doctor sometime. Hey, listen, you want to do an appen. 427 00:23:16,040 --> 00:23:18,920 Speaker 1: You know, maybe it's not an emergency, it's you need 428 00:23:18,960 --> 00:23:22,040 Speaker 1: to have You need to have a mole removed. Okay, 429 00:23:22,080 --> 00:23:25,120 Speaker 1: what would you charge the insurance coming for this doc? Okay, 430 00:23:25,359 --> 00:23:28,760 Speaker 1: so you'd charge one thousand dollars to do that? If 431 00:23:28,760 --> 00:23:30,680 Speaker 1: I paid cash to have by. 432 00:23:30,640 --> 00:23:33,239 Speaker 3: This mole removed, what would you charge for that? 433 00:23:33,560 --> 00:23:33,720 Speaker 2: Oh? 434 00:23:33,760 --> 00:23:38,040 Speaker 1: I charge you fifty dollars. That's where That is how 435 00:23:38,160 --> 00:23:43,440 Speaker 1: you expose the racket. Now, imagine a healthcare system without 436 00:23:43,640 --> 00:23:47,480 Speaker 1: this chill game going on. Step number one, no insurance 437 00:23:47,480 --> 00:23:51,120 Speaker 1: would mean that competition kicks in because patients would start 438 00:23:51,160 --> 00:23:53,840 Speaker 1: shopping around just like we do for cars, like people 439 00:23:53,840 --> 00:23:56,760 Speaker 1: coming into this king super spy groceries, because very few 440 00:23:56,800 --> 00:23:59,720 Speaker 1: people could afford the prices that the industry charges under 441 00:23:59,760 --> 00:24:03,360 Speaker 1: the car an insurance system. You look at your insurance, 442 00:24:03,680 --> 00:24:07,160 Speaker 1: you look at a bill that you get for a procedure, 443 00:24:07,800 --> 00:24:10,360 Speaker 1: and look at how much that is, and then imagine 444 00:24:10,400 --> 00:24:14,760 Speaker 1: trying to pay that amount without the insurance. Ninety percent 445 00:24:14,760 --> 00:24:17,919 Speaker 1: of the country you go bankrupt. So companies would simply 446 00:24:17,920 --> 00:24:19,840 Speaker 1: lose all their business if they don't structure in more 447 00:24:19,880 --> 00:24:23,280 Speaker 1: realistic and a fair pricing structure. But there is no 448 00:24:23,440 --> 00:24:26,280 Speaker 1: incentity for them to do that while this system remains 449 00:24:26,280 --> 00:24:30,520 Speaker 1: in place. That would be step number one, just no 450 00:24:30,640 --> 00:24:36,320 Speaker 1: more mandated insurance step two overpriced services. 451 00:24:36,520 --> 00:24:38,120 Speaker 3: I'll explain that next. 452 00:24:38,400 --> 00:24:44,680 Speaker 1: Good Morning, Michael and Dragon Epstein, Epstein, Epstein, Epstein, Epstein, Epstein, Epstein, Epstein. 453 00:24:45,520 --> 00:24:48,720 Speaker 2: Let the good control. Where shall we say, fly high 454 00:24:49,240 --> 00:24:49,920 Speaker 2: have a good day? 455 00:24:50,200 --> 00:24:54,280 Speaker 1: Yes, So, Shannon, do you hear what those nice goober 456 00:24:54,359 --> 00:24:54,960 Speaker 1: said about me? 457 00:24:55,800 --> 00:24:56,200 Speaker 3: Yeah? 458 00:24:56,560 --> 00:24:59,760 Speaker 1: And what they say that I'm their favorite talk show 459 00:24:59,760 --> 00:25:01,159 Speaker 1: hope fake news. 460 00:25:01,480 --> 00:25:04,639 Speaker 3: I heard them say they do exterior work in some 461 00:25:04,720 --> 00:25:09,240 Speaker 3: healthy GQ painting, right. Yeah. 462 00:25:09,520 --> 00:25:11,280 Speaker 1: They said he'd been doing it for forty years. But 463 00:25:11,320 --> 00:25:13,879 Speaker 1: he looks like he's twelve years old. So you know, 464 00:25:14,040 --> 00:25:17,320 Speaker 1: I don't know whether they're believing or not GQ painting. 465 00:25:17,640 --> 00:25:18,040 Speaker 3: So we are. 466 00:25:18,080 --> 00:25:20,800 Speaker 1: We're here at Colorado and Yale at Kiene Supers raising 467 00:25:20,840 --> 00:25:23,240 Speaker 1: money for the Food Bank of the of the Rockies. 468 00:25:23,400 --> 00:25:26,440 Speaker 1: Here's some ideas if you want to drop by. There's 469 00:25:26,480 --> 00:25:29,080 Speaker 1: a QR code here if you want to donate cash. 470 00:25:29,160 --> 00:25:32,000 Speaker 1: But we'll also take good things like peanut butter, pasta, tuna, 471 00:25:32,000 --> 00:25:35,880 Speaker 1: be stew, chili, baked beans, soup, canned fruit, canned vegetables, 472 00:25:35,960 --> 00:25:37,240 Speaker 1: jelly chess. 473 00:25:37,400 --> 00:25:40,280 Speaker 3: Don't do this because I know you guys. 474 00:25:40,560 --> 00:25:43,240 Speaker 1: Don't bring stuff that's out of date because you're trying 475 00:25:43,280 --> 00:25:46,679 Speaker 1: to clean out your pantry. Okay, don't do that. We 476 00:25:46,720 --> 00:25:50,840 Speaker 1: want to think you. We want to think Redbird Farms. 477 00:25:51,160 --> 00:25:54,200 Speaker 1: They've donated four thousand pounds of chicken breasts and Colorado 478 00:25:54,200 --> 00:25:57,160 Speaker 1: GMC dealers. Visit your local GMC dealer for the full 479 00:25:57,200 --> 00:25:59,760 Speaker 1: Sierra Family lineup and come out here and help the 480 00:25:59,800 --> 00:26:01,120 Speaker 1: food Bank of the Rockies. 481 00:26:01,359 --> 00:26:01,920 Speaker 3: So let's go back. 482 00:26:01,920 --> 00:26:03,600 Speaker 1: I want to finish up real quickly about this whole 483 00:26:03,600 --> 00:26:06,680 Speaker 1: thing on insurance, because this is not a pipe dream. 484 00:26:06,920 --> 00:26:08,720 Speaker 1: I think it's something that really could be, that can 485 00:26:08,800 --> 00:26:13,520 Speaker 1: really happen. First, no insurance, Just get rid of insurance. 486 00:26:13,600 --> 00:26:15,760 Speaker 1: Obviously you'd have to phase it in. But number two, 487 00:26:15,840 --> 00:26:20,600 Speaker 1: think about overpriced, overpriced services. So you get charged ten 488 00:26:20,640 --> 00:26:23,600 Speaker 1: grand for an MRI, that would push the patients to 489 00:26:23,960 --> 00:26:27,600 Speaker 1: cheaper alternatives. They would force the hospitals, the providers to 490 00:26:27,640 --> 00:26:30,520 Speaker 1: cut fat. It would allow other companies entry into that 491 00:26:30,600 --> 00:26:34,399 Speaker 1: marketplace where they wouldn't be overcharging prices, would start to drop. 492 00:26:34,800 --> 00:26:38,600 Speaker 1: Existing companies that are already providing MRIs could tram all 493 00:26:38,680 --> 00:26:41,760 Speaker 1: the administrative bloat. Do you know that almost a third 494 00:26:42,200 --> 00:26:47,639 Speaker 1: of our health care spending goes toward administrative costs? In 495 00:26:47,880 --> 00:26:51,480 Speaker 1: peer nations, so I'm not talking about Uganda or Zambia. 496 00:26:51,520 --> 00:26:54,879 Speaker 1: I'm talking about like you know, France, Germany, Australia or Japan. 497 00:26:55,240 --> 00:26:57,359 Speaker 1: You know what they spend on administrative costs for their 498 00:26:57,400 --> 00:27:00,920 Speaker 1: healthcare between twelve and sixteen percent, more than double that, 499 00:27:01,640 --> 00:27:04,760 Speaker 1: And so that would allow for the negotiation of real efficiencies, 500 00:27:05,080 --> 00:27:08,280 Speaker 1: and without the insurance bureaucracy, all the trappings and costs 501 00:27:08,280 --> 00:27:10,320 Speaker 1: of the red tape would be saved on both ends 502 00:27:10,359 --> 00:27:12,920 Speaker 1: of the transaction. And then the third thing that would 503 00:27:12,960 --> 00:27:16,160 Speaker 1: happen with that supply would need demand at some sort 504 00:27:16,200 --> 00:27:20,800 Speaker 1: of equilibrium. They would eventually get at equilibrium, prices would 505 00:27:20,800 --> 00:27:25,440 Speaker 1: plummet because there's no third party payer to absorb the excess. Now, 506 00:27:25,480 --> 00:27:27,199 Speaker 1: I know this sounds like a pipe dream, but it 507 00:27:27,240 --> 00:27:31,720 Speaker 1: doesn't have to be. It can be phased in over time. Now, 508 00:27:31,760 --> 00:27:33,840 Speaker 1: if you don't want to phase it in overtime, then 509 00:27:33,920 --> 00:27:38,520 Speaker 1: do this. Just get rid of Obamacare, because Obamacare is 510 00:27:38,560 --> 00:27:44,439 Speaker 1: the driver of everything else. No insurance. Go back to 511 00:27:44,480 --> 00:27:48,359 Speaker 1: the nineteen fifties world. Oh, Michael, that's impossible. You can't 512 00:27:48,359 --> 00:27:49,600 Speaker 1: do that really. 513 00:27:50,560 --> 00:27:50,840 Speaker 3: Now. 514 00:27:52,160 --> 00:27:55,440 Speaker 1: In nineteen fifties, would a full baby delivery cost you 515 00:27:55,520 --> 00:28:01,160 Speaker 1: sixty because patients paid out of pocket providers competed on value, 516 00:28:01,480 --> 00:28:07,439 Speaker 1: people competed on price. Columbia, of all places, has a 517 00:28:07,520 --> 00:28:11,800 Speaker 1: hybrid system. They have universal coverage via a regulated private insurance. 518 00:28:12,160 --> 00:28:15,280 Speaker 1: It ranks number twenty two globally by the World Health Organization, 519 00:28:15,640 --> 00:28:18,399 Speaker 1: which is better than US at number thirty seven, and 520 00:28:18,560 --> 00:28:22,520 Speaker 1: costs a fraction of what we're spending in Colombia and 521 00:28:22,760 --> 00:28:26,680 Speaker 1: MRI one hundred and eighty dollars. In the US between 522 00:28:26,680 --> 00:28:29,680 Speaker 1: one and three thousand dollars. Medicare pays about five hundred 523 00:28:29,680 --> 00:28:32,320 Speaker 1: dollars private up to about twenty five hundred dollars. 524 00:28:33,520 --> 00:28:34,960 Speaker 3: Controls another issue. 525 00:28:35,200 --> 00:28:40,239 Speaker 1: Universal insurance just entrenches that control the government in the 526 00:28:40,240 --> 00:28:45,600 Speaker 1: industry didn't collaborate, and they dictate approved treatments, sidelining innovations 527 00:28:45,600 --> 00:28:47,240 Speaker 1: that don't juice the profits. 528 00:28:48,120 --> 00:28:49,920 Speaker 3: It's got to change because if. 529 00:28:49,800 --> 00:28:53,320 Speaker 1: It doesn't change, we're going to price ourselves into oblivion. 530 00:28:54,040 --> 00:28:57,480 Speaker 1: So when you hear about the debate over the Obamacare subsidies, 531 00:28:58,160 --> 00:29:01,240 Speaker 1: think why don't you guys think outside of the ball. 532 00:29:01,280 --> 00:29:03,120 Speaker 1: I know it's difficult when you're getting you know, three 533 00:29:03,200 --> 00:29:05,640 Speaker 1: hundred thousand or two hundred and fifty thousand or whatever 534 00:29:05,680 --> 00:29:09,280 Speaker 1: from big farmer or the insurance companies. But until Congress 535 00:29:09,320 --> 00:29:12,480 Speaker 1: actually starts being honest with us, I'll just tell you 536 00:29:12,480 --> 00:29:16,360 Speaker 1: the truth. They're lying to Youbett Obamacare. It's that simple. 537 00:29:17,360 --> 00:29:17,960 Speaker 1: Be right back