Labor's Pitch
Big bounce today for Labor.
Labor $1.40
Coalition $2.70
Labor's big move is to offer to pay for all hospital care for over 75's, and to index the pension 4 times a year instead of twice. This has to be a huge vote winner. The indexation won't make much difference, but it sounds good if you're an older plebian.
The free hospital care has huge ramifications. I can't even begin to get my head around them in a couple of minutes.
My first reaction is no-one over 75 will need private insurance.
My second reaction is, this means I don't have to take out private health insurance today, as most of a persons health bills are in the last 5 years of their life and the average life expectancy is around 80 for someone born today.
My third reaction is, this is the death of private health insurance.
My fourth reaction is, this will actually reduce the costs to private health insurance companies (previously they couldn't filter out clients by age, but now older people will do the filtering themselves).
My fifth reaction is, maybe it's not the death of private insurance, but it certainly is an unprecendented change in the way it works.
My sixth reaction is, who is going to pay for this? Well now you need make no provision for your health costs for 50 years (see baby boomers). Then fall back on the tax-payer to cover all your needs. I guess the younger generation are going to have to pay for the excesses of the older generation. This is age discrimination at its worst.
Being human I know I'm going to fall into this very same trap. My grandkids can work hard to provide for me in my old age. I no longer have to. Thanks in advance to the kids of the future.
Labor $1.40
Coalition $2.70
Labor's big move is to offer to pay for all hospital care for over 75's, and to index the pension 4 times a year instead of twice. This has to be a huge vote winner. The indexation won't make much difference, but it sounds good if you're an older plebian.
The free hospital care has huge ramifications. I can't even begin to get my head around them in a couple of minutes.
My first reaction is no-one over 75 will need private insurance.
My second reaction is, this means I don't have to take out private health insurance today, as most of a persons health bills are in the last 5 years of their life and the average life expectancy is around 80 for someone born today.
My third reaction is, this is the death of private health insurance.
My fourth reaction is, this will actually reduce the costs to private health insurance companies (previously they couldn't filter out clients by age, but now older people will do the filtering themselves).
My fifth reaction is, maybe it's not the death of private insurance, but it certainly is an unprecendented change in the way it works.
My sixth reaction is, who is going to pay for this? Well now you need make no provision for your health costs for 50 years (see baby boomers). Then fall back on the tax-payer to cover all your needs. I guess the younger generation are going to have to pay for the excesses of the older generation. This is age discrimination at its worst.
Being human I know I'm going to fall into this very same trap. My grandkids can work hard to provide for me in my old age. I no longer have to. Thanks in advance to the kids of the future.
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