Is there a “third way” for health care payments, one that relies neither on employers nor the Feds?
Contemplating GM’s arrangement with the UAW — in which GM will set up a VEBA (”Voluntary Employee Benefits Association”) — I think there might be.
This would be something similar to the classic model for a building society (aka “saving and loan”) or its Catholic, working class equivalent, the credit union. Individuals band together to endow a trust, from which funding for their health care is drawn.
Thoughts?
Now Playing: Episode 368
Terror in Mumbai, the collapse of Seattle banking and an update on the new Obama cabinet.
Links Mentioned: A timeline of the Mumbai carnage … SAM and WaMu … some early warning signs of trouble at the Seattle bank … Obama’s new Labor secretary?
I think David Brooks brought up something similar a few weeks ago:
http://select.nytimes.com/2007/09/07/opinion/07brooks.html
He was discussing a plan by Stuart Butler of the Heritage Foundation that leverages unions, church groups, and other community organizations to provide health care. Interesting idea.