Thursday, July 19, 2007
Motown’s Medical Bill and BUPA
Keith Naughton, writing for Newsweek, has a great piece on the Detroit automobile industry's healthcare woes, with healthcare committments of upto $100 billion. Facing combined annual losses of $16 billion, the big three - GM, Ford and Chrysler - pay $35 per hour more than other auto manufacturers in Detroit, mainly because of employee health benefits.America’s ailing automakers are intent on finding an Rx for the industry’s health-care burden, which they say adds $1,500 to the cost of every car it builds. That’s more than the cost of steel ($600) in each model. Detroit’s $10 billion annual tab for health care goes a long way toward explaining why America’s automakers combined to lose more than $16 billion last year.
There's three solutions to this problem. Let Detroit drown in its healthcare debt. Leave the auto workers without healthcare. Or reduce the cost of healthcare.
In other news, I've been in touch with BUPA, an insurance company which provides international health coverage, mostly for expats and tourists. They're feeling a bit shy of openly saying that they provide insurance for medical tourism sorties, but here's the money quote:
"If a policy holder who has been with us for some time then develops a medical condition and wishes to go to a particular country to have treatment there that is fine and will generally be covered. "
HorizonHealthPlans.com is an appointed US representative of BUPA International, so if you want to find out more, you can contact them. If anyone has more information, please go ahead and post it in the comments, or send me a note.
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