What can we learn from health care reform and how can we apply these lessons to other real world issues?
First, Ive observed that we live in a world of uncertainty and misinformation. We often hear what people want us to hear to support their cause or opinion. Frequently, the information turns out to be misleading or just inaccurate.
As of writing this, we read that close to eight million people have enrolled in the exchanges, three to four million have enrolled on Medicaid and somewhere between three and four million children, under the age of 26, have been added to their parents group medical plan.
What we dont know, is how many of the new enrollees have actually paid their premiums, how many and what percentage have been younger applicants and what percentage of the new enrollees are not new, but were canceled by their existing insurance company or elected to give up their coverage for a new plan.
The efficacy of the Affordable Care Act legislation will not be known for years. The long-term impact on pricing, the quality of medical care and accessibility of medical care remains to be seen. This is an example of the need to process incomplete information, make assessments and be in a position to advise clients on their best course of action.
It is not uncommon to experience similar situations in our professional and personal lives. We dont always have the luxury of waiting until we have all the information before we act. Clients want to know what to do and how to proceed. Family and friends are looking for direction and input on personal issues.
One of the takeaways from the ACA situation is the realization that we need to process information, complete or incomplete, and utilize our wisdom, judgment and experience to provide guidance and counsel both in our professional and personal lives. Thats what we are trained to do. Being successful in life is to sort through the conflicting or incomplete information, develop a strategy and move forward. What have you learned from ACA?
Andy Torelli is an EBA Advisory Board member and president of e3financial in Newport Beach, Calif. He can be reached at email@example.com.
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