How about a GHMO non-profit corporation

I have been looking at all of the health issue concerns of the past few weeks being discussed here on ATS and in the general media and of course the MSM news channels.

One thing that I have long considered a good idea that would cost the tax payer very little would be the formation of a not for profit corporation that provided a Health Maintenance Organization for people as an option when they get a job.

The idea is you fill out your W-2 and simply check a box for GHMO and a small amount is deducted from your pay like your payroll tax and social security.

It would only require initial government start up funding and then would operate like any not for profit corporation. As an NPO it would also qualify as a tax deductible donation so paying your little GHMO fee comes out of the income tax you pay.

Unlike the Social security trust fund which is typically raided for money this would have funds to itself and the trustee of the corporation would be allowed to invest money in other for profit companies in order to obtain special advantages.

For instance the GHMO could invest in rural hospitals, drug companies, pharmacies, teaching universities, and other health related companies so that as a large share holder they would have the power to bring down cost by using this share holder leverage to make special sweet heart deals. This would allow them to control cost for medical care in several ways and also operate like for profit HMOs by signing up doctors with a focus on poor comunities and rural areas.

My question is what would be wrong with something like this? If it was watched over by the GAO to keep it honest it should provide a low cost option for those with no health care and at least they would have something.

It would be restrictive enough by its nature that people would still want the more high end health insurance products but good enough to fill the need gap that is currently present in the existing system.

Any thoughts?

Here is an article that included the idea of the GHMO that made me think "hey this is not a bad option".

Hospital Stocks Down on Rumored Medicare Cuts

Here is an excerpt from the article:

The GHMO would solve hospital companies’ problems with uncompensated care and the 6 million to 8 million uninsured American citizens who aren’t eligible for existing government programs and can’t afford to buy any kind of health insurance because they’re permanently unemployable and chronically ill. But it wouldn’t solve the hospitals’ problems with 12 to 15 million uninsured illegal immigrants because they still would have to give them care without getting paid.

Seems pretty reasonable to me compared to some huge government Medicare on steroids program so long as it is allowed to control its own fund.