Why would a third of total healthcare spending just disappear simply because the government is paying the bill instead of insurance companies or private consumers?
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Don’t know about a third, but spending will go down just because the government will pay less than commercial insurance, just like Medicare does now.[/quote]
For major health insurance companies like United Health Group cost of services is 65%. Profit, administration, marketing, etc is 35%. UH is a fairly good company.
[quote=livinincali]
I’m not saying free market system don’t have their consequences. Every system has in consequences to various degrees. In very socialized system you wait a long time for elective procedures or you don’t get them at all. In other system you die if you can’t pay and charity refuses to save you. In our system everyone gets treated and almost everyone has access to the latest and best procedures but at a tremendous cost.
Our system’s biggest problem is it doesn’t allow for free market forces to force competition and drive down costs.[/quote]
I think the population of the country have been pretty clear about letting people die on hospital door steps. We just have a mental schism regarding paying for it.
My last trip to the ER pre-ACA had six people in the ER while I was there. It was pretty clear I was the only person with insurance coverage. A couple scans and couple hours and we shouldn’t be surprised the bill showed up north of $20,000…
Given our society’s view, IMHO, the solution is to provide basic health care via single payer like Medicare to all that coverage your basic health services, maintenance for illnesses and proven cost efficient services for things like cancer.
Elective insurance for things like proton therapy, ‘conceirge’ doctors, PPO like services, short wait times, etc.
