The latest numbers in Wikipedia say that SNAP costs $70.9B and distributes an average of $125/month to 44.2M people.
That means the cost is $133 to distribute $125, or an overhead of $8 per person per month.
Still not great but not nearly as bad as I was expecting, to be honest.
The average health insurance deductible is $4,358 and the average premium is $321 per month.[3] That means that on average US citizens pay $321 per month for (5237-4358) / 12 = $73.25 of expected value. That's a 4X markup over the expected value of insurance.
Health insurance companies might be reporting single digit overheads but they are providing $1 of value for $4 and are inefficient.
[1] https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1361028/
[2] https://www.mrmoneymustache.com/2017/11/05/when-your-shitty-...
[3] https://www.cnbc.com/amp/2017/06/23/heres-how-much-the-avera...
Your calculation makes no sense. Healthcare insurance pays out for catastrophic events, hence the deductible, not evenly every year. You need to know the distribution of payouts to get a meaningful result.
I guess it's still a whole number factor sort of thing.
I also wonder if those numbers are accounting for Medicare and Medicaid (which add costs to the private insurance system).
>> To estimate lifetime health care costs, we employ a method based on a current life table, also known as a period life table model.
Thus, these costs are representative of recent costs.
In the next 80 years, both the expected value of insurance and the cost of insurance will change. Health insurance premiums are expected to increase by double-digits in 2019.
https://www.fool.com/investing/2018/05/26/whos-ready-for-a-1...
$100 billion / 12 months
= $8.3 billion per month
/ $100 per person per month
= 83 million people
so $100 billion per year could give 83 million people $100 per month.
100,000,000,000 / 12 = would feed one person for 8.3B years.
Or a billion people for 8.3 years.
You can see where this is going.
$100B should be able to feed one hundred million people for 83.3 years. Assuming $100 / month could feed a person.
You can buy a lot of lentils, rice, and potatoes with $100.
But you're saying food stamps costs $100B a year.
Where is all this money going?