Re:Hospitals lift curtain on prices, revealing giant swings ...
by topkai22 on Wednesday September 22, 2021 @06:52PM
(#28623082)
The NHS/UK isn't cheaper (just) because of insurance related dead weight though- they also just pay everyone less.
The US Government estiamtes the total adminstration and health insurance expenditure cost $288B in 2019. Total health consumption was $3.69T. Thats about 7.5% of total health spending. Even if you assume a 2 or 3x multiplier to the effect of eliminating insurance companies you STILL don't get US healthcare spending on a GDP basis in line with international norms.
Insurance companies are awful, but they alone are not the cause of American's health care spening problems.
The US Government estiamtes the total adminstration and health insurance expenditure cost $288B in 2019. Total health consumption was $3.69T. Thats about 7.5% of total health spending. Even if you assume a 2 or 3x multiplier to the effect of eliminating insurance companies you STILL don't get US healthcare spending on a GDP basis in line with international norms.
Insurance companies are awful, but they alone are not the cause of American's health care spening problems.