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A comment on What is an appropriate level of Basic Income?. Parent comment

Re:What is an appropriate level of Basic Income? by sliverstorm on Friday May 09, 2014 @11:25PM (#7724372)
Can $12k/year actually replace medicare? Medicare is health insurance, so at the very least we would have to have a competitive market for self-health-insurance from which retirees could buy coverage, before Medicare could be scrapped.
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Re:What is an appropriate level of Basic Income? by sanxiyn on Saturday May 10, 2014 @12:30AM (#7724495)
As a citizen of South Korea, nationalized health insurance is no brainer at all, but it doesn't need to be as expensive as US.

South Korean National Health Insurance Service covers every citizen (not just for elderly, not just for poor) and is 1.5% of South Korean budget. Medicare is 15% of US budget. Medicare may provide better quality, but cost/benefit is unclear to me.

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