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Well yes. In it's simplest form insurance works by spreading the risk across the largest participating population possible. If every car has insurance, the premiums paid by those not in collisions will sufficiently cover the losses caused by those who do. Same with healthcare. If everyone contributes, the premiums paid by the healthy cover the costs of the sick so the system doesn't bankrupt itself.
The entire actuarial industry exists around this premise.
If the goal of the market is to turn a profit, the premium increases need to be enough to cover costs plus profit, plus likely a "rainy day" portion in case of catastrophic loss when it comes to things like home insurance.
Same with healthcare. If everyone contributes, the premiums paid by the healthy cover the costs of the sick so the system doesn't bankrupt itself.
There is no natural basis for this. Risk sharing helps, but with seniors and/or those with pre-existing disease there may be a perpetual imbalance that only central supports can fill.
Not in the modern day of corporations and crony capitalism. They system is not perfect now... plenty of room for improvement. But when corporations become involved it is all about maximizing shareholder profits. It should be about the services provided to the client.
There is nothing "simple" about Medicare. I personally don't like it and would prefer to go back to my high deductible employer provided insurance with a Health Saving Account -- I would save a LOT of money as my "health costs" increased by a factor of +10 times with my being forced into Medicare.
I have no idea what a "private plan" would look like and neither does anyone else - impossible to make a choice when you have zero idea what the choice would look like.
There is no natural basis for this. Risk sharing helps, but with seniors and/or those with pre-existing disease there may be a perpetual imbalance that only central supports can fill.
Of course there is. A single payer system. Either that or direct contribution, but a single payer system would be much better.
There is nothing "simple" about Medicare. I personally don't like it and would prefer to go back to my high deductible employer provided insurance with a Health Saving Account -- I would save a LOT of money as my "health costs" increased by a factor of +10 times with my being forced into Medicare.
I have no idea what a "private plan" would look like and neither does anyone else - impossible to make a choice when you have zero idea what the choice would look like.
Why are you not still on your employers plan then?
Of course there is. A single payer system. Either that or direct contribution, but a single payer system would be much better.
OK if that is your goal. But total HC costs will have to go up. Which is OK by me.
And more central moneys will have to be created to meet all our HC needs. Also OK by me.
My point is that there is no natural dollar balance as say some other more typical supply/demand business.
OK if that is your goal. But total HC costs will have to go up. Which is OK by me.
And more central moneys will have to be created to meet all our HC needs. Also OK by me.
My point is that there is no natural dollar balance as say some other more typical supply/demand business.
100% agree. Which is all the more reason that it shouldn't be in the hands of a for profit enterprise. Healthcare is a money loser unless extortionate, and has been pointed out, one of the few industries where you eventually have a 100% failure rate.
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