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Medicare , primarily single payer, overhead is 2% according to the link.
According to the link, Medicare's overhead is 2%. Nearly 2/3 of total new ACA overhead spending is attributed to private insurers.
Seems to make perhaps an unintentional case for single payer.
Except for the fact that medicare 2% overhead isnt all inclusive, they only count the medicare portion, not the overhead costs of care that they contract out to the private sector.
if I bring in $1,000,000 and then contract to you to do what I was contracted to do, paying you $998,000, my overhead costs is 2%, but this doesnt at all count what your overhead cost is..
The figures are a lie, and totally misrepresentation of reality. It also completely ignores the damage done to health coverage in the name of "cutting costs", since medicare rarely pays enough to cover procedures.
If single payer is so bad, why do countries that have it intend to keep it? What developed country is begging to have the insurance companies take over their healthcare?
No two countries do universal healthcare alike.
The Swiss rely on private insurance and subsidize about 40% of premiums. Insurers cannot discriminate for age or medical conditions. Everyone is required to have insurance and 99% of the Swiss people comply. Employers do not subsidize premiums.
Premiums are more affordable because the Swiss Government owns and operates most hospitals. They also negotiate the price of medications and mobility devices.
Except for the fact that medicare 2% overhead isnt all inclusive, they only count the medicare portion, not the overhead costs of care that they contract out to the private sector.
if I bring in $1,000,000 and then contract to you to do what I was contracted to do, paying you $998,000, my overhead costs is 2%, but this doesnt at all count what your overhead cost is..
The figures are a lie, and totally misrepresentation of reality. It also completely ignores the damage done to health coverage in the name of "cutting costs", since medicare rarely pays enough to cover procedures.
Thank you for the clarification.
By law, Medicare reimburses hospitals ( lion's share of expense) at actual cost of service, for a geographical area.
By law, Medicare reimburses hospitals ( lion's share of expense) at actual cost of service, for a geographical area.
But "lions share" of expenses, isnt all expenses, and thus multiply this by tens of millions of individuals, this means that Medicare is underpaying, plus a lack of profit, pushes this onto other segments of society, raising the costs for private insurance and those self insured.
medicare actually is part of the problem..
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