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Its outrageous that on a per person basis the US spends double what UK or other developed nations. Despite this we still have 30 million uninsured americans. I know americans are afraid of socialism, but I'm looking for honest suggestions or are we doomed? https://www.healthsystemtracker.org/...-amount-health
You start by not mandating insurance policies cover everything under the sun. Insurance you can afford that is going to cover major things is better than not having insurance. We also need more competition across the board whether it's insurance, health care providers etc. Tort reform is also something that needs to be looked at. Last but not least we need to reduce administrative costs.
There is no magic bullet, there is lots of issues that need to be addressed.
You start by not mandating insurance policies cover everything under the sun. Insurance you can afford that is going to cover major things is better than not having insurance. We also need more competition across the board whether it's insurance, health care providers etc. Tort reform is also something that needs to be looked at. Last but not least we need to reduce administrative costs.
There is no magic bullet, there is lots of issues that need to be addressed.
If you look at the insurance policies prior to 2010 the highest prices were in states that mandated policies that covered a lot, lower priced policies were available in other states. While states that had substantial mandates prior to 2010 may not have seen rates rise much those in other states have seen substantial increases.
The bottom line is this, the more that the insurance policy is required to cover the more it will cost.
The answer was given by Milton Friedman many years ago. Repeal the Kefauver Amendment and eliminate licensing requirements for medical professionals.
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