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These points assume that costs would stay the same and there's no overhead in the existing insurance system. Single-payer could be cheaper and more efficient s
by ink_13 3y ago
These points assume that costs would stay the same and there's no overhead in the existing insurance system.
Single-payer could be cheaper and more efficient simply by returning the massive profits of health insurers directly to taxpayers. Part of high cost for healthcare in the USA is the huge number of middlemen.
- mike_hearn 3y agoDo they have massive profits? It says here that they have very low profit margins of about 3% https://content.naic.org/sites/default/files/inline-files/health-2022-mid-year-industry-report.pdf https://content.naic.org/sites/default/files/inline-files/he... Contrast that with the average of all industry profit margins at ~10% and with SaaS type firms of ~80%. If you want to improve US healthcare costs by getting rid of the profit margin of insurers, it's probably a bad idea. You wouldn't notice the impact.