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Somewhere between 15-30% of health care spending in the US can be classified as "waste" or "administrative overhead" (values and descriptions vary by study). E

Somewhere between 15-30% of health care spending in the US can be classified as "waste" or "administrative overhead" (values and descriptions vary by study). Even if we cut that 15% waste in its entirety, that's moving us from 17.3% to 14.8%. Is that going to leave some administrative staff looking for jobs? Absolutely. But, I don't see that totally crashing the economy, not when that money is freed up for productive spending (more cars, more travel, more dining out, whatever).

deleted 2y ago
[deleted]
munk-a 2y ago
In the long term the market will absolutely adjust to more efficiently using that potential - but that's the long term. If America suddenly socialized health insurance millions of people[1] would be out of a job. The long term outlook of the economy would much better - but the short term would be extremely painful. 1. UHC appears to be about 440,000, CVS about 300,000, Elevance (aka Anthem) 104,900 - those are just a trio of the larger insurers out of hundreds.
- alistairSH 2y ago
  That's assuming every job at those companies is absolute waste/overhead. I'm not convinced that's true. If we kill private insurance and move to Medicaid-for-All (I'm not suggesting this is the right approach, just thinking aloud here), the size of the Medicaid bureaucracy would have to grow, offering some of those former UHC/CVS/Anthem employees an "easy" transition into similar work. Anyways, no change this big would ever be made overnight. So, phase in changes over 5-10 years. Problem "solved".
  - stackskipton 2y ago
    It's not solved. I know many on this website have probably changed technology they used and used to learning but that's not the case for vast majority of people. They just want a job, pushing the buttons/emails, collecting a paycheck and doing not work thing. As non FAANG person, the number of developers I've met who continue to greenfield in Java 8 and .Net Framework is mind blowing and any attempt to make them learn something new falls on deaf ears.

deleted 2y ago

[deleted]

munk-a 2y ago

In the long term the market will absolutely adjust to more efficiently using that potential - but that's the long term. If America suddenly socialized health insurance millions of people[1] would be out of a job. The long term outlook of the economy would much better - but the short term would be extremely painful. 1. UHC appears to be about 440,000, CVS about 300,000, Elevance (aka Anthem) 104,900 - those are just a trio of the larger insurers out of hundreds.

alistairSH 2y ago
That's assuming every job at those companies is absolute waste/overhead. I'm not convinced that's true. If we kill private insurance and move to Medicaid-for-All (I'm not suggesting this is the right approach, just thinking aloud here), the size of the Medicaid bureaucracy would have to grow, offering some of those former UHC/CVS/Anthem employees an "easy" transition into similar work. Anyways, no change this big would ever be made overnight. So, phase in changes over 5-10 years. Problem "solved".
- stackskipton 2y ago
  It's not solved. I know many on this website have probably changed technology they used and used to learning but that's not the case for vast majority of people. They just want a job, pushing the buttons/emails, collecting a paycheck and doing not work thing. As non FAANG person, the number of developers I've met who continue to greenfield in Java 8 and .Net Framework is mind blowing and any attempt to make them learn something new falls on deaf ears.