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Healthcare is in exactly the same boat. A major part of why it's so expensive is because of government subsidies to private healthcare insurance. No or little
by cogman10 9mo ago
Healthcare is in exactly the same boat.
A major part of why it's so expensive is because of government subsidies to private healthcare insurance. No or little public option is exactly what allows insurance companies to go hog wild on their premiums.
The ACA subsidies are simply a bandaid on a broken system which allows insurance to further break the system as they adapt to what people are willing to pay for a necessity.
- lokar 9mo agoHealthcare is really complicated. No one factor makes up a majority of the excess (compared to other rich nations) cost. The ACA is a bandaid, and may be making things worse over time, at least in some areas. But Americans don't see to have the appetite to really change anything. Probably because most voters are insulated from this by good (enough) employees plans.
- epistasis 9mo agoA big part of that is also the transfers between private insurance and Medicare, with health care providers accepting far lower rates for Medicare and then subsidizing operations with the rates charged to private insurers. Hospital administration is pretty hellish. As is administering payments! Any functioning health care system is going to have a "band-aid" exactly ACA subsidies: make sure that those with the lowest incomes can still afford health care. Something in between Medicaid and the full cost. But as we rein in the costs and get healthcare to be a smaller fraction of GDP, the size of the band-aid can shrink.