For one thing, Medicare is a lot more efficient than private health insurance. The Kaiser Family Foundation notes that, on average, paperwork and administrative costs amout to 17 percent of that total costs of private health insurance. Administrative costs in medicare are around two percent. The center for Medicare and Medicaid services notes that expenditures for medicare rose around four per cent a year from 1997 through 2009. For private insurance, it was six-and-a-half percent a year. And Medicare, because it buys in bulk, can negotiatwe down the costs of medical services. Private insurer's can't.
Medicare for everybody would get private insurance companies mostly out of the health insurance business. They could write deluxe health plans to cover things not paid for by Medicare, like cosmetic surgery. They would still write homeowners and auto and life insurance policies. This is pretty much the same health program they have now in South Korea, Canada, the United Kingdom and other countries. Medicare is a solid, straightforward plan that the government has been running, and running quite well, for 48 years.
The current attempt to create something entirely new, Obamacare, has created confusion and disruption. We can fix that by simply eliminating the words, over age 65, from the Medicare law.
I'm Charles Jaco and that's Jacology