From here: Death and Tax Cuts The problem with ObamaCare is its very nature. That is, Obama was obliged to keep the coverage in the hands of BigInsurance. HealthCare in America is the most expensive per capita of any developed nation on earth. See here: Life expectancy and total HealthCare spending (OECD countries) What's happening? The fee structure of US Health Care is enormously costly, and BigInsurance simply adds its profit on top. Which is why it is about twice as expensive as anywhere in Europe that have National Healthcare Systems that set the cost-tariffs countrywide of all HC professional acts and pharmaceuticals. So who pays? Mr and Mrs America every time they go shopping because companies recuperate the cost of the insurance in the price of the products/services they sell ...
I hope someone realizes that the healthcare insurance industry has one of the lowest profit margins. Government taking it over will increase costs. That is why the Obama admin kept them in the loop.
Grocery stores generally have lower profit margins but that is not the metric that should be used. Administrative costs are a huge issue and Obamacare didn't really do anything to address those. http://medicaleconomics.modernmedic...dministrative-costs-are-killing-us-healthcare
Administrative costs are huge and government has no incentive to streamline them. Competition does provide that incentive. As it stands, there is no incentive in Obamacare to be involved as it's limitations make it untenable to stay involved. The cost of healthcare is what drives premiums, not the cost of healthcare insurance overhead. Obamacare did not address costs other than increasing healthcare device taxes and forcing expanded coverage, all of which increases costs to the insured.
"By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's." Paul Krugman But Paul Krugman, the Nobel Prize-winning New York Times columnist, was calling the VA’s Veteran’s Health Administration “a huge policy success story” that “offers important lessons for future health reform” as recently as 2011. “Multiple surveys have found the V.H.A. providing better care than most Americans receive, even as the agency has held cost increases well below those facing Medicare and private insurers,” Krugman wrote in a piece attacking Republican plans to reform the department. Krugman goes on to insist that the V.H.A. is a model of “socialized medicine” that works by controlling costs. “Crucially, the V.H.A. is an integrated system, which provides health care as well as paying for it,” Krugman wrote. “So it’s free from the perverse incentives created when doctors and hospitals profit from expensive tests and procedures, whether or not those procedures actually make medical sense.”
