The Real Cost of Private Insurance vs. Medicare


From digby

And Medicare takes care of the very sickest people in our country.

Krugman:

If Medicare costs had risen as fast as private insurance premiums, it would cost around 40 percent more than it does. If private insurers had done as well as Medicare at controlling costs, insurance would be a lot cheaper.

It’s a mystery why anyone claims that shifting more people into private insurance is a good idea. Actually, no, it isn’t a mystery; it’s an outrage.

Imagine if people over 50 had been allowed to buy into Medicare as was proposed during the Health Care debate. They would have been paying into the system as they already are and also paying for their current insurance. And they would have been getting their care from the less costly system at a time when they are starting to have health problems.

In fact, imagine if everyone were in the less costly system.
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