by Summary:
"The entire mechanism, half a trillion dollars a year of private insurance, and not only the money for the profits, but the money for the markets segmenting; the money for the entire administration that all the insurance companies do; the money that all the hospitals and the doctors have to spend to deal with the bureaucracy of insurance companies – that's half a trillion dollars a year, all of which could be spent on medical care, instead of being spent on either profits or just administrative costs," Nader said during the discussion. "It's a huge amount of money and we could institute a Medicare for all system without increasing taxes. I mean, that's not a discussion we have to get into because the cost savings from just eliminating the private insurance leech on the system would pay
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
"The entire mechanism, half a trillion dollars a year of private insurance, and not only the money for the profits, but the money for the markets segmenting; the money for the entire administration that all the insurance companies do; the money that all the hospitals and the doctors have to spend to deal with the bureaucracy of insurance companies – that's half a trillion dollars a year, all of which could be spent on medical care, instead of being spent on either profits or just administrative costs," Nader said during the discussion. "It's a huge amount of money and we could institute a Medicare for all system without increasing taxes. I mean, that's not a discussion we have to get into because the cost savings from just eliminating the private insurance leech on the system would pay
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Jodi Beggs writes Economists Do It With Models 1970-01-01 00:00:00
Mike Norman writes 24 per cent annual interest on time deposits: St Petersburg Travel Notes, installment three — Gilbert Doctorow
Lars Pålsson Syll writes Daniel Waldenströms rappakalja om ojämlikheten
Merijn T. Knibbe writes ´Fryslan boppe´. An in-depth inspirational analysis of work rewarded with the 2024 Riksbank prize in economic sciences.
"The entire mechanism, half a trillion dollars a year of private insurance, and not only the money for the profits, but the money for the markets segmenting; the money for the entire administration that all the insurance companies do; the money that all the hospitals and the doctors have to spend to deal with the bureaucracy of insurance companies – that's half a trillion dollars a year, all of which could be spent on medical care, instead of being spent on either profits or just administrative costs," Nader said during the discussion.
"It's a huge amount of money and we could institute a Medicare for all system without increasing taxes. I mean, that's not a discussion we have to get into because the cost savings from just eliminating the private insurance leech on the system would pay for all of Medicare for all, all the services, everything we're talking about and when we get to debating this on a political level, again, we ought to be emphasizing that," he added.
Eliminate the waste by eliminating the middle men. And automating the administrative system.
Declare health care a public utility providing a vital public good necessary for national wellbeing and the common welfare.
This is already acknowledged at the cabinet level in the establishment of a Department of Health, Education and Welfare. This area is arguably as vital as that of defense, if not more so. No one ever questions defense spending politically, economically, or financially.
Treating wellbeing and welfare as part of the common good is overdue, and health, education, and social support are vital to providing this.
While we are at it, let's pare defense spending" to actual defense instead of projecting power globally to preserve and extent hegemony, and let's also cut domestic security back to what is needed for public safety, and reduce the prison system to reflect actual crimes instead of arbitrary standards of behavior.
Most importantly, it is necessary to view all the above and more in terms of the dynamics of a complex adaptive social system in which everything influences everything else, and redesign the system for public purpose and the common good. MMT shows that the problem is not financial affordability.
Just the News
Nadler: 'Eliminating' private insurance could pay for 'Medicare for all' without raising taxes
John Solomon