The Best Health Care Fix You've Never Heard Of

[hill2016]

43. actually

here's another point you should consider

private insurance funds roughly 30% of US health care spending. let's call it 900b in premiums collected out of 3 trillion.

out of this, roughly 100b goes to health insurance companies (processing, underwriting, fraud detection, litigation, marketing, and of course profits). most of this cost could be cut out by going to single payer, which would have its own administartive costs though.

on the providers front, how much could be saved by getting rid of all the administrative costs in dealing with many insurance companies vs a government agency? i'm thinking at least 10 - 20 %. of course this number is pulled out of my ass, but next time talk to your doctor how much he could save if he only had to deal with one government entity.

so if we look solely at the private insurance part, there could be substantial savings there in moving to single payer.