Sunday, 5 January 2014

America's inefficient health care system

In The Myth of Health Care's Free Market David Cay Johnston looks at the US health care system and makes some interesting points.
  • The health care system in the US has all the hallmarks of an inefficient market.
  • It's the most expensive in the developed world.
  • Medicare, the US Government run single payer system for the elderly is much cheaper and more efficient than the system for those under 65. To quote the article: "If everyone in the U.S. was on Medicare, the savings would move the federal budget from deficit to surplus."
  • The US spends 17.6% of its economy on health care compared to 11.5% in Canada, France and Germany.
  • 48 million Americans had no health insurance in 2012. Another 30 million were only covered for part of the year.

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