Thursday, November 17, 2022

The Future of Health Insurance?


The midterm elections indicate that a growing number of voters seem inclined to make cool-eyed calculations as unenthralled adults: Do not seek the best imaginable political outcome; seek instead to avoid the worst.--Will

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Michael Gerson, a neo-con political advisor--especially for Bush, speechwriter, evangelical Christian, and editorial writer for the WashPo has died of kidney cancer. A controversial guy. In October 2017, Gerson referred to President Trump's "fundamental unfitness for high office" and asked whether he is "psychologically and morally equipped to be president? And could his unfitness cause permanent damage to the country?" He cited "the leaked cries for help coming from within the administration. They reveal a president raging against enemies, obsessed by slights, deeply uninformed and incurious, unable to focus, and subject to destructive whims"

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The New York Post buried Trump's 2024 campaign launch on page 26: "Florida Man Makes Announcement."

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Amazon.com Inc on Tuesday launched Amazon clinic, a virtual platform where users can connect with healthcare providers to help treat common ailments like allergies and skin conditions.

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...he thought that monopolists are “like *Incubusses* (who) doe suck the very vital spirits, and drive into one vein that masse of blood which should cherish the whole body.” Those who were excluded from membership in this fraternity and those who had to bear the increased costs caused by monopoly, were forced to suffer “a kind of slavery upon him in his own country” which Thomas Johnson wanted to see abolished as soon as possible.--Thomas Johnson (1645) reviewed by Hart

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The Future of Health Insurance?

Things change, sometimes for good reason. Except for health care. Everyone knows that single-payer systems are best. And inevitable. All roads lead to single-payer.

But here is another view.

In 2000, around 100,000 Swedes had private health insurance. Today, there are seven times as many, in a country of 10 million people. In 60% of cases, the insurance is paid for by the employer. According to the Swedish insurers’ organization Svensk Försäkring, the rate can vary from 300 to 600 crowns on average per month. For those dealing with health problems, the advantages are quicker consultations and avoiding long waiting lines.

Single-payer systems are failing.

Single-payer’s magic has historically worked via just a few channels:
1. Some amount of monopsony allows the government to bid down medical services below market rates.
2. Political imperatives lead to lower training burdens, lower staffing ratios, and lower certainty in diagnosis and treatment.
3. Obfuscation of possible alternatives diminishes demand for costlier care.

The author (Cowen) concludes that the demographics of the modern West are simply growing and changing too fast to allow for economic management by single payors.

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