Americans have been asked for decades to disregard basic arithmetic. Americans have been led to believe that private insurance is more efficient than government insurance, Medicare. Americans have been told that somehow “cost of health care” + “healthcare administration cost” is greater than “cost of health care” + “healthcare administration cost” + “advertising” + “profit.”
The purveyors of misinformation have cost this country billions if not trillions of dollars. This is a direct transfer of wealth from the middle class to the owners of private insurance companies for paying a medical bill. It is the immorality of health insurance.
While the above chart is not intended to be a debate piece between single payer healthcare (Medicare for all) and private insurance, one can infer which is more efficient.
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