The single-payer health care insurance trap

Many Democrat politicians along with a significant number of reporters support a single-payer system or Medicare for all as the goal for health care in the United States.  Yet I read an opinion piece by Catherine Rampell entitled "Sorry Republicans but most people support single payer health care."  I am sure this comes from a completely unbiased poll.

Individuals, corporations, mutual funds, and private and public pension funds would lose when the private health companies become worthless.  I am curious how they would handle the loss of hundreds of billions (if not more) in value of the stocks, bonds and property that private health companies own.  What would happen to the millions of employees supported by the private health care system?  Over 500,000 people work in the offices of health insurance companies.  Think of the number of family members these people support and how many additional jobs these people generate by buying cars, houses, and all other products.  How would communities and states replace the property taxes, income taxes, sales taxes, and all other taxes these people generate with their income?  Think of the cost to the government if a significant proportion become dependent on the government. 

Unlike private health insurance companies, Medicare as an entity does not pay income taxes, sales taxes, or property taxes.  It is not required to recognize its trillions of unfunded liabilities on its books for future costs.  It is not required to keep reserves on its books for future claims.  It is not charged interest on government borrowings.  It is not required to recognize the full cost of its employees' pensions and lifetime health care costs as private companies are. 

Medicare is not subject to state regulations.  According to a 2009 report, Medicare rejected claims at a rate 1.7 times higher than the largest private carriers.  I wonder why the proponents of Medicare for all don't cite that statistic!  Lawyers do not go after the government in the manner they challenge private industry because the results aren't as beneficial.

People like to pretend Medicare has no limits on care, but that is absolutely not true.  One such limit is on number of days in the hospital.  Medicare pays for up to 60 additional hospital days in your lifetime with a high daily co-insurance, after you have used up your 90 days of hospital coverage in a benefit period.  After you use up your 60 lifetime reserve days, Medicare will no longer pay for any coverage until you start a new benefit period.

It appears that at the most, 10% of the people in the United States did not have good choices on health insurance prior to Obamacare being passed.  Instead of addressing those 10%, Democrats, with the support of the media, took away choice for 100% of us.  They added a massive number of mandates that significantly increase costs.  Obamacare destroyed competition.  Small and midsized companies obviously cannot afford unlimited annual and lifetime liabilities.  The solution should have been to expand Medicaid a little and make high risk pools for the truly uninsurable more available. 

We should get rid of Obamacare and its twenty taxes, massive mandates, and over 10,000 pages of regulations.  Write a short bill allowing insurance companies to sell whatever policies consumers want.  Individuals should be able to deduct the cost of health insurance on the front of the tax return, just like employees who get their insurance through their employers. 

I thought Democrats and the media were for freedom of choice.

Many Democrat politicians along with a significant number of reporters support a single-payer system or Medicare for all as the goal for health care in the United States.  Yet I read an opinion piece by Catherine Rampell entitled "Sorry Republicans but most people support single payer health care."  I am sure this comes from a completely unbiased poll.

Individuals, corporations, mutual funds, and private and public pension funds would lose when the private health companies become worthless.  I am curious how they would handle the loss of hundreds of billions (if not more) in value of the stocks, bonds and property that private health companies own.  What would happen to the millions of employees supported by the private health care system?  Over 500,000 people work in the offices of health insurance companies.  Think of the number of family members these people support and how many additional jobs these people generate by buying cars, houses, and all other products.  How would communities and states replace the property taxes, income taxes, sales taxes, and all other taxes these people generate with their income?  Think of the cost to the government if a significant proportion become dependent on the government. 

Unlike private health insurance companies, Medicare as an entity does not pay income taxes, sales taxes, or property taxes.  It is not required to recognize its trillions of unfunded liabilities on its books for future costs.  It is not required to keep reserves on its books for future claims.  It is not charged interest on government borrowings.  It is not required to recognize the full cost of its employees' pensions and lifetime health care costs as private companies are. 

Medicare is not subject to state regulations.  According to a 2009 report, Medicare rejected claims at a rate 1.7 times higher than the largest private carriers.  I wonder why the proponents of Medicare for all don't cite that statistic!  Lawyers do not go after the government in the manner they challenge private industry because the results aren't as beneficial.

People like to pretend Medicare has no limits on care, but that is absolutely not true.  One such limit is on number of days in the hospital.  Medicare pays for up to 60 additional hospital days in your lifetime with a high daily co-insurance, after you have used up your 90 days of hospital coverage in a benefit period.  After you use up your 60 lifetime reserve days, Medicare will no longer pay for any coverage until you start a new benefit period.

It appears that at the most, 10% of the people in the United States did not have good choices on health insurance prior to Obamacare being passed.  Instead of addressing those 10%, Democrats, with the support of the media, took away choice for 100% of us.  They added a massive number of mandates that significantly increase costs.  Obamacare destroyed competition.  Small and midsized companies obviously cannot afford unlimited annual and lifetime liabilities.  The solution should have been to expand Medicaid a little and make high risk pools for the truly uninsurable more available. 

We should get rid of Obamacare and its twenty taxes, massive mandates, and over 10,000 pages of regulations.  Write a short bill allowing insurance companies to sell whatever policies consumers want.  Individuals should be able to deduct the cost of health insurance on the front of the tax return, just like employees who get their insurance through their employers. 

I thought Democrats and the media were for freedom of choice.

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