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Originally Posted by Steve9930
Yes, it is a single payer system. How solvent is Medicare? Medicare does not cover all the expenses either. You still have costs involved. Look at the financial burden for Medicare. Now imagine everyone on the same plan. I'd still like to see full competition between companies, across state lines. Use the same model as Auto Insurance. Remember the premium you pay for Medicare is only a portion of the cost of providing you with Medicare Health Insurance. This is not going to be an easy problem to solve. However I do know one thing. Let the Government take total control and things will not get better. Once established in a Government Program its here forever.
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There is competition across insurance companies for Medicare. That is why some plans offer above what normal medicare covers at zero premium. Thus in theory you are correct I.E. supply and demand. However this country has allowed monopoly to be an accepted practice thus given the opportunity the insurance companies will form cartels and not compete. The government will have to be involved one way or another. An aside I averaged $20000/yr for two for medical expenses for ten years before medicare. I think it's the best thing since tab top beer cans.