Private Health Insurance Is A Giant Scam
Last week, a New York Times report showed that the top healthcare companies in America charge wildly different prices for the same basic services. In many cases, it is cheaper to have no insurance at all.
It should not come as a surprise then that Americans spend more on healthcare than the people of any other developed nation on earth. Nearly 18% of our GDP goes towards healthcare costs, more than double the average for OECD countries.
Medical bills are a top cause of personal bankruptcy. More frighteningly, tens of thousands of Americans die each year because they do not have access to basic healthcare. A quarter of U.S. adults say they or a family member put off treatment for a serious medical condition because of the cost.
Despite spending the most money, America stacks up poorly in health outcomes. In the developed world, we have one of the lowest life expectancies, the most preventable deaths, and the highest infant mortality rate.
Meanwhile, the private insurance industry is a massive for-profit middle man standing in between the patient and their doctor. An insurance company is incentivized to raise rates and deny care as often as possible because it boosts the bottom line.
