Tuesday, January 6, 2015

The Real Crisis of Healthcare

According to WHO France has the best health care in the world.  They pay $4,118 (PPP) per capita for it.  After the U.S. the next most expensive healthcare systems belong to Norway ($5,669) and Switzerland ($5,643).  That buys them the 11th and 20th best systems.  The U.S. pays $8,508 per capita and for this it gets the 37th best healthcare system in the world, right behind Costa Rica.

According to the CBO, The Affordable Care Act (Obamacare) will increase Healthcare costs by about $900 per capita to $9,400.  So, rather than being good or bad, the proper conclusion to draw is that it fails miserably at its stated purpose of making healthcare more affordable.  Instead, it perpetuates the shell game of hiding the true costs of an overly expensive system.

Suppose we set a goal to have the second best healthcare in the world and, because we're just not as clever as the French, we set the goal of delivering it at 110% of the French or $4,530.  That is $4,870 (PPP) savings.  According to the Census Bureau, on July 4, 2014. U.S. population was 318,881,992 for a total savings of $1.55 trillion.

But how much is that?  The number is so large that it defies understanding.  Well, its enough to buy a Mercedes E350 for every family in America.  Or, we could increase the housing budget of every family in America by $150,000.  If we wanted to spend it to finance government, we could eliminate both the employer and employee portion of Social Security retirement tax PLUS finance the whole defense budget.  Or, if you prefer, we could cover all defense spending and make college free for everyone.

What is truly astonishing is that the fourth estate has not told Americans about this.  We need to understand why every nation can deliver healthcare for much less than we and 36 of them still get a better result.  The Polymath will tell its readers all about it.  Please subscribe (it is free) if you have not already done so upper left.

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