Fact

Valuation of the Fact

Conclusions

The US has the only “For Profit” and the most expensive Healthcare System among all the world’s developed countries. It is about double what most other developed countries spend.

Healthcare-Cost-Comparsion

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  • One of the reasons for this is that competition does not work in a market where the buyer is not qualified to know what they need and they typically have no cost or value data to make an informed selection.

Every other developed country has a National regulated Healthcare System.

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One of the reasons for this is that competition does not work in a market where the buyer is not qualified to know what they need and they typically have no cost or value data to make an informed selection.

The World Health Organization ranked the US Healthcare System 37th in the world.

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The US is one of the worst overall Healthcare Systems among all developed countries.  Because the Free market is not optimal for Healthcare.

Two of the major drivers for an effective Healthcare System are Healthcare Education and preventative medicines/inoculations.

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Every dollar invested here has a substantial savings return in healthcare costs. As neither of these are very profitable the US invests less in these areas than other countries.

The US ranks 34th for Life Expectancy by the WHO, equal to Cuba. The UK is 19th, Canada is 9th and Japan is 1st.

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US Current Healthcare System is sub optimal.

The US does lead the world in some specialist areas of treatment and in the development of new drugs and treatments.

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The US System rewards high profit potential areas.

Health insurance premiums are rising by 35, 45 or even 55 percent in some places.

Premiums for BlueCross BlueShield of Tennessee will be 36 percent higher, on average, than they were last year. For policies by Moda Health, the largest insurer in Oregon, premiums will be 25.6 percent higher. And in Minnesota, the average monthly premiums for BlueCross BlueShield are rising between 45 and 49 percent, depending on the plan.

Before last year, insurers had no experience selling such policies, under such conditions, directly to individuals. When they initially set their premiums, they had to make some guesses. They also had to compete for market share. Insurers planning to stay in the new marketplaces for the long haul had incentive to price low, in order to grab customers, even if it meant running losses in the short term.

Now, with hard data on the customers they’re attracting, many insurers are discovering the population is less healthy than they had expected — and more likely to run higher medical bills. At the same time, federal programs designed to cushion insurance company losses are subsiding, partly because the law’s architects intended them to be temporary and partly because Republicans — led by presidential candidate Sen. Marco Rubio (R-Fla.) — forced elimination of one key program in the spending deal Congress enacted last year.

So after two years of premiums that seemed surprisingly low, at least by the standards of private health insurance in the U.S., some insurers are raising prices to adjust. That’s the source of the big hikes. 

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Obamacare is Bad

The University of Missouri-Columbia announced on Aug. 14 it would pull subsidies for graduate student health insurance plans.  This is a direct result of Obamacare. (#GradInsurance debacle is a DIRECT result of #ObamaCare. #MIZZOU has to break the law to do the right thing.”)

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Obamacare is Bad