The basic problem is there is no price control, there was not before, and now there is even less.
I agree. First and foremost it ceased being true insurance decades ago. What 'they' call insurance is actually a price fixed health maintenance plan that pools the monies of unknown and unanticipated catastrophic and emergency care with anticipated and known expenses.
The insurance companies with the assistance of big government have become a price fixing monopoly middleman not subject to free market forces that profit regardless cost.
Much like the secondary education system, the health system is a bloated pig subsidized and protected by big government.
The bubble will burst eventually...
“”Costs will go up as fast as they possibly can, until the industry collapses.
The basic problem is there is no price control, there was not before, and now there is even less.”
I agree. First and foremost it ceased being true insurance decades ago. What ‘they’ call insurance is actually a price fixed health maintenance plan that pools the monies of unknown and unanticipated catastrophic and emergency care with anticipated and known expenses.
The insurance companies with the assistance of big government have become a price fixing monopoly middleman not subject to free market forces that profit regardless cost.
Much like the secondary education system, the health system is a bloated pig subsidized and protected by big government.
The bubble will burst eventually...”
Agreed, although this is true of public primary & secondary education as well, with one caveat.
Your not required to attend in every state, and the merits of 2ndary education vs the costs(Directly upon the student, nevermind the 2/3rds burned on everyone else) are becoming increasingly dubious. (Its hard to imagine how wastfull collage has become)
Likewise with copay some healthcare procedures vs alliterative have for a time(until abolished) acted as a bit of a break on price.
Insolently on the education front, we might be able to sell some States into abandoning all public education subsidues in favor of directly fiancing the individual student instead. (a kind of higher education valture).
Such a system would castrate the public university and force them to get rid of much of indoctrination programs in favor of student preferred education. (They would have to to compete with private & tech schools.)
State politicians could further point out that they aren’t cuting education spending, simply redirecting it to the students.