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Politics : Mainstream Politics and Economics
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To: TimF who wrote (9619)2/17/2012 6:12:19 PM
From: sm1th  Read Replies (1) of 85487
 
One also has to remember that the cost of private insurance includes the need to support insurance companies bureaucracies

There is one very significant part of the insurance market, which by definition would not be provided by government run insurance. A very large percentage of employers are self insured in the sense that the company bears the financial risk, and the "insurance" company just administers the plan and processes claims and payments. One health insurance company which I recently worked for had more self-insured members than fully insured (by the insurance co) members. I believe this is quite common, and know that I have been on that sort of plan for much of my life.
The insurance companies actually like this, as it allows them to spread their operating costs without increasing their risk, and the employers like it because it can lower costs. This option would never exist in govt sponsered plans, all risk would be born by the taxpayers.
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