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Edited on Sat May-28-11 07:01 AM by Recursion
Really if you had the choice who would choose to buy insurance from a company that cost 30 percent in administration costs over one that cost 2 percent? Everyone would choose medicare.
Well, it depends. My insurance plan is up there in the 80/20 world but costs significantly less than Medicare. Between me and my employer, the monthly premium is something like $600 (vs $900 for Medicare), the deductible is $500 (vs $1000 for Medicare) and I don't have copays (vs 20% for Medicare). Insurer overhead isn't the only (or even biggest) problem here.
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