Why is health insurance so expensive, anyway?
This one is actually disappointingly simple.
Health insurance is expensive because healthcare services and products are skyrocketing in cost, and, more importantly, the people who have historically been making the decisions about what services and products are consumed (providers), have no incentive whatsoever to control either the costs associated with care or the prices charged for that care. In fact, in many if not most cases under our current fee for service model, physicians and hospitals make more money by providing higher volumes at higher prices, regardless of the quality or effectiveness of what’s delivered.
There is simply nobody playing the Old Game who is in any way responsible for or motivated to control costs. But there are many players in the Old Game who make a LOT of money by doing lots of expensive procedures, regardless of effectiveness.
This is why it’s so important that we become empowered consumers and we seek out other players willing to play the New Game of high value health care.
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