I’ve been saying for sometime that we needed to privatize healthcare and scrap healthcare insurance. If everyone set up savings accounts, like the Social Security System but privately owned, and were required to tuck away money to pay medical costs, the costs would come down through competition.
If I had to pay out of my own pocket, I’d rather go to the doctor who charges $100 a visit as opposed to an equally qualified doctor who charges $150 per visit.
I think insurance should be limited to catastrophic coverage.
We keep talking about competition in the marketplace, etc., but there really isn’t any. There are a handful of insurance carriers and the government. There are too few players for price to ever come down.