I watched a very short part of Andrew Yang’s town hall in New Hampshire on December 30, 2019 and couldn’t believe that these New Hampshire residents are dumb enough to swallow what he was dishing out. These people need to do a little research about how the insurance industry works. Yang was trying to convince these knuckleheads that a government insurer would lower costs, and drive out the private industry slowly as to not cause the inevitable chaos that would occur with “Medicare for all”.
Let me explain in layman’s terms. It is the taxpayers that fund all government insurance. These government health insurance policies have no restrictions on the financial resources required to fund them, therefore, they can bill the taxpayer whatever they need to pay out any given claim. For example: If a wheelchair is sold by the manufacturer for $500.00 it becomes irrelevant because the government has to figure in the administration costs, and can bill for five times the amount, because they answer only to themselves. The private insurance corporations have to show accountability to its shareholders, to the accounting office, and to the customer. These private insurers, however, through their underwriters, compares what the government is charging, and some other risk factors, for a given policy and what its policy liability payouts are for its standards. It is these general comparisons that are driving up the insurance policy rates and the liability payouts of any given claim. “If the government can charge $2500 for the wheelchair, then we should be able to charge $2000” say the private insurers, and this way, they fulfill their obligations of accountability to the government, the shareholders, and the customers and no one can scrutinize the costs.
It is a fact that on its current trajectory, Medicare will soon become insolvent. How will adding 150,000,000 people to the system lower the cost? These Democrat socialists have completely lost their minds, all sense of reason, and anyone that buys into their insane ideas has also lost it!