How Do the Different Types of Healthcare Systems Compare?
Single Payer Health Insurance vs. Universal Healthcare vs. Socialized Medicine
Healthcare reform in the United States has been a talking point for decades, particularly as hospital and prescription drug expenses increase. Unfortunately, there is a lot of misinformation regarding single payer health care, universal healthcare and socialized healthcare. Oftentimes, these terms are used interchangeably in spite of the fact that they have some major differences. Understanding what each system is and just as importantly, what each system is not, is important for keeping up with the ongoing debate.
Single Payer Health Insurance
Unfortunately, for many, health insurance is a significant cost burden. Even those who have access to an employer-sponsored plan may have a hard time affording their monthly premium. The cost of healthcare is continuing to climb, and there is a lot of talk about what can be done to keep costs affordable for the average American. As the U.S. government works to find a solution to the country’s healthcare problem, one of the phrases that have been tossed around a lot is “single-payer health care system.”
With a single payer system, there is one entity that collects all healthcare fees and pays for all healthcare costs. Rather than multiple competing health insurance companies, there is one public or quasi-public agency that finances healthcare for everyone in the system. Essentially, everyone would have the same health insurance plan from the same health insurance company. In countries with single payer health insurance, citizens have access to all necessary medical care, including vision care, dental care, doctors and prescription drugs and are able to choose where to receive care. This system is similar to our current Medicare system.
The primary benefit of single payer health insurance is that it is associated with significantly fewer administrative costs. Because fewer entities are involved, overall expenses and wasteful spending are easier to control. Currently, there are 17 countries with single payer health insurance, including Japan, the United Kingdom, Finland, Spain and Iceland.
Is a Single-Payer System the Same as Socialized Medicine?
With socialized medicine, the government owns the hospitals, purchases the technology, such as MRI scanners and X-ray machines, and employs doctors, nurses and specialists. This system is used around the world with varying degrees of success.
Single-payer health care, however, is not the same thing as socialized medicine. While there is one payer in charge of purchasing a majority of the medical care, that payer does not own the technology or the hospitals, and it does not employ the medical care providers. In addition to this, the payer is not necessarily the federal government; in theory, it could be the state or even a health insurance company that managed to secure 100 percent of the market share.
Medicare is an Example
Medicare is an example of a mostly single-payer health care system that we currently have in place. Medicare beneficiaries have private insurers to choose from, but the government is the main purchaser.
Finding Affordable Healthcare Coverage with Nevada Insurance Enrollment
A single hospital stay can end up costing tens of thousands of dollars, and even routine care can be very costly. Few people are in a position to handle a medical emergency without seriously jeopardizing their financial outlook. Finding affordable health insurance coverage can be a challenge, but at Nevada Insurance Enrollment, our health insurance agents specialize in helping people with nearly any budget find good health insurance coverage. Reach out to us today to talk about your options.
Recent Posts
How Getting Married Affects Your Health Insurance
Getting married means lots of conversations about combining everything from last names to bank accounts. While picking a health insurance plan that covers both of you may seem practical, there are cases in which maintaining separate policies makes more sense.
How to Save Money on Prescriptions
If you are among the 55 percent of Americans that are taking a prescription drug, you may be concerned about the affordability of medication therapy. Fortunately, there are a couple of things that you can do to ease the financial burden.
Have You Recently Lost Medicaid Health Insurance?
If you are currently on Medicaid, there are some scenarios in which you may soon be at risk of losing your coverage. Knowing your options can help ensure that you do not have a gap in health insurance coverage.
Search This Website
Most Popular Pages
By page visits (this month)
#1) Health Insurance Subsidy Chart
#2) Health Insurance
#3) Health Insurance WITH a Subsidy
#4) Insurance Blog
#5) Request a Quote
Top 5 Most Popular
By page visits (this month)
#1) Health Insurance Subsidy Chart
#2) Health Insurance
#3) Health Insurance WITH a Subsidy
#4) Insurance Blog Posts
#5) Request a Quote
Recent Posts
How Many Hours Can You Safely Drive?
If you are not accustomed to spending hours per day in your car, it can be difficult to determine how quickly you should aim to reach your destination.
Safety Tips For Driving In The Rain
In Las Vegas, roads are particularly slick at the beginning of the storm. That is because they are built without a drainage layer. Dust, oil and grime collect on the surface of the road. When it rains and these mix with water, the dirt settles to the bottom and the oil rises to the top, creating a very slick surface.
Understanding Motorcycle Insurance
If you ride a motorcycle, then you need an insurance policy that protects you and your investment. Understanding what coverage is available and even more importantly, what coverage is legally mandated, can ensure that you enjoy your bike for years to come.
Buying a Used Car From a Private Seller
The vehicle’s history report includes information such as its previous owners, open recalls and damage, accidents, repairs, maintenance history, and odometer readings. If you are buying the vehicle from a dealership, then they will probably provide you with the report if you ask for it.