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Aetna CEO Threatened Obamacare Pullout If Feds Opposed Humana Merger

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142 points helloworld | 1 comments | 17 Aug 16 17:52 UTC | HN request time: 0.386s | source
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seibelj ◴[17 Aug 16 18:06 UTC] No.12306806[source]▶
Can anyone succinctly explain the benefits of having a market for private health insurance companies, rather than a single provider of health insurance (government, aka "public option")? Can a capitalist case be made for their existence? Does the lack of a large private insurance market in countries with government-provided health insurance cause lots of inefficiencies and waste?
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1. ende ◴[17 Aug 16 22:39 UTC] No.12309015[source]▶
Independent of the presence or absence of a public option, the benefits of a private market largely depend on whether an actual competetive market with consumer choice and pricing comparison can exist. In the US it cannot due to regulatory capture and occupational licensing plaguing the industry and creating massive market distortions. Consumers are completely disconnected from pricing.

Single payer and private markets can be complimentary, with private insurance funding more personalized care and a recourse from the dreaded death panels.

Single payer with private markets seems to be the model many countries are converging on.