August 26, 2009
By George Erickson
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So why are these people so afraid of a Canada/European single-payer program, a plan that is far superior to our for-profit system that leaves 47 million Americans with no insurance and millions more with inadequate coverage via policies that let the insurance company which procedures will be allowed and which will be denied?
Here's why: Health is a lucrative business. Medicare, a single payer system that lets you choose your MD, has low overhead costs that run around 3%. In comparison, our much-vaunted private health care system admits to spending an average of 20% of your premium dollar on what they call “operating costs.”
Those who run Medicare receive modest salaries, but in 2002, Norman Payson, the CEO of Oxford Health Plans took home $76 million, Leonard Schaeffer, the CEO of WellPoint received $21 million and D. Mark Weinberg, the executive VP of WellPoint: was forced to make do with a mere $14 million. That's per year!
In fact, the twenty highest-paid health insurance executives in 2002 received $237 million. Add another $1.1 BILLION in stock options (for a total $1.75 billion for TWENTY people) and it becomes obvious why these “for-profiteers” have no interest in change.
They don't care that the US ranks 33rd in health care – just behind Castro's Cuba. They don't care that we have a higher infant mortality rate than single-payer countries like Canada, the UK, Australia, France, Germany, Japan and Sweden, and they don't care that we spend twice as much per person on health care (but live shorter lives) than citizens of those countries.
In contrast to the for-profit system, where insurance company employees are rewarded for finding loopholes in company policies that permit the denial of coverage, single payer systems exist to deliver health care, not deny it. Instead, we Americans are saddled with a system that works very well if you are a member of Congress or if you are wealthy enough to pay for deluxe coverage, but for most of us, that's just a dream, as evidenced by the fact that more than 60% of all personal bankruptcy filings involve unaffordable health care costs.
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http://www.opednews.com/articles/Single-Payer-Now-by-George-Erickson-090826-658.html