Public Option and Single Payer : Question

[BeFree]

How do the costs for these great programs get paid?
Will the government pay the bill?
Or will individuals pay according to need?

Honestly, I don't know, but we seem to have some experts here, so I ask....

[Oregone]

1. "Public option" is quite ambiguous. Its was shaping out to be self-sustaining and funded by premiums

As far as single payer, the government pays out on all claims (and can also negotiate rates that they pay out at).

As far as how such an insurance entity is funded, its normally up to the particular government (but in the end, everyone pays). But instead of paying a premium based on how sick you are, or how old you are, or what your gender is, or even a flat premium for rich and poor alike, its often funded with taxation (a combination of many kinds). The rich (old or young, health or sick) would pay more into the system and those on the bottom would pay nothing.

Many SP plans have no point of access fees like deductibles and copays. If you are poor and make no income, you get the same level of care as someone who is rich, for absolutely no costs (except maybe sales tax). The more wealthy you are, the more you pay.

Normally. Though, SP can be set up as progressive or regressive as a state chooses, its just often the former. Regardless of how its funded, its dramatically cheaper, lowering everyone's necessary average contribution to the pot.

[BeFree]

2. Sounds like socialism?

Hey, I consider myself to be a socialist, so...

Thanks for this, Oregone, I can damn near grok it.

[Oregone]

3. It is, and that makes it all the better

Having fat cat heirs sit at home and collect profit from a bunch of different companies doesn't make insurance magically better (actually, worse being that its expensive to fund those lavish lives). Insurance isn't exactly an industry that constantly changes and needs market pressure to come up with new ideas. All it needs is a big risk pool and an efficient way to pay out on claims. Its not rocket science. There is no reason, whatsoever, that the government can't do it. Thus far, its proven to do its incredibly cheaper, and in a more fair way