From The Drive w/ @PeterAttiaMD, explaining why your insurance company is happy to pay $1000 for a drug that the manufacturer will accept $300 for if you pay directly. You wind up paying the difference in your premiums.
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US medical insurance companies are currently incentivized to create a *very* expensive system of care The ACA's 80/20 rule dictates that all administration + profits be <20% of premiums. Rising premiums mean higher profits, but premiums can't rise unless medical costs do
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Thanks for pointing this out. I'm going to tell everyone I know whenever this comes up. Unbelievable that this doesn't get brought up during debates
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Probably true. But we had a very expensive system of care before the ACA :-). It is definitely not bending the cost curve in the way that was promised, however.
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Systems follow incentives. This you can rest assured.
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the aca (sadly) has been a series of unintended consequences i know those folks meant to do well but due to its surge of high deductible and coinsurance exchange plans cost burden has shifted from the insurer to the patient your medical care is not that $20 copay anymore :(
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"I know those folks meant to do well" You are very wrong. They intentionally maximised profits for big pharma & big medicine. Obama was ALWAYS their minion. He blocked Canadian drugs as a Illinois state senator! He blocked universal healthcare day 1. Ask congressman Kucinich.
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