I think democrats have an unrealistic vision of how medicare buy-in would work in practice. They're confident the buy-in program would fund itself, that the insurance plan would be generous, and the premiums low. None of these things are true....Interesting analysis and proposal.
It also shows implicitly that the only way to go is single payer with the currency issuer picking up the tab as a public investment and "social dividend." Insurance is never going to be "affordable." What makes health insurance "affordable" now is business including it in employees' compensation package. But this reduces wages and salaries.
As health insurance has increased in cost, employee compensation has become increasingly dominated by health care expenses and wages and salaries have become stagnant as a result. Employees complain about lack of wage and salary increase, while business points to figures that employee compensation has been stable owing to increasing benefits.
Separating Hyperplanes
How to design a medicaid buy-in
Matthew Martin
Another ill-considered patch on an entirely dysfunctional system.
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