How does the presence of insurance factor into healthcare? Are costs higher because it exists?
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Having multiple private and public health insurance increases healthcare costs.
* The proof is that healthcare is more expensive in the US than anywhere else, by a lot
* Insurance companies take money to give to their CEOs, employees, and stockholders
* Doctor’s offices need more clerical staff in order to navigate the rules of billing insurance, which is slightly different for each insurance company. And those clerical staff need to be paid
* Patients are less likely to shop around for lower costs if they are not directly responsible for paying, so there is less competition to drive down prices
* Higher prices from the above causes decreases the amount of people who get preventative medicine, meaning more people get more expensive care for emergencies
* Insurance companies make doctors fill out prior authorizations, which takes time, and doctor time costs a lot of money
* Insurance-company-related paperwork increases physician burnout, which reduces the amount of doctors. Decreased supply leads to increased demand and higher cost
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