How does the presence of insurance factor into healthcare? Are costs higher because it exists?
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Absolutely, for several reasons. For starters, the insurance systems means there are those who are uninsured, but laws say they have to br treated for life threatening conditions. You can’t refuse treatment to a stroke victim because they don’t have insurance. How do the hospitals recoup the costs of these uninsured patients? By charing more for the patients who do have insurance. This effectively means insured patients are also covering the bills for uninsured patients, and uninsured patients can only be treated for life-threatening conditions and not treated proactively.
Secondly, the profit the insurance industry makes, as well as their overhead costs, are expenses added to the healthcare system that don’t have to be there. The presence of an insurance industry GUARANTEES that healthcare prices are higher because of its existence.
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