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Topic	This is why socialism kills motivation and drive
konokonohamaru 09/26/19 1:36:42 PM #48:	pls posted... konokonohamaru posted... Companies are greedy everywhere. To solve the problem of high premiums we have to ask why health insurance specifically is so f**ed up, besides just blaming greed Incorrect. Most other companies, like car companies and phone companies, are a lot more receptive to the laws of supply and demand. If Apple's phones are too expensive, people won't buy them because they don't need* the latest and greatest iPhone. That's arguably why Apple priced the base model iPhone 11 and why Google sells their cheaper Pixel models. Health insurance is not actually remotely as receptive to that. It's an inelastic demand curve and they know it. They gouge people and become rich by taking working American's incomes via insane premiums and high deductibles. They make a record profit each year. They love Obamacare-type laws because they continue to enshrine the concept of private health insurance, when really it should be nationalized the way any piece of core infrastructure/service is. It's 2019, we need to be civilized. Well, I mean you just did the type of analysis I was hoping to see more of. Kudos. Car companies and phone companies aren't any less greedy than health insurance companies, they just face much more elastic demand curves and also more competition. So some of the unique problems of healthcare are highly inelastic demand (partially due to the insurance based provision of healthcare), and also monopoly power of drug and medical device makers operating on generous patents. So one solution would be to weaken the patent laws. Stop letting drug manufacturers re-patent the same drug if they change the form of the delivery (i.e. pill or tablet,etc). Another solution is to increase price transparency so consumers can shop around for doctors/hospitals more easily. I wouldn't mind a public option or single payer system either. In fact, countries that seem to have good healthcare systems that their people like, like Taiwan, have a public option + private supplemental insurance. I do think access to good healthcare should be a right of all citizens regardless of financial ability, and to achieve that we need to enforce risk-pooling --- A very happy young man looking forward to a bright and wonderful future. <cite>konokonohamaru posted [p:927976667] in This is wh... [t:78043175]...</cite> <quote>pls posted...</cite> <quote>konokonohamaru posted...</cite> <quote>Companies are greedy everywhere. To solve the problem of high premiums we have to ask why health insurance specifically is so f***ed up, besides just blaming greed </quote> Incorrect. Most other companies, like car companies and phone companies, are a lot more receptive to the laws of supply and demand. If Apple's phones are too expensive, people won't buy them because they don't need the latest and greatest iPhone. That's arguably why Apple priced the base model iPhone 11 and why Google sells their cheaper Pixel models. Health insurance is not actually remotely as receptive to that. It's an inelastic demand curve and they know it. They gouge people and become rich by taking working American's incomes via insane premiums and high deductibles. They make a record profit each year. They love Obamacare-type laws because they continue to enshrine the concept of private health insurance, when really it should be nationalized the way any piece of core infrastructure/service is. It's 2019, we need to be civilized.</quote> Well, I mean you just did the type of analysis I was hoping to see more of. Kudos. Car companies and phone companies aren't any less greedy than health insurance companies, they just face much more elastic demand curves and also more competition. So some of the unique problems of healthcare are highly inelastic demand (partially due to the insurance based provision of healthcare), and also monopoly power of drug and medical device makers operating on generous patents. So one solution would be to weaken the patent laws. Stop letting drug manufacturers re-patent the same drug if they change the form of the delivery (i.e. pill or tablet,etc). Another solution is to increase price transparency so consumers can shop around for doctors/hospitals more easily. I wouldn't mind a public option or single payer system either. In fact, countries that seem to have good healthcare systems that their people like, like Taiwan, have a public option + private supplemental insurance. I do think access to good healthcare should be a right of all citizens regardless of financial ability, and to achieve that we need to enforce risk-pooling --- A very happy young man looking forward to a bright and wonderful future.</quote> ... Copied to Clipboard!
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