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Health Care is highly regulated. This explains why it is also very expensive.
Since 1965 the United States population increased by about 60% to 325 million.
During the same
increased about 8,000% from $41 billion to about $3,300 billion. On a per capita basis, it
went from $209 to $10,348. Health care, as a percent of the Gross Domestic
Product, went from 5.2 to 17.9%.
Federal health insurance programs have a significant effect on the total health care industry which is fast becoming unaffordable to almost everyone except those who get it for 'free'.
Congress passed legislation in 1965 establishing the Medicare and the Medicaid programs as Title XVIII and Title XIX of the Social Security Act. On July 30, 1965, as part of his 'War On Poverty', President Lyndon Johnson signed this expansion into law. Said President Johnson, " During your working years, the people of America--you--will contribute through the social security program a small amount each payday for hospital insurance protection. For example, the average worker in 1966 will contribute about $1.50 per month. The employer will contribute a similar amount. And this will provide the funds to pay up to 90 days of hospital care for each illness, plus diagnostic care, and up to 100 home health visits after you are 65. And beginning in 1967, you will also be covered for up to 100 days of care in a skilled nursing home after a period of hospital care.
And under a separate plan, when you are 65--that the Congress originated itself, in its own good judgment--you may be covered for medical and surgical fees whether you are in or out of the hospital. You will pay $3 per month after you are 65 and your Government will contribute an equal amount."
Medicare for the poor aged is an extension of the original Social Security Act and financed much like the Trust Fund. Like the Trust Fund it has no surplus, no savings, no assets, only federal IOUs. Between 1970 and 2017 expenditures went from $7.1 billion to $707.1 billion. (see: https://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/ReportsTrustFunds/Downloads/TR2018.pdf)
Medicaid expenditures for poor adults and children, financed directly by the treasury, are largely out of control and demand an ever expanding part of government budgets and the economy. Between 1966 and 2017 expenditures for this program went from under $1 billion to $509.5 billion. (see: https://www.statista.com/statistics/245348/total-medicaid-expenditure-since-1966/ )
Medicare and Medicaid are administered by the Health Care Financing Administration. Like the Social Security retirement program, both medical programs are flirting with financial catastrophe.
Taxes to pay for government health insurance and premiums for private insurance become part of The Commons and available for exploitation including waste, fraud and abuse. For examples see:
The Affordable Care Act ("Obamacare") is the latest failed government solution to fix prior failed government health care solutions. Is Obamacare really affordable? Not for the middle class.
Free government health care is unaffordably expensive. If you want to see more on government health care click here.
How can more expensive health care be in the public interest?
Whose interests are served?
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What is politics as usual?
How does Politics As Usual damage society?
Why is the Libertarian Party NOT Politics As Usual?
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