LogFAQs > #935100532

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Topic	How is healthcare so much cheaper in countries other than the US?
Broseph_Stalin 03/01/20 10:04:24 PM #39:	Insurance (private or public) raises the cost of goods and services by introducing a third party to the transaction. Goods and services that people consider indispensable are generally inelastic, meaning higher prices do not impact demand. Health care would be an example of both, so you end up getting really high prices. Most countries address this issue (in very different ways!) but the farthest the US has gone is Medicaid and Medicare which only subsidize our expensive system without fixing the cost issue. <cite>Broseph_Stalin posted [p:935100532] in How is hea... [t:78442877]...</cite> <quote>Insurance (private or public) raises the cost of goods and services by introducing a third party to the transaction.Goods and services that people consider indispensable are generally inelastic, meaning higher prices do not impact demand. Health care would be an example of both, so you end up getting really high prices. Most countries address this issue (in very different ways!) but the farthest the US has gone is Medicaid and Medicare which only subsidize our expensive system without fixing the cost issue. </quote> ... Copied to Clipboard!
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