Robert Frank wrote an op-ed in the New York Times last week called “Why Single-Payer Health Care Saves Money.” He points out that ObamaCare “is an inefficient system” and should be replaced with a single-payer system that will sharply reduce administrative costs, and government agencies can negotiate much better terms with service providers like UnitedHealth Group.
But what Frank ignores is the incredible cost of a single-payer system that allows everyone to get a valuable commodity called “medical care” at no marginal cost — in essence, for free. The taxpayer foots the bill. This is the system in place in England, Canada and most of Europe, often resulting in shortages (long waiting times for surgery, MRIs, etc.) and lack of access to the latest biotechnological breakthroughs that American firms provide.
Click here to read the full article on stockinvestor.com, “Would a Single-Payer Health Care System Save Money?“