Optimal Medicare Expansion

I have explained Optimal Medicare Expansion (OME) in several posts but haven’t provided a comprehensive summary of all its features vis-a-vis the other public health insurance proposals.  Each proposal I have seen has at least one major flaw compared to OME. What follows is a brief synopsis of its features with comparisons to the majorContinue reading “Optimal Medicare Expansion”

Hustlers, Handicaps and Health Insurance

I’ve been calling my idea for a better public health insurance system Medicare Prime. However, I should have Googled it first, since there is a company that has already trademarked that name. So, I’ll use Optimal Medicare Expansion (OME) from now on. Part of the fun of being a masked vigilante is that I canContinue reading “Hustlers, Handicaps and Health Insurance”

There is No Such Thing as Universal Healthcare

Medicare For All is often described as being one way to achieve universal healthcare, a system in which all residents are assured access to healthcare. Such descriptions remind me of the tired but true adage that there is no such thing as a free lunch. A while back, the Lone Economist conceded that the USAContinue reading “There is No Such Thing as Universal Healthcare”

Free PIE for Everyone!

Readers of my blog are aware that I am not a big fan of Obamacare and Medicare For All (MFA). I have proposed an alternative to these two programs, Medicare Prime (MP). But the term “alternative” implies that this new proposal is opposed to Obamacare and MFA. The fact is that MP is a generalizedContinue reading “Free PIE for Everyone!”

How Much Would Medicare Prime Cost?

In 2018, expenditures by Medicare and Medicaid combined grew 4.9%. To put these rates in perspective, U.S. gross domestic product (GDP) grew only 2.9% that same year. Medicare and Medicaid expenditures have grown faster than the U.S economy for a long time. Needless to say, this situation is not sustainable indefinitely. Eventually the growth ofContinue reading “How Much Would Medicare Prime Cost?”

The Lone Economist Does the Urban Institute Study

I was all set to discuss the estimated cost of Medicare Prime (MP), my alternative proposal that would achieve many of the same goals as Medicare For All (MFA), but at a fraction of the cost to taxpayers. Then I looked at the detailed report of the $32 trillion 10-year cost estimate of MFA byContinue reading “The Lone Economist Does the Urban Institute Study”

The Medicare Prime Deductible

To fully appreciate the costs and benefits of Medicare Prime (MP), we need to explore its possible budgetary and distributional effects. There are several factors to be considered. One is how much the deductible would vary with income and other household characteristics. There are an endless number of possible formulas to determine a household’s MPContinue reading “The Medicare Prime Deductible”

It’s the Perspective, Stupid

Medicare Prime (MP) is my proposal for a health insurance system that would avoid many of the problems created by our current one. One of its proposed features is the classification of healthcare providers into two camps: in-network and out-of-network. The benefits of this bifurcation of providers deserve further explanation. As explained in a previousContinue reading “It’s the Perspective, Stupid”

Medicare Prime

Our quest for an optimal health insurance system is starting to come into focus. It would have several features in common with Medicare For All (MFA), Obamacare, and The Public Option (TPO), but with a few critical differences. Like MFA, it would be financed entirely through taxation, not premiums. It would recognize a minimally-acceptable levelContinue reading “Medicare Prime”

Can Public and Private Health Insurance be Complimentary?

Two substitute goods each satisfy the same need while not enhancing the benefit of consuming the other. For example, Coca-Cola and Pepsi both satisfy the need for a cola-flavored soft drink. Most people either consume one or the other. Few people like to combine the two. And because they are substitutes, their suppliers are naturalContinue reading “Can Public and Private Health Insurance be Complimentary?”