Currently, many U.S. citizens rely on a health insurance plan for protection from the high cost of medical care and access to both routine and preventative care. Most health insurance in the nation is provided through employer-sponsored programs into which employees pay for coverage for themselves and their families. Those who do not have access to an employer-sponsored health insurance plan may opt to purchase an individual health insurance plan, which generally has higher out-of-pocket costs.
Making Sense of Single-Payer Health Insurance Systems
Unfortunately, for many, health insurance is a significant cost burden. Even those who have access to an employer-sponsored plan may have a hard time affording their monthly premium.
The cost of healthcare is continuing to climb, and there is a lot of talk about what can be done to keep costs affordable for the average American. As the U.S. government works to find a solution to the country’s healthcare problem, one of the phrases that have been tossed around a lot is “single-payer health care system.”
What Is a Single-Payer System?
A single-payer health care system is one in which there is one party that collects all healthcare fees and covers all health care costs. In theory, this could reduce medical costs because there would be significantly fewer entities involved in the system, thus cutting down on administrative costs. Rather than billing individual insurance companies, healthcare providers would bill one entity, or payer, for the services they provide. Patients would continue to receive comprehensive medical care as well as the freedom to choose their medical care provider.
Is a Single-Payer System the Same as Socialized Medicine?
With socialized medicine, the government owns the hospitals, purchases the technology, such as MRI scanners and X-ray machines, and employs doctors, nurses and specialists. This system is used around the world with varying degrees of success.
Single-payer health care, however, is not the same thing as socialized medicine. While there is one payer in charge of purchasing a majority of the medical care, that payer does not own the technology or the hospitals, and it does not employ the medical care providers. In addition to this, the payer is not necessarily the federal government; in theory, it could be the state or even a health insurance company that managed to secure 100 percent of the market share.
Medicare is an example of a mostly single-payer health care system that we currently have in place. Medicare beneficiaries have private insurers to choose from, but the government is the main purchaser.
Finding Affordable Healthcare Coverage with Nevada Insurance Enrollment
A single hospital stay can end up costing tens of thousands of dollars, and even routine care can be very costly. Few people are in a position to handle a medical emergency without seriously jeopardizing their financial outlook. Finding affordable health insurance coverage can be a challenge, but at Nevada Insurance Enrollment, our health insurance agents specialize in helping people with nearly any budget find good health insurance coverage. Reach out to us today to talk about your options.