How Do the Different Types of Healthcare Systems Compare?

Single Payer Health Insurance vs. Universal Healthcare vs. Socialized Medicine

Healthcare reform in the United States has been a talking point for decades, particularly as hospital and prescription drug expenses increase. Unfortunately, there is a lot of misinformation regarding single payer health care, universal healthcare and socialized healthcare. Oftentimes, these terms are used interchangeably in spite of the fact that they have some major differences. Understanding what each system is and just as importantly, what each system is not, is important for keeping up with the ongoing debate.

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Single Payer Health Insurance

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.”

With a single payer system, there is one entity that collects all healthcare fees and pays for all healthcare costs. Rather than multiple competing health insurance companies, there is one public or quasi-public agency that finances healthcare for everyone in the system. Essentially, everyone would have the same health insurance plan from the same health insurance company. In countries with single payer health insurance, citizens have access to all necessary medical care, including vision care, dental care, doctors and prescription drugs and are able to choose where to receive care. This system is similar to our current Medicare system.

The primary benefit of single payer health insurance is that it is associated with significantly fewer administrative costs. Because fewer entities are involved, overall expenses and wasteful spending are easier to control. Currently, there are 17 countries with single payer health insurance, including Japan, the United Kingdom, Finland, Spain and Iceland.

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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

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.​

 

Does Health Insurance Cover Drug Rehab?

Does Health Insurance Cover Drug Rehab?

Many who struggle with substance abuse, also struggle with mental health disorders like depression, anxiety, and bipolar disorder. Often, treatment will include medication, therapy, and rehab for both provided it’s medically necessary.

Does Health Insurance Cover Sex Change?

Does Health Insurance Cover Sex Change?

Gender reassignment surgery in order to be considered medically necessary, certain criteria must be met, such as if a qualified mental healthcare professional provides a referral and medical or mental health concerns are present.

Does Health Insurance Cover Hair Loss?

Does Health Insurance Cover Hair Loss?

If you are experiencing hair loss due to an underlying medical condition, then there is a good chance that your health insurance will cover treatment for the condition, either completely or at least a portion of the cost. To be sure, you’ll want to check your “Agreement of Coverage” document.

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Socialized Medicine

While socialized medicine tends to be used as a blanket statement for single payer health insurance and universal healthcare, it actually takes both models a step further. With socialized medicine, the government owns the technology, operates the hospitals and employs the medical staff. This system is used in Great Britain. In the United States, the Veterans Administration is an example of socialized medicine. By contrast, with a single payer health insurance model, the hospitals are privately funded and the doctors are not employed by the government.

 

Universal Healthcare

As its name suggests, universal healthcare coverage is a system in which every individual has healthcare coverage. Oftentimes, though not always, universal healthcare and single payer health insurance go hand-in-hand. To date, more than 30 countries have universal healthcare, including Canada, which also has a single payer system, and Germany, which do not have single payer health insurance. In most cases, countries with universal healthcare only extend healthcare to citizens. In Canada, for example, undocumented immigrants are not eligible to receive coverage.

 

Finding Healthcare Coverage with Nevada Insurance Enrollment

As the cost of healthcare in the United States climbs and the debate surrounding different models marches on, we may continue to see changes to our current system. If you need help navigating the current system and understanding what type of healthcare coverage is available to you, Nevada Insurance Enrollment is here to help. Contact one of our experienced health insurance agents today to find a health insurance plan that fits your needs, budget and lifestyle.

 

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