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View Diary: Ezra Klein: Single payer not as simple as it looks (35 comments)

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  •  Medicare's administrative costs are less than 2%. (4+ / 0-)

    The health insurance industry calls money actually spent on medical services the MLR, or medical loss ratio. The ACA mandates that MLRs be no less than 80%. Some insurance companies had been enjoying MLRs as low as 75%, where 25 cents of every dollar collected went to CEO salaries, profits and administrative costs. Having no profits or 8-figure CEOs, Medicare's MLR is 98%. There are actually two ways of measuring administrative costs but no matter how you do it Medicare beats for-profit insurance by a mile. ☛ PNHP

    The free market is not the solution, the free market is the problem.

    by Azazello on Mon Jan 13, 2014 at 04:32:08 PM PST

    [ Parent ]

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