Nova 401(k) Associates
Compensation Strategies Group, Ltd.
Nicholas Pension Consultants
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|The Financial Sinkhole of Health Insurance Complexity|
Physicians for a National Health Program [PNHP]
Feb. 2, 2015
"Compared with countries that have a single health insurer (i.e., the government), we waste more than $375 billion per year in excess paperwork to pay medical bills. That's $1 billion per day. That's more than $1 trillion every three years. That's 15 percent of all health spending -- 1 in every 7 dollars spent on health care -- on excess paperwork.... This waste equals $1,200 per year for each and every person in the United States. It represents 89 percent of total state and federal spending for Medicaid ... It amounts to 2.3 percent of the U.S. economy. And this striking toll doesn't even count the effort expended by employers for their employees' health insurance or time spent by patients and families dealing with insurance and bills."
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