Comment by jhbadger
20 days ago
>First, private insurance shouldn't exist at all. It is rent-seeking of the highest order. There's no need for it. The US is the only country that works this way.
Some other countries have private insurance as an option. For example, you can buy private insurance in the UK and some provinces of Canada if you want. Some people obviously feel it is worth it to them to do so (faster time to treatment, private versus shared hospital rooms, etc.). The difference from the US system is that there is a public system available without this expense.
It can be problematic even as an option. Now doctors have a conflict of interest because they make more money from private insurances than within the public system. It also needs to be finely balanced otherwise too much of the spending is through private companies, starving the public system of funds.
It can work, but it needs to be very carefully regulated.