Social Security - the biggest, most complicated, most heavily regulated insurance company in the history of mankind is run by YOUR federal government at less than 1% for ALL overhead and administrative costs.
Don't tell me that We, The People can't efficiently run our own insurance program.
The less money required to send insurance executives to conferences in Cancun and pay bonuses, the more money available to pay claims for beneficiaries who have paid into the system and the cheaper the premiums need to be.
Duh!
-Joe
Are you seriously using social security as the model for how healthcare should be run? Wow. I didn't know that anyone was a fan of social security. Social security has been leaking and flat-out losing money for years. Remember how Al Gore wanted to put it in a lock box? Because the program stinks. We put money in and somehow it disappears. By 2025 or 2030 it is supposed to be all dried up and gone, despite the chunk they take every month from my paycheck and yours. That is why, sir, I seriously doubt overhead costs are less than 1%. And there's no way this federal government can pull of a successful medical program, especially if social security, medicare and medicaid are examples for how they'd like to pull it off.
Believe it. The administrative costs, ALL of them, including office space, wages, training, computers, heat, lights, the whole shit and shaboodle are less than 1 penny out of every tax dollar collected (just FICA taxes, mind you, not all taxes). The reason? SSA is managed and manned by professionals who are committed to excellence and willing to do the job for a
reasonable wage.
SSA is the most efficiently run insurance program ever conceived. That's why the health insurance industry is lobbying so hard to keep their gravy train to themselves - they would fold under the competition.
SSA is solvent until 2035 - 2045 depending on what happens with the economy, and things are looking good for reform because starting in 1984 all newly hired members of congress were covered by SS, and civil service began being grandfathered out. As soon as the old timers like Kennedy are replaced by leadership hired after 1984, you will see Social Security reform cooking nicely on the front burner.
(insert your favorite Deity here) bless the USA!
-Joe