ike I said.... regulations drive out competition inherently, and those states with more regulations, had higher costs.
What was the cost of your insurance policy in 2009?
Maryland has the lowest insurance and healthcare costs in the US. They are regulated.
I've been lucky enough not to have the need for any medical procedure. But all of the people I know who have been in a hospital don't do any shopping at all. They just pick the most famous hospital covered by the insurance.
If you wan't to keep it private you need a mechanism which increases competition.
It was about $100 if I remember right. $50 a check.
But that was a company plan, which was group coverage.
You can't both have highly regulated, and have competition. That's impossible.
The graph is extremely inconclusive. National average, assumes what exactly? There are states that are far more regulated than Maryland, and states that are far less.
So when comparing the national average, that's useless.
Further, it really doesn't show that rates have remained low. Looks to me that rates rose in relation to the national average, indicated it had little if any effect.
Maryland already sets hospitals’ prices. Now it wants to cap their spending.
But critics say the near-collapse of the state’s old system proves the perils of heavy-handed regulations.
“Hospital rate-setting clearly didn’t succeed at meaningfully slowing costs down,” said Joe Antos, who served eight years on the Maryland board that set rates.
Interesting how the people there are not saying it isn't working that well, which is exactly what your graph shows.
And the fact the system is on the verge of collapse, proves my point.
Moreover, it also points out something else I've been saying:
Each time a hospital provides a service, it has to negotiate how much money it receives from an insurer. The time-consuming and often contentious process results in widely varying prices for the same procedures.
Hospitals pushed for the highest possible payouts partly because they say they do not receive enough from Medicare, the federal program that reimburses medical providers for their care of the elderly.
There it is..... exactly as I have said dozens of times in this thread.
Medicare and Medicaid do not pay enough money to cover the cost of care. (which is pathetic given they are both going broke, while paying less than cost)
As a result Hospitals push to charge as much as they possibly can for treatment of private patients.
The reason health care costs are going up and up, is because of Medicare and Medicaid. These programs cost the hospitals money, which they have to make up that loss on private patients. That's you and me, bubba.