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by Decathect
3335 days ago
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One of the provisions of Obamacare was a cap on the administrative costs of insurance companies at 20% of premiums, with any excess returned to the purchaser as a rebate. The first year it was in effect more than a billion dollars was returned. The deadweight cost of the private insurance industry over the years is pretty staggering. In contrast, the Medicare program spends less than 2% of its budget on administrative costs. |
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