[chime]

> 1) Health insurance is already required to pay out at least 90% of your contributions, so even a hypothetically perfectly efficient replacement could only eliminate 10% of costs, all things equal.

All things remaining same, yes. But all things won't remain same because the incentives would be completely different. The 10% rule has incentivized the entire industry to raise their prices so that 10% will be worth more each quarter. Private insurance would rather have insulin at $1000/mo instead of $10/mo so that they can take $100 instead of $1 and they would rather collect $2000/mo in premiums than $200/mo. Medicare, on the other hand, can and should negotiate prices down: https://www.cms.gov/inflation-reduction-act-and-medicare/med...