from Hacker News

U.S. Health Care Prices are the Elephant in the Room

by seanwoods on 3/30/13, 2:31 AM with 55 comments

• by michaelpinto on 3/30/13, 3:59 AM

  I'm not a twentysomething kid so I have to buy insurance — and at this point I'm now spending about $10k a year. I realize that doesn't sound like a ton of money, but if you're trying to self fund your own projects while living off the income of client projects and while paying office rent in NYC it's pretty damn painful.

  Ten years ago I was spending at least half that amount, and what kills me is that I'm a single guy — if I was paying for a spouse or a family plan it would be about double the cost. And the sad thing is that my coverage from ten years ago actually gave me more coverage.

  I'm happy to pay for coverage and be responsible, but the insurance companies at this point are pretty much on the level of racketeering mobsters. I had hopes for healthcare reform: But without a public option or killing the insurance companies I don't see much changing any time soon. I really hope that more pressure builds and people demand a real change.

• by teeboy on 3/30/13, 12:38 PM

  I am a student in US from India and I still don't understand how this whole stuff works. I have university insurance and was still billed 1500 dollars for once I had to go to hospital urgently.

  One of my friends went back to India for a dental surgery instead of doing it in US (Even with the flight fare, it came out far cheaper). And I have been to the best hospitals of India. I can stake my name for the fact that service in the US-based hospitals is same in quality with the best in India. Except they are less likely to make you bankrupt.

  I don't know the reasons behind this. But I am pretty sure the average Middle class American is getting royally effed by this system.

• by lostlogin on 3/30/13, 7:56 AM

  Note the graph on drug cost. New Zealand is cheap because of pharmac. This is a government owned company that buys in bulk for the country. By negotiating like this, good deals are made. As part if so-called fair trade agreement TPP there is pressure to drop this model. Gee, I wonder why...

• by dr_ on 3/30/13, 1:39 PM

  Transparency is important but in and of itself it's not enough. What's really important is the ability of transparency to lead to price reduction. Regardless of government intervention, this is likely going to happen soon. Premiums have been getting so high that employers and individual consumers of health care have been opting for plans with (much) higher deductibles to lower their monthly costs a bit. And it's not just private insurance - with the recent proposal by the federal government, in an area where Obama and the House GOP seem to agree, to combine Medicare part A and part B premiums will essentially have the same effect - higher deductibles for most seniors (currently very low for those who just use services for doctors visits). This will require consumers to shop around a bit more, and since they are paying more out of their pockets, they will demand more transparency in pricing, and it will come. Changes will not happen because the uninsured demand or need it. It will happen when the insured insist on it.