- it has a much larger pool of insured, which reduces overall risk, and thus can have lower premiums/taxes
- there is no need for profits, which again lowers costs
- providers only have to deal with a single "insurer", which significantly reduces complexity of getting paid. Patients no longer have to waste time filling out paperwork about their insurance provider, and dealing with misunderstandings and miscommunication about whether they are insured, who they are insured by, etc.
- You no longer have to worry about if your preferred provider is "in network". Which also removes needless beurocracy.
- There is more of an incentive to care about longterm health, because the government will pay for all healthcare over the life of the patient. This used to be the case for private insurance, back when people stayed with the same employer, and same insurance company for most of their life. But now, insurance companies just want to minimize costs while you are with them, which probably won't be that long.
- Employers no longer have to waste time and resources providing health insurance for employees, and employees no longer need to spend time, energy, and anxiety on "open enrollment" every year.
One interesting thing i would like to see would be for costs like Medicare not be borne by businesses on a per job basis but rather just part of their tax liability (note: requires first fixing the loopholes that mean large corporations pay no taxes).
Reason being that it disincentives job creation, by making it more costly to hire in America. Arguably all businesses and people benefit by keeping people alive longer, and therefore the companies which employ more people but make less profits shouldn’t pay more towards that goal. Let giant but very profitable companies with fewer employees pay too.
- it has a much larger pool of insured, which reduces overall risk, and thus can have lower premiums/taxes
- there is no need for profits, which again lowers costs
- providers only have to deal with a single "insurer", which significantly reduces complexity of getting paid. Patients no longer have to waste time filling out paperwork about their insurance provider, and dealing with misunderstandings and miscommunication about whether they are insured, who they are insured by, etc.
- You no longer have to worry about if your preferred provider is "in network". Which also removes needless beurocracy.
- There is more of an incentive to care about longterm health, because the government will pay for all healthcare over the life of the patient. This used to be the case for private insurance, back when people stayed with the same employer, and same insurance company for most of their life. But now, insurance companies just want to minimize costs while you are with them, which probably won't be that long.
- Employers no longer have to waste time and resources providing health insurance for employees, and employees no longer need to spend time, energy, and anxiety on "open enrollment" every year.