Medical team helps battle the coronavirus at Samaritan s Purse field hospital in New York City, April 2020. | Samaritan s Purse
Few families in the U.S. can afford healthcare insurance. The average premiums for family coverage is about $15,000 per year, about the same as a mortgage in Oklahoma. Then why do most Americans have healthcare insurance? Because their employers pay up to two thirds of the cost.
Those without employer subsidized insurance must be content with catastrophic insurance and high deductibles. And by the way, healthcare insurance companies aren’t getting rich. Their average profit is 3%.
One way to reduce insurance premiums would be to cut medical costs because on average 85% of premiums go to pay doctor and hospital bills. A hospital in Oklahoma City has done that for decades and its chief opponents are other hospitals and doctors.
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