Private insurance drags down our economy

The profit margin reported on October 27 for the health insurance industry doesn't count the salaries of their overpaid executives, nor their armies of inefficient bureaucrats whose primary goal is to delay and deny payment.

It also doesn't count the average $85,000 spent per physician in dealing with insurers. Or our inflated auto and homeowners' premiums because health "insurance" doesn't cover most injuries. Or the billions going to lawyers as we sue each other over medical expenses. Or the billions more lost by lenders to medical bankruptcies. Or the further billions lost in trade as domestic employers compete against countries whose governments pay for health care.

An efficient single payer system, covering everyone's medical care regardless of cause or employer, would cut this stupid waste enough to buy everyone a "gold plated" plan with the money we already spend.