“In the United States, over 85 percent of health care expenses are paid for by insurance companies or governments. This is one of the highest rates of insulation in the world (based on OECD health data, but this particular table is not available on line). Even in Canada, the percent of health care costs paid out of pocket is slightly higher than in the United States. Americans’ high rate of insulation, combined with the abundant availability of trained specialists and the latest equipment, accounts for the high level of health care spending in this country”. -–Arnold Kling, Ph.D. in economics from the Massachusetts Institute of Technology
But why would a canadean pay out of pocket when he does not have too?
And why are drugs from canada cheaper even though they are made by the same companies as the drugs we get here ?
Because they have price controls in canada, as they do in most of the civilized world. In america pharmacutical companies are allowed to overcharge at will.
Canada’s drugs are cheap because of the United States refusal to create price controls…If you create price controls here in the United States as well, you in effect, kill the goose that lays the golden egg.
Health insurance is a great aspect to many lives. Health coverage should cover all medical bills and expenses.