MIT Professors Amy Finkelstein and Liran Einav have proposed a total overhaul of the U.S. health insurance system, advocating for universal basic health coverage, in their book “We’ve Got You Covered: Rebooting American Health Care”. The authors argue that the current patchwork of health policies leaves many Americans uninsured or facing high costs, even if insured, and propose a system where everyone automatically gets basic health coverage for free.
Additionally, private insurance could be available for those seeking extra amenities. Although not budget-neutral – spending 18% of its GDP on healthcare – the authors argue that the U.S. already pays for universal coverage without receiving it, as other nations spend an equivalent percent of GDP on their public healthcare systems. The authors suggest their plan, while not immediately feasible politically, should remain in the public conversation until the need for change becomes inevitably pressing.
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[Source: MIT News, July 25th, 2023]