Health insurance is fundamentally broken. Here’s how to fix it from the ground up
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Diverging Reports Breakdown
Why American Health Care Is a “Broken System”
Jonathan Gruber: America spends more on health care than any other country in the world. He says the main culprit is the enormously high prices we pay for health-care services. Gruber says health care is expensive because rich people in a technologically advanced country spend a lot of money. The best way to solve the health care conundrum is to spend more money on things that don’t actually improve our health, he says.. The U.S. spends about a third more than we should, but we’re a better off country with the same health care spending we had in 1950, Gruber writes. In 1950, we spent 4 percent of our economy on health Care. Today, it’s 18 percent of GDP. We’ve had incredibly miraculous improvements in health care that have been wonderful for our health care, but it isn’d be better if we spent a lot more of our money on other things, says Gruber, who is a professor of economics at the University of Washington.
Source: Theringer.com | Read full article
Is Airbnb broken?
A year ago, many people were predicting the imminent collapse of Airbnb. But a year later, its shares are up 14%. CEO Brian Chesky acknowledged that it’s a fundamentally broken business. The number of short-term rental listings in the US skyrocketed to 1.38 million in September 2022. But as they started snapping up properties, it led to massive surges in real estate prices. By December 2022, only 10% of new homes cost less than $300,000. A study also found that if the number of Airbs if the long-term market for homes for $100,000 or less, the market for Airbnbs would be $1.2bn. But that figure could be as high as $2.5bn by the end of the year. The market could be worth as much as $3.6bn by 2019, according to a report by U.S. Bankruptcy & Investor Services (U.S.) The market is expected to be worth more than $4.5tn by 2019.
Source: Finshots.in | Read full article
Major PIP and universal credit benefits changes confirmed by DWP – what you missed
Experts warn up to 1.2 million disability benefit claimants could lose out on thousands of pounds a year because of the cuts. Work and pensions secretary Liz Kendall announced a range of reforms in a bid to cut £5 billion from the government’s benefits bill. The government has defended the changes as a way to reform a “fundamentally broken” benefits system and help more people back into work. Read a round-up of the main benefits changes below. Scroll down to read the key moments from a significant day for welfare reform as it unfolded. Read the full report from the Work and Pensions Committee on Tuesday, March 6. Read more from the Mail Online’s live blog on the benefits reform on Tuesday March 6 at 10.30am and at 11.15am. Follow us on Twitter @dailymailonline and @YahooNews.
Source: Uk.news.yahoo.com | Read full article
America now knows that nursing homes are broken. Does anyone care enough to fix them?
The pandemic turned nursing homes into a death trap for more than 170,000 long-term care residents and staff members who have lost their lives to Covid-19. For all the billions of taxpayer dollars that the U.S. spends on a system meant to care for frail, elderly residents, not enough money is being invested in caregiving, experts say. “The system is broken. Covid didn’t make it dysfunctional, but Covid showed that it was broken and dysfunctional,” said Robert Kramer, founder of Nexus Insights, a long- term care consulting firm. Low pay, high turnover and tough working conditions made these positions tough to fill long before the pandemic hit. In December, 30 percent of the country’s nursing homes reported shortages of nurses or aides, according to an analysis from the AARP on behalf of older Americans. The biggest obstacle to any sweeping change, however, isn’t the battle between the industry and advocates — it’s simply persuading lawmakers and the public to make long- Term Care a priority, policy experts said.
Source: Nbcnews.com | Read full article
Why Private Health Insurance Makes No Sense
During the Democratic primary, Bernie Sanders was criticized by fellow Democrats for wanting to raise middle-class taxes and abolish the private insurance industry. Many Democrats have defended the system of private, for-profit health insurance, suggesting that a “Medicare For All’ plan would be a radical proposal that would upend healthcare. The last Democratic president, Barack Obama, explicitly rejected a ‘single-payer’ healthcare system and said it is not right for America. What is a corporation? Well, exactly it’s a legal arrangement among different parties to cooperate in accordance with a certain set of rules. There is no reason for a corporation to pursue some goal that involves denying people care they desperately need. A corporation is an artificially constructed entity. It wants to give as much as possible to its shareholders and as little as possible for your care. That is its job. It is nothing that any other value that the corporation pursued, if it came at the expense of profit, is a violation of its mandate.
Source: Currentaffairs.org | Read full article
Global Perspectives Summary
Our analysis reveals how this story is being framed differently across global media outlets.
Cultural contexts, editorial biases, and regional relevance all contribute to these variations.
This diversity in coverage underscores the importance of consuming news from multiple sources.
Source: https://www.fastcompany.com/91332253/health-insurance-has-a-serious-design-flaw-heres-how-we-can-fix-it-health-insurance-desig