Annual $500 Billion Waste in Health Care Administration Exposed
The U.S. private health insurance system is criticized for its excessive administrative costs, wasting $528 billion annually, which could be reduced under a single-payer system. This inefficiency, coupled with high provider payment rates, is attributed to the multi-payer model, with private insurers failing to control costs effectively. The article argues for nationalizing health insurance to eliminate waste and reduce provider rents.