How Much Does Health Insurance Cost in the USA Compared to What is Paid in Europe Per Taxpayer for Universal Health Care?
The average insurance premium per month is roughly equivalent to the amount of tax paid for healthcare over a year. This comparison is particularly interesting when juxtaposed with the health care systems in various European countries, where universal health care is the norm.
Medical Treatments Cost Comparison
When examining the costs of various medical treatments, it becomes apparent that the cost in the USA is often more than twice as high as it is in a European country. A simple Google search can help you compare the cost of the same treatment in the USA to that in a European country, such as Sweden. Such differences highlight the disparity in healthcare costs and the financial burden placed on individuals.
Universal Health Care in Europe: Coverage for All
In countries like Sweden, healthcare is not only accessible but also widely covered. For instance, a refugee from Afghanistan, believed to be 15 years old, underwent a heart transplant. This case made headlines when immigration authorities attempted to send him back, citing his inability to live without medical care. The doctors emphasized that without continuing treatment, the individual would die shortly after returning to Afghanistan. This story underscores the comprehensive nature of healthcare in countries with universal coverage systems.
What does this mean? In countries like Sweden, the healthcare system is designed to ensure that every recognized individual receives the necessary medical care. Despite the high costs of treatments, individuals typically pay close to zero at the point of service. This system not only benefits the individual but also contributes to a healthier and more robust society. For example, a disease like cancer, which might cost a million dollars in treatment, leaves the individual with minimal costs due to the universal coverage system.
Healthcare Spending in the USA
In the USA, the cost of healthcare per capita is around double that of all other developed countries with universal healthcare, and this is accompanied by equal or worse outcomes. According to the CDC, 6 out of 10 people in the USA have one chronic condition, while 4 in 10 have two or more. This incidence rate is roughly 200 percent of what is seen in countries like Canada and the UK. Consequently, the per capita spending in the USA is about twice that of these countries.
The high costs in the USA are largely attributed to exorbitant profits and salaries within the healthcare industry. For instance, the CEO of a major healthcare company in the USA can earn millions in salary and bonuses, which inflates healthcare costs. Additionally, pharmaceutical companies and other medical providers in the USA often charge higher prices for medical procedures and medications.
Tax Contributions and Additional Benefits in Europe
In contrast, the taxes in countries with universal healthcare, such as Sweden, are sometimes higher than in the USA. However, these higher taxes are not just spent on healthcare. They also provide additional benefits such as no-cost or low-cost advanced education. This means that graduates in advanced education in the USA often leave with astronomical amounts of debt, whereas their counterparts in countries like Sweden can access higher education without incurring such financial burdens.
For instance, the USA per capita cost of healthcare is around double that of Canada, the UK, and other countries with universal healthcare, but the outcomes are often worse. The key factor here is not just the cost but also the medical need. People in the USA have higher rates of chronic conditions, driving up the overall healthcare spending. Any comparison of healthcare spending should include an assessment of medical need per capita to truly understand the underlying reasons for the disparities.
In conclusion, the USA's healthcare system, while expensive, does not always provide the best outcomes. Countries with universal health care systems, such as Sweden, offer comprehensive coverage and higher quality care at lower overall costs, often due to higher tax contributions that provide additional benefits. This comprehensive approach ensures that all individuals receive the necessary medical care, leading to healthier populations and a more equitable society.