Health Insurance Waste
U.S. Senator Bernie Sanders (I–VT) claims, “We need Medicare for All” because “we waste hundreds of billions a year on health care administrative expenses that make insurance CEOs and wealthy stockholders incredibly rich.”
IN FACT, Medicare and Medicaid have improper payment rates of 7% and 22%, far more than the 2–4% median net profit margins of health insurance companies. Furthermore, government regulations are a major contributor to healthcare administrative costs.
