Fun fact, we could have this right now just by paying what the UK pays in taxes at an individual level and most people and businesses would make more money.
Your employer generally covers 77-83% of your insurance costs, and insurance costs rise faster than wages or profits.
If your net expenditures on insurance+cost of service+cost of prescriptions (and, presumably, also the cost of catastrophic care, should it happen) is more than 18% of your income minus what your employer pays, because your insurance cost is part of your total comp, you make more under universal healthcare.
At that tax rate the gov could just pay for everything and leave the rest of the system (largely) private, only using it’s market power to negotiate and standardize pricing, and everyone makes more money and has better coverage.
Fun fact, we could have this right now just by paying what the UK pays in taxes at an individual level and most people and businesses would make more money.
Your employer generally covers 77-83% of your insurance costs, and insurance costs rise faster than wages or profits.
If your net expenditures on insurance+cost of service+cost of prescriptions (and, presumably, also the cost of catastrophic care, should it happen) is more than 18% of your income minus what your employer pays, because your insurance cost is part of your total comp, you make more under universal healthcare.
At that tax rate the gov could just pay for everything and leave the rest of the system (largely) private, only using it’s market power to negotiate and standardize pricing, and everyone makes more money and has better coverage.