Ginzberg: Health Swamp
n Satisfactory for most people so don’t tinker
n 1/7 no insurance but they are children; rarely use
physicians and hospital
n 1/7 Medicaid; deficiencies in health care
n 1/7 poor insurance; catastrophic illness can be devastating
n 2/3 good coverage; 65 Billion annual tax subsidy benefits
wealthy
n Affluent elderly get more benefits from Medicare than they
contributed in taxes or premiums, particularly for Part B
(pay only 25% of the annual cost)
n Physicians’ incomes average:$165,000
n Most of 5,200 hospitals operate in the black