To the Editor: The Register Guard
November 22, 2015
by Marc Shapiro, Eugene
Responding to Mr. Jensen’s Nov. 21 R-G letter, the following information is from United States Bureau of Economic Analysis, the Center for Medicare and Medicaid Statistics and University of Massachusetts economist Gerald Friedman:
From 2000 to 2015 Oregon Income rose 62% while Health Consumption spending rose 200%. From 2000 to 2015 health care spending grew from12.75 to 16 .25 percent of Oregon GDP. Under the ACA, it is projected that by 2020, 17% of Oregon GDP will be spent on Health Care as compared to 13%, under a Single Payer plan. While Mr. Jensen gives waiting times for non-essential services in the UK under its National Health Insurance system, which is favored by most Brits, he makes no reference to waiting times and unavailability of both primary care physicians and specialists under the present US system which is worse than all but two industrialized nations. 33% of the US population experience financially restricted access to care compared to 14% in 9 other countries. Medical costs are the leading cause of bankruptcy in the US, yet “medical bankruptcy” is unheard of in other developed economies.
While Mr. Jensen attacks a Single Payer system, without offering any viable alternative, in Oregon, the projected overall savings in 2019 from a single payer plan would be about $8 billion or $2,000 per person, much of which is from insurance company profits, overhead and CEO excess compensation.
If I were using Reginald L. Jensen as a financial adviser, I’d seriously consider looking elsewhere.