Medicare actually does a better job of controlling costs than private insurers — not remotely good enough, but better.
If you look at Medicare in isolation, the cost rise looks terrible, because it is:
But it looks a bit different if you look at private insurance, too:
If Medicare costs had risen as fast as private insurance premiums, it would cost around 40 percent more than it does. If private insurers had done as well as Medicare at controlling costs, insurance would be a lot cheaper.
It’s a mystery why anyone claims that shifting more people into private insurance is a good idea. Actually, no, it isn’t a mystery; it’s an outrage.The most significant fact about Medicare is not that it's too costly, but that it saves Americans a lot of money.
Throwing seniors - of all people - back into the private insurance market would mean vastly greater % of GDP eaten up by health care costs. Or sick people simply going without care.
Neither option is acceptable. Except perhaps to privatization fanatics and "free-market" ideologues like Congressman Paul Ryan (who admits to being inspired to go into politics by Ayn Rand, who conjured sociopathic narcissism into a pop philosophy that drives much of the libertarian movement.)