By Chris Conover
Forbes, Dec. 30, 2018
People 65 and older accounted for more than one third of U.S. medical spending. Yet even though government pays for 65% of the elderly’s medical expenses, the burden of health spending (out-of-pocket expenses as a percentage of income) is much higher among the elderly than among those below age 65, largely because of Medicare’s swiss-cheese coverage. Switzerland might offer a better solution: Rather than segregate people into programs that offer inferior coverage, Switzerland created a rational income-related subsidy structure. Switzerland ranks #5 on the World Happiness Index, while the U.S. ranks #18. I’m guessing America’s Swiss-cheese-style Medicare coverage accounts for at least some of this difference. Click here to read more.