At last week’s presidential debate in Cleveland, President Trump said that Joe Biden would “extinguish” private health care options if elected. Biden responded, “That’s simply a lie.”
It’s not. Joe Biden’s “public option” would crowd out private choices.
Maybe not immediately, but as younger and healthier people leave employer-based coverage and the health care marketplaces for the “free” alternative, the private system will collapse.
Private insurance needs these less expensive consumers to offset costs for older and sicker patients.
As young professionals earning around $40,000 to $80,000 a year leave the market to try to recoup their monthly health care costs, premiums will rise for everyone else, pushing those earning even more to the public option. Rinse and repeat. The dreaded death spiral will soon be upon us.
Indeed, the public option is stop number eight on the