Whether the medical system is American or Canadian, there are all sorts of medical procedures whose costs are not currently borne by the state. As is typical these days, there’s never any mention of ways in which free markets could lower these costs. Instead, the implied solution is that the magical entity known as “others” should simply assume all of the burden. In other words, let’s deal with the problems of a mostly Sovietized system by fully Sovietizing the same system. What could possibly go wrong?
A growing number of retirees, like Morton, are grappling with healthcare debt due to medical bills. Medicare, which provides health insurance coverage to more than 66 million people, covers the lion’s share of the cost of medical care, but not all.
On average, a 65-year-old who left the workforce last year may need $165,000 in savings to cover out-of-pocket healthcare expenses throughout retirement.