Single Payer is the Best Way to Control Costs
The federal Accountable Care Act can do no more than bring most of the nation up to the level Vermont already is at in terms of cost control.
• Lower costs per person
• Lower rates of uninsured
• Better quality care than most of the nation
Nevertheless, Vermont has little if any control over the rapid rise in health care costs. In the years 2000–2008 Vermont's costs doubled from $2.2 billion ($6 million a day) to $4.4 billion ($12 million a day). [Source: BISHCA page 24].
None of Vermont's legislated programs have slowed cost increases. They can't, because they are selective and non-systemic and they leave intact a system in which 30 percent of expenditures are for administration and profits, half of which are unnecessary. Studies show that the cost of the unnecessary administration is enough to cover all of the uninsured and underinsured.
[Source: "Health Care System Reform Design: Achieving Affordable Universal Health Care in Vermont," by William C. Hsiao, K.T. Li Professor of Economics Harvard University; Steven Kappel, Principal, Policy Integrity, and Jonathan Gruber, Professor of Economics, Massachusetts Institute of Technology].