> It sounds like private insurers are hugely subsidizing Medicare by paying 100x the price
More like they are billed 100x the price, negotiate down to 10x the price in general, and otherwise default to a point where the business collects .85x the price.
In the example in the article, the private insurance DID pay the full amount. I don't understand why the private insurer would ever do that, but in this case that's what was reported.
More like they are billed 100x the price, negotiate down to 10x the price in general, and otherwise default to a point where the business collects .85x the price.