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Allison Schrager's avatar

thank you, I have. more when I was working in industry.

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Ernest's avatar

Americans are generally unaware of how much more expensive US medical care is compared to the rest of the developed world while simultaneously the US has the lowest life expectancy in the developed world. The extremely inefficient US healthcare system undermines retirement security because of the excess funding healthcare requires in the workplace and in retirement. Funds that could go towards retirement funding are being siphoned off to healthcare administration costs instead. As a result, the wealthiest country in the world is struggling to fund adequate retirement for its citizens. To put the excess healthcare costs in perspective, the amount Americans pay for healthcare in excess of the rest of the OECD would pay for the US military spending twice over each year.

The real solution to retirement funding is figuring out how to get the US healthcare per capita costs to be in the same general vicinity as the rest of the developed world while hopefully matching those countries life expectancies and medical outcomes. The money that would be freed up would essentially wipe out the funding shortfalls for retirement without any new taxes.

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