Monday, October 12, 2009

The Stressed German Model

The October 10, 2009 Wall Street Journal points out that Germany's system of universal care is on the verge of collapsing.

Here's an excerpt from, "The Stressed German Model":
Germany's health-care system was brought to life in 1883 by Otto von Bismarck and became the model for virtually every such state-directed national insurance plan since. Alas, the German system is starting to come apart at the financial seams. Germany's system relies on a handful of state-supported health insurers. This week they informed the government that the system was on the brink of a financial shortfall equal to nearly $11 billion.
There's no reason to think that state-controlled health insurance will work any better in the United States.