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How it works:
Single-Payer Health Insurance is a kind of health insurance system. Which is basically financed by the taxes that are mainly managed and run by just one entity. This entity can be considered as the government. Which provides all the essential health care services to all the citizens.
The only reason why it is referred to as “single-payer’ is because; it is run by just one entity that pays the cost of the insurance. The citizens don’t pay and cost to have this insurance whenever they may seek any essential health care. Although the working plan is the same each country that has single-payer health care, may manage this system different from others.
How is it beneficial?
By providing high-quality health care to the citizens by making it the lowest cost possible, single-payer health care plays its part. It keeps the health needs of the public satisfactory and of low-budget.
This way the citizens don’t have to worry about the budget of the medications and treatments. Which is one of the utmost reasons why this insurance is helpful to many? With all this single-payer health payer contributes to a healthy economy making the citizens satisfied with this insurance.
In other words, single-payer health care basically provides everyone equal health care facilities. A dispute of how much they can afford to pay for it. As the medical bills are paid by the government.
Countries that have this system:
Some of the states that have such organizations that offer a single-payer health care system to its public include:
In Canada, this healthcare system is delivered through a publicly funded healthcare system. This system is mostly free and has most of its services provided by private entities. This system was established in 1984, by the provisions of the Canada Health Act.
Healthcare in Taiwan is administrated by the Department of Health. This department is of the Executive Yuan. The Health Care system in Taiwan known as (NHI) was instituted in 1995. The system covered about 99% of the population in 2004. With the promise of equal access to all the citizens of health care insurance.
· South Korea:
After multiple establishments of health care resources for the citizens in South Korea, all the systems merged in 2004. After the merge, this new system is called a Single-Payer Health Care system in South Korea.
History of single Payer Health care System:
This system was coined in the 1990s to characterize the difference. That was between the Canadian Health care systems from the United Kingdom Health Care System. Both the state’s system differentiated in attaining the health care services through either private agencies or the government ones.
The fund that is used for this health care system is either managed by the government directly or through a publicly owned and regulated agency. The system Single-payer also contrasts with funding mechanisms like ‘multi-payer’, ‘two-tier’ and ‘insurance mandate’. Some other systems combine all the elements of these four systems to provide advantages to the citizens.