For example, some governments have arranged for the payment through taxes and government expenditures, while others rely mainly on personal expenditures. What each country spends can determine the quality of healthcare among residents; annual checkups, major health-related issues, and the overall health of the country itself.
Meanwhile, the question of insurance cost, quality, and what it’s doing to the bottom line are regular discussions among government entities, and many countries are still discussing what works and what doesn’t.
Which countries have the most expensive healthcare today?
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By far, one of the most inexpensive healthcare systems, Australia offers public insurance in addition to private insurance residents can purchase for additional coverage. According to Health.gov, the country provides one of the best healthcare systems in the world and is jointly ran by federal, state, territory, and local governments. The country also has one of the longest life expectancies in the world. They do have options of Medicare and low-cost access. The cost is approximately $5,000 per person.
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The Netherlands has a universal healthcare system, which all residents are required to obtain. The government controls the basic package. However, they don’t manage it. Insurance for children under 18 is free, but adults pay a monthly premium in addition to contributing to the Health Insurance Funds, which pays for elderly medical care and other circumstances. The basic amount spent on healthcare is $5,000 per person.
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The Swedish healthcare system is mainly government-funded but through public taxes. Private insurance exists, and requirements insist each person obtains insurance. Medical fees are the focus of Swedish law, requiring caps for specific procedures and routine consultations. Sweden is also known for its maternity healthcare. Both parents are permitted a 480-day leave at 80 percent of their current salary with the employment guaranteed upon their return. This drives down infant mortality rates and increases life expectancy. Sweden estimates payments of $5,500 per person.
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The long-standing German healthcare system is a combination of public and private. What stands out in Germany is the healthcare provided to all. Not only is it mandatory for residents in the country, but with the government paying nearly $6,000 per person, it’s managed to keep healthcare costs lower for all involved. With required care, the costs are lower, and monthly fees per individual are based on the level of salary. Regardless of what you’re paying, everyone gets the same coverage, and the system has been working well for many decades.
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According to World Population Review, Norway is paying just over $6,000 per person and is operated by the central government. Individuals do pay for their healthcare, including annual check-ups, but once you’ve reached a certain cap, the government funds kick in. This means everyone pays in some, but the chronically sick are not saddled with overwhelming medical bills. Pregnant women and children under the age of 16 receive free healthcare.
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Healthcare in Switzerland is covered solely by residents with private insurance companies. In fact, the country law requires anyone living there must obtain healthcare within three months of taking up residence. There are basic healthcare mandates requiring insurance companies to offer general check-ups, prescription costs, and hospital visits, to name a few. Insurance companies are unable to deny coverage, and this results in approximately 90 percent of residents’ healthcare being covered by the program they’ve selected. Despite private healthcare arrangements, the country spends approximately $7,000 per person to make its program effective.
Luxembourg is located in western Europe, bordered by Belgium, Germany, and France. The country is responsible for 99 percent of its residents at just $8,000 per person. They, too, offer a health insurance system available at no cost as well as a private resource for those wishing for further coverage. Unfortunately, Luxembourg also has one of the largest numbers of health issues due to substance abuse. The country has one of the highest levels of alcoholism and a high number of deaths from cancer, diabetes, cardiovascular disease, and other respiratory diseases.
1 United States
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The Organization for Economic Co-operation and Development (OECD) says the United States has the highest healthcare spending in the world, with around $10,500 per person. With a system that is mainly private health insurance, what Investopedia calls a fragmented network was resulting in federal oversight other nations who impose price and service requirements experience. According to the National Conference of State Legislatures (NCSL), the annual premium per family for healthcare in 2018 was approximately $20,000.
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Sources: Health.gov, World Population Review, Investopedia
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