‘The Public Option’ has become a popular phrase in the United States. It relates to the ongoing efforts of the Obama Administration and the Congress to reform health insurance. One of the proposals to keep the cost of health insurance competitive and prevent its escalation, estimated to double in eight years, is a “public option.” It involves the government offering health insurance to those who are interested in purchasing it. Because this would be a non-profit scheme which would require less overheads it would offer health insurance at cheaper rates and would prevent the insurance companies from unduly increasing prices.
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