shared a media post in group #ScholER
The surprising backstory of American health insurance:
• In the 1800s hospitals were religious and charitable organizations - Detroit Mercy, Mount Sinai, etc.
• Around the 1870’s hospitals became the center of education and medical practice
• Before 1920’s costs weren’t that high yet, you mostly paid out of pocket
• People bought insurance privately (like how you buy auto insurance), still not employer-sponsored
• During WW2 to curb inflation from impacting the war efforts, Roosevelt introduces wage + price controls
• Companies resort to competing on health insurance because fringe benefits were not affected by these controls
• After the war wage controls were lifted, but employer-sponsored plans stuck around -> introducing the dynamic of not being able to get healthcare if you’re unemployed
Crazy how FDR's decision 80 years ago still dictates access to healthcare today
