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Privatizing Medicare would increase the total cost to U.S. patients at least 35%. Medicare may have some fraud, probably by doctors and for-profit hospitals, but the example of Social Security system with less than 0.015% fraud as determined by multiple examinations, still has an administrative overhead of about 1.5%. Privatizing Medicare would only increase costs. The best strategy for reducing cost of medical care in the U.S. would be to have single papery medicare similar to the other major industrialized countries of the world.

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