How to Money · Wednesday, September 23, 2026
Dr. Jordan Grumet suggests that universal healthcare systems in other countries often function well, providing comparable or better care at lower costs through tax-funded models rather than premiums and co-pays. He also proposes that the US could implement piecemeal solutions, such as allowing Medicare to negotiate drug prices, capping new drug costs, and reforming the medical malpractice litigation system to reduce overall healthcare expenses.
“Well, certainly universal health care systems in most other countries function pretty well. People pay a little bit extra taxes, but then they don't pay the premiums and the co-pays and they don't go bankrupt.”
“So universal Medicare, universal health care in the United States could probably work and we would probably end up spending less as a people on health care than we do now.”
“So if you remember during the Biden era and also during some of the Trump era, they've been talking about negotiating drug prices for Medicare and Medicaid. So the government in most countries, the government is the biggest buyer of pharmaceuticals and negotiates prices down.”