US salaries also have to include cost of healthcare.
Plus HSA contributions, 401k matching, dependent care FSA contributions, etc. The US has tons of tax advantage pay options for the well heeled employers. If someone says they’re earning $250k, and doesn’t specify if it’s total comp or not, I assume the employer is kicking in an extra $50k for various benefits.
As an employer I would have to pay 78.852 if an employee had a base salary of 60.000.
This is before personal income taxes, which are also very high.
https://www.verksamt.se/web/international/running/employing-...
In terms of the proportion 31% is relatively small honestly - employee charges in the US generally range somewhere in 40-60% but senior developers with families often have payroll overhead that can run upwards of 80k and can represent a much higher proportion of the employer's out of pocket employment expenses. These costs can be extreme at relatively hip progressive companies that employ some unskilled folks. Your 5k/month healthplan might be proportionally little on your 150k salary but if someone working in the mail room and earning 20k annual has the same benefits it'll work out to 300% their take home cost - this is why employers often segregate benefit packages to different pay ranges.
Not really. The ACA (Obamacare) caps overhead and profits at either 15% or 20% depending on market (google "medical loss ratio").
The dirty secret is that too many doctors go into medicine for the wrong reasons (making money, instead of helping people), and collude to limit the number of new doctors created each year. The AMA is by far the most effective union in the US.
Number 1: It's not the profits that are capped. Profits plus operating expenses are capped. Operating expenses (like paying folks in the call center to answer questions about coverage, adjudicating claims, etc.) come out of the insurance company's 15/20% (national/regional). If medical claims are less than 75/80% of premiums, the insurer is legally obligated to issue rebates. If the cost of administering the plan is more than 15/20%... too bad, so sad: the insurance company is legally obligated to loose money and (eventually, if they don't fix it) go bankrupt.
Number 2: I never said that it wasn't more expensive in the US. Just that health insurance companies are not the reason it is so (which was the reason you cited for the US's high healthcare costs). Mathematically, even if you assume it's entirely graft and profit (and it's not--processing claims is not free), the very best you can do is a 20% reduction in costs. What accounts for the rest?
Bear in mind that medical doctors in the USA earn as much as FAANG engineers. The average doctor salary across all specialties in the USA is $300k. Many earn 2x that. By way of comparison, it is unusual for a doctor in the UK to earn even as much as $200k, and the average is around $100k.
Unless the UK is somehow finding people who will pay money to the NHS in exchange for the honor of answering phones and administering claims, I find it difficult to believe that health insurers are anywhere close to the biggest driver of healthcare costs in the US.
$100k is about £71k. Starting salary for consultants in England is £82096.
1. Not every doctor is a consultant. Specialists range £41k to £76k. GPs range £61k to £91k.
2. The salary bands are fairly narrow. Consultants may start at £82k, but they only go up to £111k.
Here you can have it from the horse's mouth: https://www.healthcareers.nhs.uk/explore-roles/doctors/pay-d...
> Specialists range £41k to £76k.
You've misunderstood what they said. They said "speciality doctors", not "specialist doctors". In England the trainee ranking is Foundation Years, Core Trainee, Speciality Trainee.