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Medicare is not "sucessful" because it competes as an "option" - it is "successful" because it sets prices on a take it or leave it basis and mandates "contributions" from all wage earners often for decades before the first benefit is ever paid. Once all prices for each and very medical procedure, device, drug and service are set by the government then many payers could survive (and profit) with lower contribution (premium) rates.
many other first world countries have something like medicare to cover all of their citizens, and they are experiencing the same or better outcomes for a fraction of the price.