Health Care

'Medicare for all' bill estimated at $32.6 trillion

'Medicare for all' bill estimated at $32.6 trillion”

But, now, a Koch brothers supported project is making the case for the "Medicare for All" reform that has been championed by progressives such as Vermont Senator Bernie Sanders.

These changes would lead the US government to control virtually all health spending in the United States - Sanders' plan would also cover dental care and vision care - in what may be the biggest increase in federal expenditures in history, according to Blahous.

That's trillion with a T.

Paying for such a system would require a historic increase in taxes - and Blahous writes that "doubling of all now projected federal individual and corporate income tax collections would be insufficient to finance the added federal costs of the plan". All those people seeing doctors and going to the hospital will drive up health spending over the years, but the legislation is created to offset those costs through lower provider payment rates, drug savings and administrative cost savings.

Sanders' plan builds on Medicare, the popular insurance program for seniors. All US residents would be covered with no copays or deductibles for medical services.

A new report on Bernie Sanders' Medicare for All plan finds an whopping cost for the federal government.

Sanders noted that the Mercatus Center receives funding from the conservative Koch brothers, and that Koch Industries CEO Charles Koch is on the center's board.

"If every major country on earth can guarantee health care to all, and achieve better health outcomes, while spending substantially less per capita than we do, it is absurd for anyone to suggest that the United States cannot do the same", Mr Sanders said.

"Health care costs, even for those who have health insurance, are endangering tens of millions of people every day in this country", said National Nurses Union co-president Jean Ross, RN. But Sanders is right that a new study concludes his plan would reduce overall spending on health care in America.

Sanders' staff found an error in an initial version of the Mercatus report, which counted a long-term care program that was in the 2016 proposal but not the current one. Blahous says the report is his own work, not the Koch brothers'.

Also called "single payer" over the years, "Medicare for all" reflects a longtime wish among liberals for a government-run system that covers all Americans.

The idea of a national health insurance plan has gained broader acceptance since Sanders made it the cornerstone of his 2016 presidential campaign. That number would drop to $7.35 trillion if Sanders' plan were implemented, the study found.

While the price tag for the federal government would increase significantly, decreased spending by other groups would actually lower the total amount of healthcare spending over the same 10-year period.

Sanders released the video on social media just hours after a George Mason University study estimated the astronomical price-tag associated with the potential proposal; finding it would likely cost over $32.6 trillion.

Kenneth Thorpe, a health policy professor at Emory University and a senior health policy adviser in the Clinton administration, added to the discussion, stating that people will end up paying more in taxes than they would save on premiums under the new plan.

But to single-payer advocates, there is no obvious difference to the average American between sending their money to a private insurer through premiums and sending it to the government through higher taxes.

The Mercatus study takes issue with a key cost-saving feature of the plan: that hospitals and doctors would accept payment based on lower Medicare rates for all their patients.

The Mercatus Centre also projected the plan would garner savings, like from lower prescription costs by $846bn by 2031.



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