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.



Like this

loading...
loading...

Latest


02 August 2018
China warns against blackmail as Donald Trump considers higher tariffs
US President Donald Trump's administration is proposing a higher 25 percent tariff on Chinese goods. Global stocks took a tumble on Wednesday as news spread about U.S. plans for steeper tariffs.

02 August 2018
Facebook Wants to Help You Break Your Cell Phone Addiction
Facebook has announced new tools to tackle social media addiction , available in its app and on Instagram . Tap any bar to see your total time for that day.

02 August 2018
Sarri finally opens up about Willian’s odd absence at Chelsea
When asked about whether or not he is frustrated by the issue, he said: "I want to speak to him before I answer these questions". But Sarri indicated his desire to keep his best players at the club ahead for the new season.

02 August 2018
Nico Kovac: 'Robert Lewandowski will not leave Bayern Munich this summer'
So far Chelsea have brought in veteran goalkeeper Rob Green as a third choice and Jorginho who will add a lot to their midfield. Bayern Munich manager, Niko Kovac , has said Robert Lewandowski will not leave the club, despite links to Real Madrid .

02 August 2018
North West Is Channeling Her Inner Kim Kardashian, Kanye West & TMZ Beware
Though Kim's response to Khloe is cut off in the video, she writes on the story clip "TELL ME MORE ". You're better than this. "I'm really concerned, I don't think you're eating".

02 August 2018
Alisson confident great things ahead for Liverpool
Fabinho , Xherdan Shaqiri, Naby Keita and Alisson have all arrived - the latter for a world-record fee for a goalkeeper. The club spent a world-record fee for a goalkeeper to sign the Brazil worldwide from Roma for £65 million last month.

02 August 2018
Sanedi calls on industry to move back Earth Overshoot Day
Notable declines were seen in Singapore, the Bahamas, Denmark, United States (US), United Kingdom (UK) and France. On the other side of the world, residents in Cape Town have had to slash water consumption in half since 2015.

02 August 2018
Astronauts Capture The Blood Moon From Space, And The Photos Are Breathtaking
PA has revealed the most commonly googled questions that people have been searching for with regards to the upcoming eclipse . Dr Emily Brunsden, director of the University of York's Astrocampus, added that this eclipse was a "micro blood moon ".

02 August 2018
LG unveiles premium V35 ThinQ Signature Edition in Korea
In terms of specifications, LG V35 Signature Edition is expected to continue with the same internals as the LG V35 ThinQ . It boasts 256GB of inbuilt storage space which can be further upgraded to a maximum of 2TB with a micro-SD card.

02 August 2018
OSU Coach Urban Meyer knew of abuse allegations against assistant in 2015
Smith was sacked as Ohio State's wide receivers coach on Monday, July 23, after the allegations of domestic abuse surfaced. Following the publicity of this report Ohio State has placed Meyer on administrative leave.