Medicare for all - Just give me the numbers

[KentuckyWoman]

Here's the bottom line. See the math below.

10 years

$72 Trillion - Keep the system we have now (Bernie says $50 Trillion - but he's not counting everything)
$32 - 34 Trillion - Medicare for all

That's HALF --- America's overall costs would be chopped in HALF - How? Because we would no longer be covering the many costs that DON'T get spent on medical care.


****

The math

$3.7 Trillion -- 2017 total expenditures for medical care (shared between patient, insurers, government and debt write offs.)
x 10
$37 Trillion x 3.44% inflation per year = @ $50 Trillion in 10 years.
Add in Insurer profits - paid in but never spent on care = $137 Billion Annually x 10 = 1.37 Trillion
Add in the uncompensated care written off by hospitals and and doctors = $226 Billion annually x 10 = 2.26 Trillion
Add in the costs of income taxes not paid due to medical care deductions by individuals = $182 Billion annually = 1.82 Trillion
Federal and state grants to hospitals and providers to help subsidize improvements in care = $1.7 Trillion annually = $17 Trillion

****

Again


Total cost of the status quo over the next 10 years =
50 + 1.3 + 2.2 +1.8+17 = $72.3 Trillion

Estimated cost of Medicare for All over next 10 years = $32 - 34 Trillion

HALF.


EDITING TO ADD THE LINKS

Unpaid taxes for medical expense deductions = $1.8 Trillion over 10 years
https://www.irs.gov/statistics

Uncompensated care in hospitals = $8.7 Trillion expected over next 10 years
Uncompensated care in doctor offices = $2.5 Trillion expected over next 10 years
https://www.aha.org/factsheet/2019-01-02-uncompensated-hospital-care-cost-fact-sheet-january-2019

Health insurer profits = $1.4 Trillion over 10 years (only the big 8 - not all of them)
money paid into the system but never spent on medical care and therefore not included in the fact sheets
https://www.fiercehealthcare.com/payer/big-eight-insurers-set-to-finish-strong-year-raking-132-4-billion-total-q3


Federal and state grants to hospitals / clinics = $1.7 Trillion
Current spending on Medicare and Medicaid
https://www.cms.gov/research-statistics-data-and-systems/statistics-trends-and-reports/nationalhealthexpenddata/nhe-fact-sheet

[Sherman A1]

1. Do you have any link or data for the basis of the $72 trillion?

I’m all for M4A just want to understand where the number is coming from.

[KentuckyWoman]

2. Good question and I should have added - OP is edited to add

[TexasBushwhacker]

3. Not to mention, our current system leaves millions uninsured

or underinsured. There's also the costs of people becoming disabled because of lack of medical care and people dying prematurely. Disabled people (living on SSDI) draw benefits and. don't pay taxes. The benefits to spouses and children of people who die young represent a cost as well. Everything counts.

[EmInColorado]

4. Here's the M4A calculator to see what you'd pay

https://www.mfacalc.com/

[Poiuyt]

5. One issue that needs to be rectified

Or maybe it has, but I haven't heard an explanation:

A significant cost would be employers cost of paying for their employees health insurance. If we get M4A, and the employers no longer need to pay for those insurance premiums, how could we ensure that the savings would be passed down to the workers? Or would the companies just pocket all the savings?

[airplaneman]

6. I have heard the idea is that employers pay 80% what they were paying into heath-care

goes directly to M4A instead - so it help them while funding the system.
-Airplane