Republicans (& Even Some Dems) Trying To Scare You Away From Medicare For All Are Peddling Rubbish
'Republicans (and Even Some Democrats) Trying to Scare You Away From Medicare for All Are Peddling Rubbish.' We shouldn't be paying private for-profit corporate insurers boatloads of money to get the coverage we could have for much less. By Robert Reich, Common Dreams, Nov. 20, 2019.
Republicans and even some Democrats are out to scare you about Medicare for All. They say its going to dismantle health care as we know it and it will cost way too much. Rubbish. The typical American family now spends $6,000 on health insurance premiums each year. Add in the co-payments and deductibles that doctors, hospitals, and drug companies also charge youplus typical out-of-pocket expenses for pharmaceuticalsand that typical familys health bill is $6,800.
But thats not all, because some of the taxes you now pay are for health insurance, toofor Medicare and Medicaid and for the Affordable Care Act. So lets add them in, again for the typical American household. That comes to a whopping $8,975 a year. Oh, and this number is expected to rise in the coming years.
Not a pretty picture. If youre a typical American, youre already paying far more for health insurance than people in any other advanced country. And youre not getting your moneys worth. The United States ranks near the bottom for life span and infant mortality. Or maybe youre one of the 30 million Americans who dont have any health insurance coverage at all.
You see, a big reason we pay so much for health insurance is the administrative costs involved in private for-profit insurance. About a third of what you pay goes to the people who oversee billing and collections. And then of course there are the marketing and advertising expenses, and the profits that go to shareholders or private-equity managers.
What happens if we have Medicare for All? Lets first consider a limited version that keeps private insuranceas proposed by candidates including Joe Biden, Pete Buttigieg, and Kamala Harris. The insurance costs remain the same because its the same private insurers and the same co-payments and deductibles. The only difference is more of this would be paid through your taxes, rather than by you directly, because the government would reimburse the insurance companies. This could help bring down costs by giving the government more bargaining leverage to get better prices. But we dont know yet how much.
Now, lets talk about a different version of Medicare for All that replaces private for-profit health insurance, as proposed by Bernie Sanders and Elizabeth Warren. In this version, total costsincluding a possible combination of premiums, co-payments, deductibles, or taxesare even lower. This option is far cheaper because it doesnt have all those administrative expenses. Its public insurance that reimburses hospitals, doctors, and pharmaceutical companies directly and eliminates the bloat of private insurance companies.
Economists at the University of Massachusetts-Amherst say Medicare for All that replaces private for-profit insurance would reduce costs by about 10 percent, mostly from lower administrative and drug costs. The Urban Institute estimates that households and businesses would save about $21.9 trillion over ten years, and state and local governments would save $4.1 trillion.
Youd pay for it through a combination of premiums, fees, and taxes, but your overall costs would go way down. So youd come out ahead. And everyone would be covered. Youd keep your same doctor or other health-care provider. And you could still buy private insurance to supplement Medicare for All...
More, https://www.commondreams.org/views/2019/11/20/republicans-and-even-some-democrats-trying-scare-you-away-medicare-all-are-peddling
*WATCH.* The US ranks near the bottom for life span and infant mortalityall while paying more per capita than nearly every other nation. Or maybe youre one of the 30 million Americans who dont have any health insurance coverage at all.
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(8,607 posts)appalachiablue
(41,182 posts)Gumboot
(531 posts)Robert Reich deserves a place in our next administration!