Reply #23: Here's how a Single Payer Medicare system can be funded. [View All]

[avaistheone1]

Estimated Cost:
PNHP asserts that their plan would save enough administrative costs (more than $350 billion per year) to offset the cost of high-quality universal coverage.

Payment Scheme:
The plan would be funded by taxes and an increase in public health funding. Public funds already funneled to Medicare and Medicaid would be retained.

The gap between current public funding and what would be needed for a universal care would be financed by a payroll tax on employers (about 7%) and an income tax on individuals (about 2%). The payroll tax on employers would replace all other employer expenses for employees' health care. The income tax on individuals would take the place of all current insurance premiums, co-pays, deductibles, and other out-of-pocket payments.

http://www.reformplans.com/Plan-Briefs/Physicians-for-a-National-Health-Plan-PNHP.html


Look the solution can be quite simple, elegant and work too.