Improved Medicare Single Payer Insurance = 2.6 million new jobs

[merrill]

I’m not saying that single-payer Medicare for All is the only answer to America’s jobs crisis, but it certainly could contribute to a much improved employment picture for businesses.

Here are a few salient numbers that help make the case, as compiled by the Business Coalition for Single Payer Healthcare. Under Medicare for All [HR. 676], businesses would:

* Eliminate health care benefits and reduce their labor costs by 10 – 12 %
* Cut workers’ compensation by up to 50%
* Become more competitive with foreign products
* Eliminate health care benefits management costs and related labor negotiations
* Free up worker income to buy new products and services, thereby improving the economy

In addition, in a 2009 study, researchers at the California Nurses Association concluded that Medicare for All would be both a job creator and an economic stimulus:

Overall, expanding and upgrading Medicare to cover all Americans (single-payer) would create 2.6 million new jobs at an average salary of $38, 262 per year, [paralleling almost exactly the total job loss in 2008], infuse $317 billion in new business and public revenues, and inject another $100 billion in wages into the U.S. economy.


Single payer, job creator | Occasional Planet

 

[merrill]

The education industry could begin hiring more staff due the new low cost approach to medical insurance.

 

[Lakhota]

Makes sense.