‘Medicare for All’ would cover everyone, save billions in first year: new study

Discussion in 'Healthcare/Insurance/Govt Healthcare' started by Synthaholic, Aug 5, 2013.

  1. Synthaholic
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    Synthaholic Platinum Member

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    ‘Medicare for All’ would cover everyone, save billions in first year: new study

    Economist says Canadian-style, single-payer health plan would reap huge savings from reduced paperwork and from negotiated drug prices, enough to pay for quality coverage for all – at less cost to families and businesses



    Upgrading the nation’s Medicare program and expanding it to cover people of all ages would yield more than a half-trillion dollars in efficiency savings in its first year of operation, enough to pay for high-quality, comprehensive health benefits for all residents of the United States at a lower cost to most individuals, families and businesses.


    That’s the chief finding of a new fiscal study by Gerald Friedman, a professor of economics at the University of Massachusetts, Amherst. There would even be money left over to help pay down the national debt, he said.


    Friedman says his analysis shows that a nonprofit single-payer system based on the principles of the Expanded and Improved Medicare for All Act, H.R. 676, introduced by Rep. John Conyers Jr., D-Mich., and co-sponsored by 45 other lawmakers, would save an estimated $592 billion in 2014. That would be more than enough to cover all 44 million people the government estimates will be uninsured in that year and to upgrade benefits for everyone else.


    “No other plan can achieve this magnitude of savings on health care,” Friedman said.


    His findings were released this morning [Wednesday, July 31, 11 a.m. EDT] at a congressional briefing in the Cannon House Office Building hosted by Public Citizen and Physicians for a National Health Program, followed by a 1 p.m. news conference with Rep. Conyers and others in observance of Medicare’s 48th anniversary at the House Triangle near the Capitol steps. A copy of Friedman’s full report, with tables and charts, is available here.


    Friedman said the savings would come from slashing the administrative waste associated with today’s private health insurance industry ($476 billion) and using the new, public system’s bargaining muscle to negotiate pharmaceutical drug prices down to European levels ($116 billion).


    “These savings would be more than enough to fund $343 billion in improvements to our health system, including the achievement of truly universal coverage, improved benefits, and the elimination of premiums, co-payments and deductibles, which are major barriers to people seeking care,” he said.




    *snip*
     
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  2. S.J.
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    S.J. Platinum Member

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    So why did everyone who was instrumental in passing Obamacare exempt themselves from it?
     
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  3. C_Clayton_Jones
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    C_Clayton_Jones Diamond Member

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    Someday, sooner, we can all hope, rather than later, America will find the sanity and courage to implement a single payer system.
     
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  4. Katzndogz
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    Katzndogz Diamond Member

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    We will have single payer as soon as people decide they don't want any medical care at all.

    Go back to witch doctors.
     
  5. Quantum Windbag
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    Quantum Windbag Gold Member

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    You found a study that agrees with you, classic confirmation bias.
     
  6. Synthaholic
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    Synthaholic Platinum Member

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    Reality has a strong Liberal bias.
     
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  7. lynn63
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    lynn63 Member

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    I agree that medicare should cover everyone as it would take the investors out of the picture and eliminate the health insurance companies.
     
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  8. Quantum Windbag
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    Quantum Windbag Gold Member

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    Yes, that would be the sane course, if we ignore the reality that every single country that has a single payer system is moving away form it because of the ballooning costs and substandard care.
     
  9. Quantum Windbag
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    Quantum Windbag Gold Member

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    Only an idiot would say that.
     
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  10. peach174
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    peach174 Gold Member Gold Supporting Member Supporting Member

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    So you want another unfunded failed social program?

    Medicare can't cover the ones already in it, let alone more people being added.
    Medicare Faces Unfunded Liability of $38.6T, or $328,404 for Each U.S. Household | CNS News

    This is from last year, it has gone up since that report.
    Where are each and every American household going to get 328,404.00 and this would become higher if we add millions of more people.
    No one has that amount of money, which is why it is called unfunded mandates.

    Why would you want Government to have anything to do with Health Care?
    Each and every Government run Health Care System, causes rationed care, long waits for appointments, scarce diagnostic equipment and long waits for the procedure.

    It's inhumane to have people in pain, to force them have to wait so long for anything to be done for them.
     
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    Last edited: Aug 6, 2013

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