What are the true costs of "Medicare for All"...

[healthmyths]

If we completely eliminate employer paid and private health insurance companies what will be THAT cost which doesn't seem to be added into the equation for people that favor "Medicare for All".

There were in 2017 907 health insurance companies.
There are in 2015 500,000 health insurance employees.

On average, employers paid 82 percent of the premium, or $5,655 a year. Employees paid the remaining 18 percent, or $1,241 a year.
What Percent of Health Insurance is Paid by Employers?

Most health insurance companies pay an effective tax rate higher than 30 percent. There are also a number of taxes and fees that are specific to health insurance products and – like all taxes and fees on insurers – are built into premiums.

The health insurance tax is one example. Current law imposes a tax on health insurance purchased by families and small businesses. Studies by Oliver Wyman have found that, due to this tax, small employers will pay $210 more per employee and families will pay an extra $530 per year, on average
Taxes, Fees, and Your Premiums - AHIP
Like all businesses, insurance companies are subject to federal, state, and local taxes.
So if these 907 pay the states a state premium tax...the most common percentage is 2.5%.

These companies also paid on $867 billion in premium revenue in 2017 based on what Aetna
paid in income taxes in 2017 of 2% gross revenue..
http://www.aetna.com/investors-aetna/assets/documents/2017/4q17-form-10k.pdf
2% income taxes on $867 billion is $18 billion a year..

So loss of $18 billion in federal tax income
Loss of $2.4 Billion of Medicare/SS taxes on 500,000 people average salary $40,000
Unemployment payments of $6.05 Billion on 500,000 of $450/week for 26 weeks.

So total cost of closing 907 companies: $27 billion a year!

 

[Penelope]

So what did insurance companies, the major ones pay into the Federal Tax, State Tax, and or Local Tax?

I bet the major ones got a refund.

Employers only started offering ins due to shortage of workers, and they write it off.


The ins. employees pay Fed, State and Local taxes so they would become state workers.

A lot of people are invested and have pensions that involve health ins companies is the only thing that would be affected.

 

[Dekster]

If we completely eliminate employer paid and private health insurance companies what will be THAT cost which doesn't seem to be added into the equation for people that favor "Medicare for All".

There were in 2017 907 health insurance companies.
There are in 2015 500,000 health insurance employees.

On average, employers paid 82 percent of the premium, or $5,655 a year. Employees paid the remaining 18 percent, or $1,241 a year.
What Percent of Health Insurance is Paid by Employers?

Most health insurance companies pay an effective tax rate higher than 30 percent. There are also a number of taxes and fees that are specific to health insurance products and – like all taxes and fees on insurers – are built into premiums.

The health insurance tax is one example. Current law imposes a tax on health insurance purchased by families and small businesses. Studies by Oliver Wyman have found that, due to this tax, small employers will pay $210 more per employee and families will pay an extra $530 per year, on average
Taxes, Fees, and Your Premiums - AHIP
Like all businesses, insurance companies are subject to federal, state, and local taxes.
So if these 907 pay the states a state premium tax...the most common percentage is 2.5%.

These companies also paid on $867 billion in premium revenue in 2017 based on what Aetna
paid in income taxes in 2017 of 2% gross revenue..
http://www.aetna.com/investors-aetna/assets/documents/2017/4q17-form-10k.pdf
2% income taxes on $867 billion is $18 billion a year..

So loss of $18 billion in federal tax income
Loss of $2.4 Billion of Medicare/SS taxes on 500,000 people average salary $40,000
Unemployment payments of $6.05 Billion on 500,000 of $450/week for 26 weeks.

So total cost of closing 907 companies: $27 billion a year!

So hire them to process medicare claims. The government hearts contractors.

 

[healthmyths]

If we completely eliminate employer paid and private health insurance companies what will be THAT cost which doesn't seem to be added into the equation for people that favor "Medicare for All".

There were in 2017 907 health insurance companies.
There are in 2015 500,000 health insurance employees.

On average, employers paid 82 percent of the premium, or $5,655 a year. Employees paid the remaining 18 percent, or $1,241 a year.
What Percent of Health Insurance is Paid by Employers?

Most health insurance companies pay an effective tax rate higher than 30 percent. There are also a number of taxes and fees that are specific to health insurance products and – like all taxes and fees on insurers – are built into premiums.

The health insurance tax is one example. Current law imposes a tax on health insurance purchased by families and small businesses. Studies by Oliver Wyman have found that, due to this tax, small employers will pay $210 more per employee and families will pay an extra $530 per year, on average
Taxes, Fees, and Your Premiums - AHIP
Like all businesses, insurance companies are subject to federal, state, and local taxes.
So if these 907 pay the states a state premium tax...the most common percentage is 2.5%.

These companies also paid on $867 billion in premium revenue in 2017 based on what Aetna
paid in income taxes in 2017 of 2% gross revenue..
http://www.aetna.com/investors-aetna/assets/documents/2017/4q17-form-10k.pdf
2% income taxes on $867 billion is $18 billion a year..

So loss of $18 billion in federal tax income
Loss of $2.4 Billion of Medicare/SS taxes on 500,000 people average salary $40,000
Unemployment payments of $6.05 Billion on 500,000 of $450/week for 26 weeks.

So total cost of closing 907 companies: $27 billion a year!

So hire them to process medicare claims. The government hearts contractors.

Well you don't seem to understand that Medicare right now PAYS no claims directly.
They have about 8 Medicare Administrative Contractors (MACs) that cover the entire USA.
(MACs) process ALL of the one billion Medicare claims submitted by over 1.569 million Medicare providers in a year.

 

[healthmyths]

So what did insurance companies, the major ones pay into the Federal Tax, State Tax, and or Local Tax?

I bet the major ones got a refund.

Employers only started offering ins due to shortage of workers, and they write it off.


The ins. employees pay Fed, State and Local taxes so they would become state workers.

A lot of people are invested and have pensions that involve health ins companies is the only thing that would be affected.

Yes, corporations do get refunds (in some cases this could be from carrying back an NOL). The goal, whether individual or corporation, should never be to get a refund; because of the time value of money, you never want the IRS to hold on to more of your money than necessary. You do good estimates and try to get as close to the actual tax due, but willingly paying in more isn't a good idea.
https://www.quora.com/Can-a-corporation-get-a-tax-refund?share=1

So do you again think major ones with responsibilities to stockholder WOULD be in the ignorant position of letting the IRS hold money and then return the money? Again this just shows your true ignorance of how money works.
NO respectable corporation officer would EVER have more money paid into the IRS than necessary.

Again you ignorance about business is really sad!

Employers only started offering ins due to shortage of workers, and they write it off.
And so YOU would have this insurance coverage be eliminated right?
160 million Americans are covered by employer insurance. The largest segment...larger than Medicare.
And so you want those people and their employers to lose this option.
Of the subtypes of health insurance, employment-based insurance covered the most people (55.4 percent of the population), followed by Medicaid (19.5 percent), Medicare (16.0 percent), direct-purchase (14.6 percent) and military health care (4.5 percent).
https://www.quora.com/What-percentage-of-Americans-are-covered-by-employer-provided-health-insurance

And you want that thrown away?

Finally HERE for the umpteenth time I'm attaching the FACTS that there never were 46 million uninsured!
Pure lie.

 

[Penelope]

So what did insurance companies, the major ones pay into the Federal Tax, State Tax, and or Local Tax?

I bet the major ones got a refund.

Employers only started offering ins due to shortage of workers, and they write it off.


The ins. employees pay Fed, State and Local taxes so they would become state workers.

A lot of people are invested and have pensions that involve health ins companies is the only thing that would be affected.

Yes, corporations do get refunds (in some cases this could be from carrying back an NOL). The goal, whether individual or corporation, should never be to get a refund; because of the time value of money, you never want the IRS to hold on to more of your money than necessary. You do good estimates and try to get as close to the actual tax due, but willingly paying in more isn't a good idea.
https://www.quora.com/Can-a-corporation-get-a-tax-refund?share=1

So do you again think major ones with responsibilities to stockholder WOULD be in the ignorant position of letting the IRS hold money and then return the money? Again this just shows your true ignorance of how money works.
NO respectable corporation officer would EVER have more money paid into the IRS than necessary.

Again you ignorance about business is really sad!

Employers only started offering ins due to shortage of workers, and they write it off.
And so YOU would have this insurance coverage be eliminated right?
160 million Americans are covered by employer insurance. The largest segment...larger than Medicare.
And so you want those people and their employers to lose this option.
Of the subtypes of health insurance, employment-based insurance covered the most people (55.4 percent of the population), followed by Medicaid (19.5 percent), Medicare (16.0 percent), direct-purchase (14.6 percent) and military health care (4.5 percent).
https://www.quora.com/What-percentage-of-Americans-are-covered-by-employer-provided-health-insurance

And you want that thrown away?

Finally HERE for the umpteenth time I'm attaching the FACTS that there never were 46 million uninsured!
Pure lie. View attachment 272149

Oh now you assuming the illegals will get health in.

Clue they already do , free clinics in Texas. Health Care for Undocumented Immigrants in Texas

It sure beats anything the GOP can come up with.

 

[healthmyths]

So what did insurance companies, the major ones pay into the Federal Tax, State Tax, and or Local Tax?

I bet the major ones got a refund.

Employers only started offering ins due to shortage of workers, and they write it off.


The ins. employees pay Fed, State and Local taxes so they would become state workers.

A lot of people are invested and have pensions that involve health ins companies is the only thing that would be affected.

Yes, corporations do get refunds (in some cases this could be from carrying back an NOL). The goal, whether individual or corporation, should never be to get a refund; because of the time value of money, you never want the IRS to hold on to more of your money than necessary. You do good estimates and try to get as close to the actual tax due, but willingly paying in more isn't a good idea.
https://www.quora.com/Can-a-corporation-get-a-tax-refund?share=1

So do you again think major ones with responsibilities to stockholder WOULD be in the ignorant position of letting the IRS hold money and then return the money? Again this just shows your true ignorance of how money works.
NO respectable corporation officer would EVER have more money paid into the IRS than necessary.

Again you ignorance about business is really sad!

Employers only started offering ins due to shortage of workers, and they write it off.
And so YOU would have this insurance coverage be eliminated right?
160 million Americans are covered by employer insurance. The largest segment...larger than Medicare.
And so you want those people and their employers to lose this option.
Of the subtypes of health insurance, employment-based insurance covered the most people (55.4 percent of the population), followed by Medicaid (19.5 percent), Medicare (16.0 percent), direct-purchase (14.6 percent) and military health care (4.5 percent).
https://www.quora.com/What-percentage-of-Americans-are-covered-by-employer-provided-health-insurance

And you want that thrown away?

Finally HERE for the umpteenth time I'm attaching the FACTS that there never were 46 million uninsured!
Pure lie. View attachment 272149

Oh now you assuming the illegals will get health in.

Clue they already do , free clinics in Texas. Health Care for Undocumented Immigrants in Texas

It sure beats anything the GOP can come up with.

There NEVER was a "health care crisis"! There never were 46 million uninsured and Obamacare's architect Proved it!
Again... Obama first of all counted 10 million ILLEGAL aliens... that leaves 36 million.
Proof there were 14 million Americans who DIDN"T know they qualified for Medicaid again before ACA... all because
Obama was stupid about healthcare.
That leaves 22 million since 14 million were COVERED by Medicaid!!!
18 million of 22 million are under age 34. Have employers' health insurance but didn't use it as their health expenses were
paid out of pocket.
That leave 4 million that are truly uninsured.
NOT ten times that i.e. 46 million.
If you weren't not only so stupid you don't know this, you also don't know that Obamacare said tanning salons should
pay 10% tax as tanning causes cancer.
So why didn't ACA have 10% tax against lawyers because of this reason!

 

[Likkmee]

Just put it in the bill . We'll talk after WW3

 

[healthmyths]

Just put it in the bill . We'll talk after WW3

I'm sure this is too much information, but that seems to be the problem with the 30 second attention span.
You make decisions without any basis of facts.
A) There never were 46 million uninsured.
B) Defensive medicine costs over $850 BILLION a year
But this is too complicated for most people...like you to comprehend!

 

[Missouri_Mike]

So what did insurance companies, the major ones pay into the Federal Tax, State Tax, and or Local Tax?

I bet the major ones got a refund.

Employers only started offering ins due to shortage of workers, and they write it off.


The ins. employees pay Fed, State and Local taxes so they would become state workers.

A lot of people are invested and have pensions that involve health ins companies is the only thing that would be affected.

Yes, corporations do get refunds (in some cases this could be from carrying back an NOL). The goal, whether individual or corporation, should never be to get a refund; because of the time value of money, you never want the IRS to hold on to more of your money than necessary. You do good estimates and try to get as close to the actual tax due, but willingly paying in more isn't a good idea.
https://www.quora.com/Can-a-corporation-get-a-tax-refund?share=1

So do you again think major ones with responsibilities to stockholder WOULD be in the ignorant position of letting the IRS hold money and then return the money? Again this just shows your true ignorance of how money works.
NO respectable corporation officer would EVER have more money paid into the IRS than necessary.

Again you ignorance about business is really sad!

Employers only started offering ins due to shortage of workers, and they write it off.
And so YOU would have this insurance coverage be eliminated right?
160 million Americans are covered by employer insurance. The largest segment...larger than Medicare.
And so you want those people and their employers to lose this option.
Of the subtypes of health insurance, employment-based insurance covered the most people (55.4 percent of the population), followed by Medicaid (19.5 percent), Medicare (16.0 percent), direct-purchase (14.6 percent) and military health care (4.5 percent).
https://www.quora.com/What-percentage-of-Americans-are-covered-by-employer-provided-health-insurance

And you want that thrown away?

Finally HERE for the umpteenth time I'm attaching the FACTS that there never were 46 million uninsured!
Pure lie. View attachment 272149

Oh now you assuming the illegals will get health in.

Clue they already do , free clinics in Texas. Health Care for Undocumented Immigrants in Texas

It sure beats anything the GOP can come up with.

So we're pretty much going to provide illegals healthcare according to you. They can cross the border like the old people do for meds you know.

 

[healthmyths]

So what did insurance companies, the major ones pay into the Federal Tax, State Tax, and or Local Tax?

I bet the major ones got a refund.

Employers only started offering ins due to shortage of workers, and they write it off.


The ins. employees pay Fed, State and Local taxes so they would become state workers.

A lot of people are invested and have pensions that involve health ins companies is the only thing that would be affected.

Yes, corporations do get refunds (in some cases this could be from carrying back an NOL). The goal, whether individual or corporation, should never be to get a refund; because of the time value of money, you never want the IRS to hold on to more of your money than necessary. You do good estimates and try to get as close to the actual tax due, but willingly paying in more isn't a good idea.
https://www.quora.com/Can-a-corporation-get-a-tax-refund?share=1

So do you again think major ones with responsibilities to stockholder WOULD be in the ignorant position of letting the IRS hold money and then return the money? Again this just shows your true ignorance of how money works.
NO respectable corporation officer would EVER have more money paid into the IRS than necessary.

Again you ignorance about business is really sad!

Employers only started offering ins due to shortage of workers, and they write it off.
And so YOU would have this insurance coverage be eliminated right?
160 million Americans are covered by employer insurance. The largest segment...larger than Medicare.
And so you want those people and their employers to lose this option.
Of the subtypes of health insurance, employment-based insurance covered the most people (55.4 percent of the population), followed by Medicaid (19.5 percent), Medicare (16.0 percent), direct-purchase (14.6 percent) and military health care (4.5 percent).
https://www.quora.com/What-percentage-of-Americans-are-covered-by-employer-provided-health-insurance

And you want that thrown away?

Finally HERE for the umpteenth time I'm attaching the FACTS that there never were 46 million uninsured!
Pure lie. View attachment 272149

Oh now you assuming the illegals will get health in.

Clue they already do , free clinics in Texas. Health Care for Undocumented Immigrants in Texas

It sure beats anything the GOP can come up with.

"Clue they already do , free clinics in Texas"

You and your ignorant fellows never heard of EMTALA have you?

Passed in 1986 by GOP... look it up and be surprised why hospitals costs have skyrocketed!

 

[BluesLegend]

Stupid shit liberals assume there's $100 trillion dollars being hoarded somewhere that will fund all their pie in the sky free shit. If they get their way most of the country will get screwed over and stuck with shit government healthcare. The 'rich' will have their own private high quality healthcare.

 

[g5000]

On average, employers paid 82 percent of the premium, or $5,655 a year. Employees paid the remaining 18 percent, or $1,241 a year.

Why did you not factor this into your equation? How many people are buying insurance through their employer? Multiply that times $7000, and that should go in the Savings column.

Also, the money your employer spends on health insurance for you is totally tax exempt. You didn't factor that current loss in, either.

Basically, your math sucks.

 

[g5000]

Health Insurance Coverage Eight Years After the ACA — 2018 Biennial | Commonwealth Fund

More than half of Americans under age 65 — about 158 million people — get their health insurance through an employer

That's $1.1 trillion dollars a year currently being spent on health insurance through employers! All that spending by employers and employees would go away under Bernie Sanders's plan.

At least 82 percent of that is currently tax exempted. That's revenue not coming into the treasury right now.

 

[Dekster]

If we completely eliminate employer paid and private health insurance companies what will be THAT cost which doesn't seem to be added into the equation for people that favor "Medicare for All".

There were in 2017 907 health insurance companies.
There are in 2015 500,000 health insurance employees.

On average, employers paid 82 percent of the premium, or $5,655 a year. Employees paid the remaining 18 percent, or $1,241 a year.
What Percent of Health Insurance is Paid by Employers?

Most health insurance companies pay an effective tax rate higher than 30 percent. There are also a number of taxes and fees that are specific to health insurance products and – like all taxes and fees on insurers – are built into premiums.

The health insurance tax is one example. Current law imposes a tax on health insurance purchased by families and small businesses. Studies by Oliver Wyman have found that, due to this tax, small employers will pay $210 more per employee and families will pay an extra $530 per year, on average
Taxes, Fees, and Your Premiums - AHIP
Like all businesses, insurance companies are subject to federal, state, and local taxes.
So if these 907 pay the states a state premium tax...the most common percentage is 2.5%.

These companies also paid on $867 billion in premium revenue in 2017 based on what Aetna
paid in income taxes in 2017 of 2% gross revenue..
http://www.aetna.com/investors-aetna/assets/documents/2017/4q17-form-10k.pdf
2% income taxes on $867 billion is $18 billion a year..

So loss of $18 billion in federal tax income
Loss of $2.4 Billion of Medicare/SS taxes on 500,000 people average salary $40,000
Unemployment payments of $6.05 Billion on 500,000 of $450/week for 26 weeks.

So total cost of closing 907 companies: $27 billion a year!

So hire them to process medicare claims. The government hearts contractors.

Well you don't seem to understand that Medicare right now PAYS no claims directly.
They have about 8 Medicare Administrative Contractors (MACs) that cover the entire USA.
(MACs) process ALL of the one billion Medicare claims submitted by over 1.569 million Medicare providers in a year.

If I didn't understand it, why would I have said the government hearts contractors?

And there are 12 A/B MAC's

 

[BluesLegend]

Health Insurance Coverage Eight Years After the ACA — 2018 Biennial | Commonwealth Fund

More than half of Americans under age 65 — about 158 million people — get their health insurance through an employer

That's $1.1 trillion dollars a year currently being spent on health insurance through employers! All that spending by employers and employees would go away under Bernie Sanders's plan.

At least 82 percent of that is currently tax exempted. That's revenue not coming into the treasury right now.

Moochers can get a job and pay for their own damn healthcare. Illegals can go back to where they came from. There problem solved.

 

[healthmyths]

If we completely eliminate employer paid and private health insurance companies what will be THAT cost which doesn't seem to be added into the equation for people that favor "Medicare for All".

There were in 2017 907 health insurance companies.
There are in 2015 500,000 health insurance employees.

On average, employers paid 82 percent of the premium, or $5,655 a year. Employees paid the remaining 18 percent, or $1,241 a year.
What Percent of Health Insurance is Paid by Employers?

Most health insurance companies pay an effective tax rate higher than 30 percent. There are also a number of taxes and fees that are specific to health insurance products and – like all taxes and fees on insurers – are built into premiums.

The health insurance tax is one example. Current law imposes a tax on health insurance purchased by families and small businesses. Studies by Oliver Wyman have found that, due to this tax, small employers will pay $210 more per employee and families will pay an extra $530 per year, on average
Taxes, Fees, and Your Premiums - AHIP
Like all businesses, insurance companies are subject to federal, state, and local taxes.
So if these 907 pay the states a state premium tax...the most common percentage is 2.5%.

These companies also paid on $867 billion in premium revenue in 2017 based on what Aetna
paid in income taxes in 2017 of 2% gross revenue..
http://www.aetna.com/investors-aetna/assets/documents/2017/4q17-form-10k.pdf
2% income taxes on $867 billion is $18 billion a year..

So loss of $18 billion in federal tax income
Loss of $2.4 Billion of Medicare/SS taxes on 500,000 people average salary $40,000
Unemployment payments of $6.05 Billion on 500,000 of $450/week for 26 weeks.

So total cost of closing 907 companies: $27 billion a year!

So hire them to process medicare claims. The government hearts contractors.

Well you don't seem to understand that Medicare right now PAYS no claims directly.
They have about 8 Medicare Administrative Contractors (MACs) that cover the entire USA.
(MACs) process ALL of the one billion Medicare claims submitted by over 1.569 million Medicare providers in a year.

If I didn't understand it, why would I have said the government hearts contractors?

And there are 12 A/B MAC's

Please count these MACs.. 7 MACs and one MAC that processes the 4 DME MACs claims...
CEDI...
.
MAC Name
CGS - First Coast - National Government Services - Noridian - Novitas - Palmetto - WPS
MAC Website List - Centers for Medicare & Medicaid Services