Will Save Americans $450 Billion and Prevent 68,000 Unnecessary Deaths Every Year : Economics

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The benefits of the Medicare for All single-payer health insurance program:Healthcare would cost $0 at the point of service.$450 billion would be saved annually in national healthcare expenditures.68,000+ unnecessary deaths would be prevented every year.78 million people would no longer be uninsured or underinsured.500,000 would no longer file for medical bankruptcy every year.Every single American would have comprehensive, high-quality health insurance coverage (Medical, dental, vision, hearing, and long-term care 100% covered).There would be no more private healthcare: premiums, deductibles, copays, and out-of-pocket expenses.Having health insurance would no longer be tied to having a job.$11 trillion in out-of-pocket healthcare expenses will be put back in the pockets of Americans over the next 10 years.95% of Americans will save money with the implementation of single-payer.From 2019-2028, we’re projected to spend $52 trillion on healthcare. The federal government is already projected to account for around $20 trillion of that $52 trillion in spending from 2019-2028. This means single-payer would require $32 trillion in new taxes or spending cuts over the next 10 years to be fully funded. Below I outline where we can cut $7.5 trillion in healthcare spending, redirect $6.1 trillion in current healthcare spending, and raise $18.4 trillion in new taxes to finance the program over the next 10 years.Here’s how to finance Medicare for All:Spending cuts:$2.9 trillion saved by paying hospitals 110% of current Medicare rates and making more payment reforms outlined in the Warren plan.$1.8 trillion less in spending by mandating 2.3% administrative costs.$1.7 trillion saved from prescription drug reform (net savings come from a target of 70% below current Medicare prices for brand name prescription drugs and a net 30% reduction in Medicare prices for generic).$1.1 trillion less in spending due to single-payer having the ability to reduce medical cost growth rates overtime.Redirected spending:New taxes:$8.8 trillion raised by taxing employers 98% of what they pay for healthcare now.$4.35 trillion raised from the progressive wealth tax outlined in the Sanders plan.$3 trillion raised from reversing Trump’s corporate tax cuts and closing major corporate tax loopholes.$2.3 trillion raised by implementing measures that lower the IRS tax collection gap from 15% to 10%.Sources:https://assets.ctfassets.net/4ubxbgy9463z/2Tg9oB55ICu2vtYBaKKcVr/d124e0eeb128ad3a8d8ab8a6ccae44c0/20191031_Medicare_for_All_Cost_Letter___Appendices_FINAL.pdf*{display:inline-block;vertical-align:middle}.t9oUK2WY0d28lhLAh3N5q{margin-top:-23px}._2KqgQ5WzoQRJqjjoznu22o{display:inline-block;-ms-flex-negative:0;flex-shrink:0;position:relative}._2D7eYuDY6cYGtybECmsxvE{-ms-flex:1 1 auto;flex:1 1 auto;overflow:hidden;text-overflow:ellipsis}._2D7eYuDY6cYGtybECmsxvE:hover{text-decoration:underline}._19bCWnxeTjqzBElWZfIlJb{font-size:16px;font-weight:500;line-height:20px;display:inline-block}._2TC7AdkcuxFIFKRO_VWis8{margin-left:10px;margin-top:30px}._2TC7AdkcuxFIFKRO_VWis8._35WVFxUni5zeFkPk7O4iiB{margin-top:35px}._7kAMkb9SAVF8xJ3L53gcW{display:-ms-flexbox;display:flex;margin-bottom:8px}._7kAMkb9SAVF8xJ3L53gcW>*{-ms-flex:auto;flex:auto}._1LAmcxBaaqShJsi8RNT-Vp{padding:0 2px 0 4px;vertical-align:middle}.nEdqRRzLEN43xauwtgTmj{padding-right:4px}._3_HlHJ56dAfStT19Jgl1bF{padding-left:16px;padding-right:4px}._2QZ7T4uAFMs_N83BZcN-Em{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:18px;display:-ms-flexbox;display:flex;-ms-flex-flow:row nowrap;flex-flow:row nowrap}._19sQCxYe2NApNbYNX5P5-L{cursor:default;height:16px;margin-right:8px;width:16px}._3XFx6CfPlg-4Usgxm0gK8R{font-size:16px;font-weight:500;line-height:20px}._34InTQ51PAhJivuc_InKjJ{color:var(–newCommunityTheme-actionIcon)}._29_mu5qI8E1fq6Uq5koje8{font-size:12px;font-weight:500;line-height:16px;display:inline-block;word-break:break-word}._2BY2-wxSbNFYqAy98jWyTC{margin-top:10px}._3sGbDVmLJd_8OV8Kfl7dVv{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:21px;margin-top:8px;word-wrap:break-word}._1qiHDKK74j6hUNxM0p9ZIp{margin-top:12px}._1eMniuqQCoYf3kOpyx83Jj{display:block;width:100%;margin-bottom:8px}._326PJFFRv8chYfOlaEYmGt,.Jy6FIGP1NvWbVjQZN7FHA{display:block;width:100%;font-size:14px;font-weight:700;letter-spacing:.5px;line-height:32px;text-transform:uppercase;padding:0 16px}.Jy6FIGP1NvWbVjQZN7FHA{margin-top:11px}._1cDoUuVvel5B1n5wa3K507{display:block;padding:0 16px;width:100%;font-size:14px;font-weight:700;letter-spacing:.5px;line-height:32px;text-transform:uppercase;margin-top:11px;text-transform:unset}._2_w8DCFR-DCxgxlP1SGNq5{margin-right:4px;vertical-align:middle}._1aS-wQ7rpbcxKT0d5kjrbh{border-radius:4px;display:inline-block;padding:4px}._2cn386lOe1A_DTmBUA-qSM{border-top:1px solid var(–newCommunityTheme-widgetColors-lineColor);margin-top:10px}._2Zdkj7cQEO3zSGHGK2XnZv{display:inline-block}.wzFxUZxKK8HkWiEhs0tyE{font-size:12px;font-weight:700;line-height:16px;color:var(–newCommunityTheme-button);cursor:pointer;text-align:left;margin-top:2px}._3R24jLERJTaoRbM_vYd9v0._3R24jLERJTaoRbM_vYd9v0._3R24jLERJTaoRbM_vYd9v0{display:none}._38lwnrIpIyqxDfAF1iwhcV{background-color:var(–newRedditTheme-line);border:none;height:1px;margin:16px 0}.yobE-ux_T1smVDcFMMKFv{font-size:16px;font-weight:500;line-height:20px}._2DVpJZAGplELzFy4mB0epQ{margin-top:8px}._2DVpJZAGplELzFy4mB0epQ .x1f6lYW8eQcUFu0VIPZzb{color:inherit}._2DVpJZAGplELzFy4mB0epQ svg.LTiNLdCS1ZPRx9wBlY2rD{fill:inherit;padding-right:8px}._2DVpJZAGplELzFy4mB0epQ ._18e78ihYD3tNypPhtYISq3{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:18px;color:inherit}

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