Universal Single Payer Health Care Coverage: An Economic Stimulus Plan - by Stephen Lendman
The Institute for Health & Socio-Economic Policy (IHSP) is "non-profit policy and research group and is the exclusive research arm of the California Nurses Association/National Nurses Organizing Committee, (focusing on) current political/economic policy analysis in health care and other Industries....to enhance, promote and defend the quality of life for all."
In January, it released a "First-of-Its Kind Study" titled, "Single Payer/Medicare for All: An Economic Stimulus Plan for the Nation" to reform the system by providing universal care, adding productive new jobs, billions in public and private revenues, billions more in employee compensation, and added tax revenues. More on that below.
IHSP calls its study an "econometric," not an "arithmetical" health care system analysis, covering both their costs and economic benefits to the nation. Its methodology drew on:
"widely-used and accessible data bases and econometric models which are capable of showing how changes in one economic variable (such as health demand, pricing of services, or taxation of consumers and employers) will affect not only the health care sectors directly, but also their suppliers....their employees and their households, and the generation of federal, state, and local taxes."
Elements of its comprehensive coverage include:
-- universal eligibility; everybody in, no one excluded;
-- everyone under a uniform single standard similar to Medicare Parts A, B, and D; and
-- all enrollees having "the same health services, costs, eligibility requirements, and administrative cost burden.
These occur when providers buy services or supplies to deliver care:
-- in America, $2.1 trillion in expenditures generates an additional $1.37 trillion in indirect transactions;
-- manufacturing with $307.6 billion benefits most; and
-- in 2006, health care totaled 9.2% of GDP.
These are health care worker household consumption transactions, and the indirect sector spending their income: