Power of Story Send a Tweet        
- Advertisement -

Share on Google Plus Share on Twitter Share on Facebook 1 Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend (1 Shares)  

Printer Friendly Page Save As Favorite View Favorites (# of views)   1 comment
OpEdNews Op Eds

Medicare for all: more for less

By       Message dale ruff       (Page 1 of 1 pages)     Permalink

Related Topic(s): ; ; ; ; ; ; ; ; ; ; (more...) , Add Tags  (less...)  Add to My Group(s)

Must Read 1   Well Said 1   Supported 1  
View Ratings | Rate It

opednews.com Headlined to H4 2/11/16

Author 95661
- Advertisement -

Bernie Sanders asked Professor Friedman, a University of Massachusetts Amherst economics professo., to estimate the cost of Sanders' Medicare-for-all plan -- which came out to $13.8 trillion over 10 years. This totally aligns with my analysis. Here's the math.

Currently, Medicare and Medicaid cost 23% of the budget, or about 800 billion, and ER care for the uninsured costs 168 billion (source: American Association of Emergency Physicians); the overhead costs for everyone else insured is 450 billion (at 15% overhead) for private insurers: that totals a little over 1.4 trillion,and subtracting the 50 billion for Medicare overhead (1.3% overhead), we arrive at just about what Professor Friedman arrived at. We can insure 100% for the same costs now being spent, which is like getting 30 million insured at no cost, by cutting out the parasitic middle man and eliminating the ER last resort services for the uninsured.
- Advertisement -
Now, that suggests that we can insure everyone without spending an extra dime. The cost insuring those 30 million uninsured currently. using the existing system would cost an extra 150 billion. We can save that money by using Medicare for All. Another 300 billion a year can be saved, according to Professor Friedman, by eliminating tax breaks for health insurance premiums each year. That 300 billion could expand Medicare to 100% coverage plus vision and dental.
Another 75 billion would be saved ($1300 per Medicare client) by ending the current $105 a month Medicare payments. Plus, many seniors pay another
$120-200 a month for the 20% coverage Medicare currently does not cover---a gift within Medicare to the private insurers.
- Advertisement -
Conclusion: Medicare for all would expand coverage to all at 100% including dental/vision with a likely surplus. The only losers would be the parasitic private insurance industry, which continue to provide private insurance for those willing to pay price, as is the case in Germany and the UK, where the private market is about 10%.
Even doctors and hospitals would save money by having to deal only with one single payer thus eliminating a mountain of paperwork.
By what logic does it make sense to pay more for less?
- Advertisement -


- Advertisement -

Must Read 1   Well Said 1   Supported 1  
View Ratings | Rate It


retired, working radical egalitarian/libertarian socialist old school independent, vegan, survivor

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon Share Author on Social Media   Go To Commenting

The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact EditorContact Editor
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Trump Leading 67% to Hillary's 19% in National Poll of 50,000

How Sanders/Stein can win the Presidency: and it's incubating now!

Women's March costs Soros (or is it the CIA?) over half a billion today alone!

The Trump Secret to Wealth: slave labor/ no taxes/ propaganda.

The Enemy IS the People: Critics should shut up and be fired

Politics as Psychopathology: Trump's Attention Deficit, Oppositional, and Sleep Disorder