Single Payer Healthcare - Effect on Medical Industry

[XenaLives]

New Report: It’s Actually Easy to Pay for Medicare for All


A new report from Gerald Friedman PhD, a professor of economics at the University of Massachusetts Amherst and the Director of the Hopbrook Institute, has found that Medicare for All could save anywhere from $5.5 to $12.5 trillion over the next 10 years, saving us 12-25% when compared to our current healthcare spending.

Even better, it would significantly reduce the expenses of American businesses and workers.

You can read the full report here, and I encourage you to watch the video that summarizes it below, but let’s run through a few of the basics.

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No matter how you slice it, business, workers, and patients will be paying less.

With estimates as low as 8.4% of payroll, new taxes on employers would be significantly lower than what they currently pay for commercial insurance. Businesses will be able to invest in raising wages, new jobs, new technologies, or staying competitive in the global market.

Workers will see their take home pay increase, as their portion of premium costs would be significantly reduced, and they’d no longer have to pay out of pocket costs to access health care.

Most importantly, we’ll all have access to healthcare, and no one would ever be afraid of being one serious illness away from bankruptcy.

Link to full article:
https://businessinitiative.org/new-report-its-actually-easy-to-pay-for-medicare-for-all/


Video: