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Study: Medicare-for-All would save $2.4 trillion over 10 years.
https://thinkprogress.org/mercatis-medicare-for-all-study-0a8681353316/Research by the Mercatus Center at George Mason University — a libertarian think tank backed by the Koch brothers — projected that the Medicare for All plan championed by Sen. Bernie Sanders (I-VT) would cost the government $32.6 trillion over 10 years. The highly critical report found that even doubling all federal individual and corporate income taxes would not cover the costs of Sanders’ Medicare for All plan.
The study did conclude, however, that Medicare for All would result in significant savings for the government because of lower prescription drug costs, saving $846 billion over the next decade. Streamlined administrative costs under the plan would save another $1.6 trillion, the researchers at the Mercatus Center found.
...
That means that over the next decade, the U.S. is projected to spend more than $33 trillion, plus inflation, on health care services without any changes to our current health care system, significantly more than Mercatus’s estimated $32.6 trillion cost to the federal government over the next ten years.
Sanders’ proposed single-payer plan would be free at the point of service, and would not include any cost-sharing — that is, no co-pays or premiums. Under his plan, taxes would replace those often high costs, which currently are shouldered by patients.
The study did conclude, however, that Medicare for All would result in significant savings for the government because of lower prescription drug costs, saving $846 billion over the next decade. Streamlined administrative costs under the plan would save another $1.6 trillion, the researchers at the Mercatus Center found.
...
That means that over the next decade, the U.S. is projected to spend more than $33 trillion, plus inflation, on health care services without any changes to our current health care system, significantly more than Mercatus’s estimated $32.6 trillion cost to the federal government over the next ten years.
Sanders’ proposed single-payer plan would be free at the point of service, and would not include any cost-sharing — that is, no co-pays or premiums. Under his plan, taxes would replace those often high costs, which currently are shouldered by patients.
Instead of paying directly for healthcare, you pay for it indirectly via taxes.
And it will cost you less.