Koch-backed study finds 'Medicare for All' would save U.S. trillions

[turbinetree]

An estimated cost of $32.6 trillion over 10 years is less than the US would spend over the next 10 years under the current system.
ADDY BAIRD
JUL 30, 2018, 1:56 PM

A single-payer Medicare for All system would reduce the amount the U.S. spends on health care by more than $2 trillion, a Koch brothers-funded study released Monday found.

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.

When we talk about a Medicare for All system, it’s important to discuss the costs in the context of what the U.S. already spends on health care. As of 2016, national health expenditures — which includes federal spending, state Medicaid programs, and private employer health care spending — totaled $3.3 trillion per year, according to the Centers for Medicare and Medicaid Services.

https://thinkprogress.org/mercatis-medicare-for-all-study-0a8681353316/

[lapfog_1]

1. so 32.6 T over 10 years

is $849 a month for every man, woman, and child here in the US (assuming current population growth numbers, etc)

Even with an aging boomer population... this number seems high to me.

That's $102,000 for every person for the 10 years.

[turbinetree]

2. If I read this correctly yes, we , you and me would save this much

I presently spend with all my prescriptions drug plan $29.50 a month and then I have which is mandatory taken out of my SS $135.00 per month for Medicare. Under a for profit plan I was spending on average per year over $6,000.00 for a employer based plan being taken out on a bi weekly, which came to about $230.00.............I could have used that extra $325.00 or so dollars to spend on the economy, or put into my savings......................etc...............