Single-Payer Reality Check (Brief)

Estimated cost of single payer (Medicare for all) 3 trillion per year. (As a point of reference, the federal government spent less than $4 trillion in 2016, and ran a deficit of $587 billion, even after the Obama tax increases “on the rich.” Where would that ocean of necessary cash come from? ) No, private health insurance companies “big profits” are not the problem (In 2009, Forbes ranked health insurance as the 35th most profitable industry, with an anemic 2.2 percent return on revenue. The pharmaceutical industry was in third place, with a 19.9 percent return, and the medical products and equipment industry was right behind it, with a 16.3 percent return) No, the government is not more efficient (Forty percent of U.S. healthcare spending — more than $1 trillion per year — produces no care) No, it will not provide better access (the government has only one method to control costs: medical rationing. It cuts reimbursement schedules to providers, limits payments to institutions, and denies authorization for expensive treatments) redistributing US wealth does not add to our nations value in any way and it most certainly does not solve the “health care” problem.

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