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Even Libertarians Admit Medicare for All Would Save Trillions

02 August 2018

The findings are roughly in line with other efforts to estimate the costs of a universal health care system similar to Medicare. Bernie Sanders' single-payer plan would add trillions to government books, by placing all Americans on one government health insurer.

According to the authors of the study, these numbers are conservative estimates.

He said they'll need to convince the public that even though taxes will likely rise, nobody will have to pay premiums or out-of pocket costs. Fox News raised the alarms, warning that the "Democrats "Medicare for all" socialist scheme would run up a staggering tab for all taxpayers". "It was immediately embraced by right-wing politicians who are close to the Kochs, such as House Speaker Paul Ryan, who tweeted an article on the study with the message: "$32.6 trillion dollars. In the first year, the federal government would drop the Medicare eligibility age from 65 to 55 - a proposal also backed by many centrist Senate Democrats - as well as enrolling everyone now on Medicare and everyone younger than 18. "A doubling of all now projected federal individual and corporate income tax collections would be insufficient to finance the added federal costs of the plan", according to the study. "It is just absurd". "Bernie Sanders' Medicare for All Act projects outlandish increases in the utilization of medical care, ignores vast savings under single-payer reform, and fails to even mention the extensive and well-documented evidence on single-payer systems in other nations-which all spend far less per person on health care than we do", Himmelstein and Woolhandler said.

Under Sanders' plan, all United States residents would be covered with no copays or deductibles for medical services. We get to insure every single person in the country, virtually eliminate cost-sharing, and save everyone from the hell of constantly changing health insurance all while saving money. "But, $32.6 trillion in higher federal spending and taxes over 10 years, which sounds scary". "There is such a thing as a free lunch, per Mercatus".

Bernie Sander's proposed single-payer national healthcare program is projected to cost the federal government $32.6 trillion over the next 10 years, requiring historic tax increases.

Nevertheless, there are still plenty of questions about the Sanders plan's economic - and, in particular, political - feasibility, not least with respect to the assumptions about system-wide savings resulting from such a plan. Since February, Democrats have slowly and steadily expressed their support for the Vermont senator's stance on a better health care system for Americans. All those people seeing doctors and going to the hospital will drive up health spending over the years, but the legislation is created to offset those costs through lower provider payment rates, drug savings and administrative cost savings.

Levitt said Sanders's plan is a good illustration of what Medicare for all could accomplish in theory, but payment levels for providers hasn't really had a full debate yet. "It's not clear to what extent those savings are politically feasible, and socially beneficial".

"This grossly misleading and biased report is the Koch brothers response to the growing support in our country for a "Medicare for all" program", Sanders said.

After a study by the Koch Brothers-funded Mercatus Center that was clearly designed as a deceptive attack on Medicare for All inadvertently bolstered the economic case for single-payer-which is rapidly growing in popularity among the public and US lawmakers-Sen.

Even Libertarians Admit Medicare for All Would Save Trillions