Medicare for All could save the country $5.1 trillion over ten years [View all]

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Medicare for All could save the country $5.1 trillion over ten years
"Based on 2017 U.S. healthcare expenditure figures, the cumulative savings for the first decade operating under Medicare for All would be $5.1 trillion."
Alexandra Jacobo / NationofChange / News Report - December 1, 2018

According to a new study by economists for the University of Massachusetts Political Economy Research Institute (PERI), Medicare for All is not only economically viable, but it could save the United States trillions of dollars.

The new study, released Friday at the Sanders Institute Gathering, outlines seven major aspects of transforming the U.S. health care system along with detailed instructions on how to move us to true universal health care. The report then details universal health care’s impact on individuals, families, businesses and government.

The biggest question about Medicare for All has long been “How do we pay for it?” Well according to Robert Pollin, economics professor at the University of Massachusetts Amherst and lead author of the paper, “It’s easy to pay for something that costs less.”

The 200 page paper analyzes Senator Bernie Sanders’ Medicare for All Act of 2017 and finds “based on 2017 U.S. healthcare expenditure figures, the cumulative savings for the first decade operating under Medicare for All would be $5.1 trillion, equal to 2.1 percent of cumulative GDP, without accounting for broader macroeconomic benefits such as increased productivity, greater income equality, and net job creation through lower operating costs for small- and medium-sized businesses.”

https://www.nationofchange.org/2018/12/01/medicare-for-all-could-save-the-country-5-1-trillion-over-ten-years/