Weekend Economists Stamp Out Ignorance December 27-29, 2013

[Demeter]

8. Vermont Approves Single-Payer Health Care: "Everybody In, Nobody Out"

http://truth-out.org/news/item/20495-vermont-approves-single-payer-health-care-everybody-in-nobody-out

... There is yet another provision in the Affordable Care Act that can open the door for states to institute their own single-payer healthcare system. Other states have a public option, especially for those below a certain income level, but no state had instituted a true single-payer system. All of this has changed thanks to President Obama and the Affordable Care Act.

Vermont—Home of Ben and Jerry’s, Maple Syrup, Bernie Sanders and the first state to pass marriage equality. Now, Vermont will be known for something that will impact every resident in the state.

The ACA provided states with federal funds to institute a Medicaid expansion. The states chose to expand the program also were able to set up their own state exchanges, which were relatively free from the problems the federal site had. Vermont decided to take it a step further by setting up their very own single payer system.

The slogan of the program: Everybody in, nobody out...The program will be fully operational by 2017, and will be funded through Medicare, Medicaid, federal money for the ACA given to Vermont, and a slight increase in taxes. In exchange, there will be no more premiums, deductibles, copay’s, hospital bills or anything else aimed at making insurance companies a profit. Further, all hospitals and healthcare providers will now be nonprofit.