2016 Postmortem
In reply to the discussion: "Medicare for all" The first thing Sanders said after emerging from a successful hernia procedure [View all]JDPriestly
(57,936 posts)If we raise the cap, we may be able to lower the rate of the payroll tax.
Besides, the point in Medicare for all or single payer is that people pay a percentage of their paycheck for their contribution to the cost of medical care.
Everybody pays in a percentage of their paycheck. If you earn less, the amount you pay in is much lower than the amount that a top earner pays in.
Your analysis fails because you are assuming the same kind of tax system with the same allocation of taxes to the people earning less that we have now. Medicare for all would be accompanied by a change in our tax system.
Right now, already, with the ACA, the cost of insurance for people who earn less is subsidized by the taxes and prices paid for insurance by people who earn more. The difference is that part of the insurance premium now goes to for-profit insurance companies. They take a cut.
And as we know from Medicare when contrasted with private insurance, the administrative costs will go down quite a bit when we switch to Medicare for all. There will be fewer restrictions on care since co-pays and the like will be sharply reduced.
Our current Medicare provides for seniors. It provides for us at the time of our life when not only our medical costs are usually at their highest but also when the administrative costs because of the large number of claims and the large amount of pharmaceuticals that elderly people need are at their highest.
Medicare for All will save money. As one who paid for my own insurance when I had my own business, I can see the great advantage of Medicare for all. Many people have no idea how much their employers really pay for their health insurance.
As I have mentioned so many times that I can't believe people don't remember it, I lived in Europe for years in several different countries. We were "on the local economy" and had the local single payer insurance. The programs differed, but they all shared the fact that the insurance companies were almost all as far as I know not-for-profit. Our insurance covered dental care as well as medical care, much longer hospital stays than I have heard of in this country and excellent medical care. In addition, the health insurance covered "Kurs" which were sort of stays at spas or baths that I almost think of as recovery resorts for people with certain chronic ailments. Alcoholism was one of them but there were others.
Single payer in my experience is far cheaper and far better than our ACA or any program we have here.
It will be cheaper too. The article proves that.
Remember the "taxes" that will be paid for the insurance will be INSTEAD OF and not in addition to the money we now pay to private insurance companies for coverage. They really aren't "taxes" for the general fund at all.
We will all save money if we have single payer. The article proves that.