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New study finds that Medicare for All would save the US $5.1 trillion over a decade. The paper also describes ways to transition to the new system and how to fund it.

 

In-Depth Analysis by Team of UMass Amherst Economists Shows Viability of Medicare For All

 

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A team of economists from the University of Massachusetts Political Economy Research Institute (PERI) has found that the Medicare for All Act of 2017, introduced to the United States Senate by Senator Bernie Sanders, is not only economically viable, but could actually reduce health consumption expenditures by about 9.6 percent while also providing decent health care coverage for all Americans.

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The researchers also find that based on 2017 U.S. health care 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.

 

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3 minutes ago, RedDenver said:

Maybe, but saving money is pretty important to a lot of conservatives. Hopefully more will start coming around.

Ehh it may save money but I really don't think it matters. I think it will take time. Younger conservatives are more receptive to this idea but saving money and lowering the deficit don't seem to be priorities of the current GOP. If we can shift things back to normal from the culture war climate we reside in right now maybe things will change.

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5 hours ago, Nebfanatic said:

Ehh it may save money but I really don't think it matters. I think it will take time. Younger conservatives are more receptive to this idea but saving money and lowering the deficit don't seem to be priorities of the current GOP. If we can shift things back to normal from the culture war climate we reside in right now maybe things will change.

I meant it will save them money. From that paper:

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the researchers find that the net costs of health care for middle-income families would fall by between 2.6 and 14 percent of income.

 

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5 hours ago, RedDenver said:

I meant it will save them money. From that paper:

 

I know but I don't think it will be enough to overcome the stigma of universal health care at this time, imo. I think conservatives will still be against it just because it sounds like socialism.

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My wife just got a full time job at a good company with health care benefits.

 

Yay!

 

Her new job means we no longer qualify for the federal assistance portion of Obamacare.

 

Fair enough.

 

But our new healthcare insurance under her "benefit" is slightly more expensive than the healthcare we can get as a single family on the open market.

 

So we are actually staying on Obamacare. 

 

WTF? 

 

My wife's healthcare "benefit" costs slightly more than a third of her salary.

 

Fun fact: at this pace Millennials are expected to be paying half of their income on health insurance. 

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12 hours ago, Guy Chamberlin said:

My wife just got a full time job at a good company with health care benefits.

 

Yay!

 

Her new job means we no longer qualify for the federal assistance portion of Obamacare.

 

Fair enough.

 

But our new healthcare insurance under her "benefit" is slightly more expensive than the healthcare we can get as a single family on the open market.

 

So we are actually staying on Obamacare. 

 

WTF? 

 

My wife's healthcare "benefit" costs slightly more than a third of her salary.

 

Fun fact: at this pace Millennials are expected to be paying half of their income on health insurance. 

 

And the other half will be student loan debt.

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3 hours ago, Guy Chamberlin said:

 

And this is the problem with looking at unemployment statistics and the stock market to declare that everything is great again. 

America has become a very expensive place to live. Sure the large corporations can make big money, but for the average guy it is more costly with each passing year.  We had 2 teenage boys under our roof at one time years ago - our food bill seems much higher now as well as the health insurance - even though it is just on the 2 of us. 

 

So, now that the Fed judge in Tx has ruled on Obama care and the SC may follow suit - the Congress better get on top of this but it is doubtful.  I know some repubs are thinking they need to stay in session and pass (before the Dems take control) either the same bill or an alternative one that McCain gave a thumbs down on. 

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