'Medicare for all' bill estimated at $32.6 trillion

Bernie Sanders’s ‘Medicare for all’ would cost $32.6 trillion study

Doubling federal individual and corporate income tax receipts would not cover the full cost, the study said.

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.

Under Sanders' plan, all USA residents would be covered with no copays or deductibles for medical services.

"The insurance industry ['s]... main function in life is not to make people well, but to make stockholders incredibly rich", he added. The author behind the paper, Charles Blahous, predicts that Sanders' health care strategy will end up costing Americans nearly $33 trillion. The Mercatus Center receives funding from the Koch brothers, prominent conservative donors, and Charles Koch is on the center's board.

"At a time when the United States spends far more per capita on health care than any other country on Earth... a Medicare For All health care system would save the average American significant sums of money", he continued.

While House Speaker Ryan may seem keen to believe Blahous' paper, critics of the latter's study note that the current American health care system has cost, as of 2016, $3.3 trillion on an annual basis.

Sanders' staff found an error in an initial version of the Mercatus report, which counted a long-term care program that was in the 2016 proposal but not the current one.

But Adam Gaffney, an expert at the Harvard Medical School who supports single payer, said Blahous is underestimating by billions of dollars the savings Sanders' plan would create, by reducing spending on prescription drugs and administrative overhead.

"People just have to decide what they're comfortable with", said Charles Blahous, the study's author. 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. Even if Democrats manage to take control of both the House and Senate, a narrow majority with a Republican in the White House would make it hard to enact this kind of legislation.

But Sanders' idea has broad rank-and-file support among Democrats, and polls show it also appeals to many independents.

The Mercatus analysis estimated the 10-year cost of Medicare for all from 2022 to 2031, after an initial phase-in. Those studies found increases in federal spending over 10 years that ranged from $24.7 trillion to $34.7 trillion.

The study from a libertarian policy institute at George Mason University in Virginia, the Mercatus Center, looked at Sen.

So while the price tag for the federal government would increase, the total cost of healthcare would go down while also providing healthcare to more than 30 million uninsured Americans.

Sanders' plan would require enormous tax increases in order for the government to replace what employers and consumers now pay for health care. But this is more of an accounting thing than anything else: rather than paying premiums, deductibles, and co-pays for health care, people will instead pay a tax that is, on average, a bit less than they now pay into the health care system and, for those on lower incomes, a lot less.

Robert Graboyes, a senior research fellow and health care scholar at the center who read Blahous's report through its production, said the report doesn't "predict" $2 trillion in savings.

Speaking to The Intercept on Monday, health policy experts and co-founders of Physicians for a National Health Program (PNHP) David Himmelstein and Steffie Woolhandler argued that even the "whopping" $2 trillion in savings projected by the Koch-backed study vastly overstates the costs of implementing Medicare for All and "grossly" understates the savings that would result.

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