Medicare for All is the economically prudent way to bring the cost crisis of U.S. healthcare under control.
I support Medicare for All because it is the economically prudent way to reduce cost and waste, which we all experience.
The Problem: We have the most expensive healthcare system in the world. What are we getting for the money? As a society we pay $10,000 a year per person for medical care. Other advanced countries such as Canada, Germany, France and Australia pay half of that.
- We have worse outcomes in life expectancy, infant mortality, premature death, and disease specific indicators than other developed countries.
- Over 27 million people in the U.S. don’t have any insurance. We’ve lost 3 million people on insurance since Trump took office. Millions more have insurance that’s too expensive in co-pays, deductibles and other out of pocket expenses and it cannot be used.
- Businesses that provide insurance to their employees are seeing their costs rise dramatically annually. It costs an average of $10 an hour to insure an employee with a family. MCS pays $13.50 per hour, $27,000 a year.
- Flat Wages: That’s money that can’t go into raising wages or creating new job as premium share grows.
- Job Lock: The fear of losing insurance keeps many people stuck in bad jobs, and limits American entrepreneurialism. The costs make the U.S. companies less competitive internationally (“…a tapeworm in the belly of American competitiveness.” – Warren Buffet), and makes it less attractive for international businesses to expand into the U.S.
- Fully 1/3 of American citizens experience economic barriers to care. That’s rationing at its worst.
What is the Cost Crisis?
- Rising insurance premiums
- Rising drug prices
- Rising out of pocket expenses
- Too many middlemen
- Administrative complexity
The Reason: It’s simple: The private for-profit insurance system is a burdensome middleman that adds no value.
- The average physician spends $99,000 annually interacting with insurance administration. That’s four times as much as doctors in Canada. (Milliman Study in the Journal of American Medical Association)
- Insurance companies take close to 20% of premium dollars for their advertising, administration, overhead, and profits. By comparison, Medicare spends 2%.
- Healthcare does not respond to “free-market” solutions. There’s no real consumer choice. But Medicare and Medicaid have proven they are able to negotiate for lower rates than private insurers. They have market power the private insurers don’t have.
- There are no prices. Try getting a price before going to the hospital.
The Solution: We can lower the total costs of our healthcare system by over $400-500 billion, even after including the added cost of providing coverage to all with Medicare for All and reducing out of pocket expenses.
The healthcare industry spends more money on lobbying than the oil and defense industries combined. They'll do everything in their power to resist this kind of change.
That's why we started this campaign. Sign your name to let me know you support this movement.