Medicare For All Basics
Why Is Medicare For All the Answer?
The Short Answer
Medicare for All is the only sustainable way to have universal healthcare at a lower cost.
First thing first: Medicare for All is truly universal.
- There are over 80 million people in the United States who are either uninsured or underinsured.
- Medicare for All would make sure no one ever has to forgo medical treatment because of cost.
Secondly, it’s a lot cheaper.
- We would save hundreds of billions of dollars annually with a Medicare for All system.
Where do these savings come from?
- Our multi-payer system is the most expensive in the world because it’s loaded down with redundancies and administrative waste.
- Traditional Medicare uses about 2% of its budget on administrations, salaries, and other costs not related to the delivery of care.
- By comparison, private insurance spends anywhere between 13-17% of its revenues on things like advertising, inflated salaries, administration, and profits.
- With its new purchasing power, Medicare would be in a fantastic position to negotiate drug prices.
- Currently, Americans spend about twice the average of other wealthy countries for prescription drugs.
- Doctors, hospitals, and other providers would save significant amounts of money on administration.
- By having a single insurer and claims system, we would significantly reduce the staff time and resources needed to file paperwork and fight with insurance companies.
- Employers would save also.
- They would no longer need to waste time and energy shopping for and managing health insurance plans for their employees.