BERNIE SANDERS’ MEDICARE FOR ALL — ESTIMATED TO COST $32.6 TRILLION STUDY SAYS

Jul 30, 2018 by

7.30.18 – Associated Press

 

http://www.foxnews.com/politics/2018/07/30/bernie-sanders-medicare-for-all-bill-estimated-at-32-6t-study-says.html

 

“Bernie Sanders’ ‘Medicare for all’ bill estimated at $32.6T, study says”

Associated Press

 

Excerpts from this article:

 

WASHINGTON — Sen. Bernie Sanders’ “Medicare for all” plan would increase government health care spending by $32.6 trillion over 10 years, according to a study by a university-based libertarian policy center.

That’s trillion with a “T.”

Sanders’ plan builds on Medicare, the popular insurance program for seniors. All U.S. residents would be covered with no copays and deductibles for medical services. The insurance industry would be relegated to a minor role.

…”It’s showing that if you are going to go in this direction, it’s going to cost the federal government $2.5 trillion to $3 trillion a year in terms of spending,” said Thorpe. “Even though people don’t pay premiums, the tax increases are going to be enormous. There are going to be a lot of people who’ll pay more in taxes than they save on premiums.” Thorpe was a senior health policy adviser in the Clinton administration.

…other provisions would tend to drive up spending, including coverage for nearly 30 million uninsured people, no deductibles and copays, and improved benefits, including dental, vision and hearing.

After taking into account current government health care financing, the study estimated that doubling all federal individual and corporate income taxes would not fully cover the additional costs.

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