Medicare for all

Sound economic projections are critical in assessing investment and public policy. I try not to let the fact that I’m philosophically valanced towards Medicare for all blind me to the need for rigorous study of its likely economic impact.

“Previous research has shown that shifting the United States to a Medicare for All system could save roughly 68,000 lives and $650 billion per year, but a new study by experts at Yale University suggests the savings would likely be even greater on both fronts.”

*snip*

“We estimate that such a system would reduce national health expenditure by $1,041 billion annually,” they explained. “Sources of savings include reductions in administrative overhead, pharmaceutical prices, fraudulent billing, and avoidable emergency care. Combined with the reversal of recent retractions, universal coverage would save over 114,000 lives annually.”

 

“Specifically, as Sanders’ office detailed in a statement, Americans would save:

·       $377.5 billion by paying no more than other major countries for prescription drugs;

·       $286.3 billion by eliminating bureaucracy and waste;

·       $285.7 billion by curbing fraudulent billing;

·       $100 billion by preventing costly emergency room and hospital visits; and

·       $295.6 billion by reimbursing providers fairly for the care they provide.”

 

Of course, not matter how sound the economics, Republicans will oppose Medicare for all as “socialized medicine,” even though the medical practices, hospitals and pharma companies will all remain in private hands. 

Insanity is doing the same thing over and over and expecting a different outcome. The American healthcare system is insane.

https://www.juancole.com/2026/08/medicare-114000-trillion.html