"If Medicare for All was enacted, “we would, as a country, save nearly $5 trillion over ten years."
"The Sanders Medicare For All proposal would save the average family more than $5,000 per year. It also would increase, not lower, incomes for 95 percent of Americans, according to Professor Gerald Friedman, professor of economics at the University of Massachusetts at Amherst.
Friedman writes that if Medicare for All was enacted, “we would, as a country, save nearly $5 trillion over ten years in reduced administrative waste, lower pharmaceutical and device prices, and by lowering the rate of medical inflation.”
Former Labor Secretary Robert Reich notes that:
Bernie’s proposals would cost less than what we’d spend without them. Most of the “cost” . . . would pay for opening Medicare to everyone. This would be cheaper than relying on our current system of for-profit private health insurers that charge you and me huge administrative costs, advertising, marketing, bloated executive salaries, and high pharmaceutical prices.
Paul Waldman recently wrote in The Washington Post, “Every single-payer system in the world, and there are many of them of varying flavors, is cheaper than the American health care system. Every single one. So … you can’t say (Sanders’ proposal) represents some kind of profligate, free-spending idea that would cost us all terrible amounts of money.”
http://commondreams.org/views/2016/01/05/why-sanders-economic-plan-best-99-percent
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