The latest concerns about Medicare-for-all.
Medicare-for-all, the single-payer healthcare scheme that would eliminate private insurance, continues to make headlines. In essence, the plan is designed to hit corporations and the wealthy, including a provision requiring companies to send most of the funds they currently spend on employee health contributions to the federal government. Sen. Elizabeth Warren also noted plans to cut military spending.
Unsurprisingly, the plan was roundly criticized by former vice president Joe Biden’s campaign, which put out a statement that said it “hinges not just on a giant middle class tax hike and the elimination of all private health insurance, but also on a complete revamping of defense, immigration, and overall tax policy all at once in order to pay for it — a hard truth that underscores why candidates need to be straight with the American people about what they’re proposing.”
Currently, there are a few problems that would need to be addressed.
- Bernie Sanders concedes it would cost $30 trillion or more.
- Michael Bennet slated Warren by saying that her numbers were simply not believable and that the true cost of it was unknown.
- There is not much of a justification as to why we need this when the Affordable Care Act premiums are decreasing and other issues (e.g. extending coverage, premium costs) can be addressed through much cheaper proposals.
- The plan would put substantial downward pressure on payments to hospitals, doctors and pharmaceutical companies.
- Warren would end up handing the health care issue right back to the Republicans.
Do you have questions regarding your health insurance? Then don’t hesitate to contact the experts at Donald Weiss Insurance Services. Our dedicated team is ready to assist you with all your insurance needs.