STUDY: "MEDICARE FOR ALL" PROJECTED TO COST $32.6 TRILLION
Today the George Mason University Mercatus Center released its study on based on the "Medicare For All" proposal from democratic socialist Sen. Bernie Sanders, which would increase government spending by $32.6 trillion over the next 10 years.
From the Associated Press:
The latest plan from the Vermont independent would require historic tax increases as government replaces what employers and consumers now pay for health care, according to the analysis being released Monday by the Mercatus Center at George Mason University in Virginia. It would deliver significant savings on administration and drug costs, but increased demand for care would drive up spending, the analysis found.
Sanders' office has not done a cost analysis, a spokesman said. However, the Mercatus estimates are within the range of other cost projections for Sanders' 2016 plan.
Also called "single-payer" over the years, "Medicare for all" reflects a long-time wish among liberals for a government-run system that covers all Americans. The idea won broad rank-and-file support after Sanders ran on it in the 2016 Democratic presidential primaries. Looking ahead to the 2020 election, Democrats are debating whether single-payer should be a "litmus test" for national candidates.
The analysis claimed that the proposed single-payer North Carolina Health Plan run by the state could cost more than $101 billion in its first year. However, according to the General Assembly's nonpartisan Fiscal Research Division, it would cost the state an additional $72 billion. Including federal dollars that go toward health care — about $30.1 billion — the state would have to shoulder about $41.89 billion, according to the estimates from fiscal staff. That figure is almost double the current general fund budget.