Costs and Savings
via Improved Medicare for All
“Savings” = a dramatic reduction of
the average U.S. health care costs,
such as no major medical bills for anyone
The United States is expected to have a similar or better result compared to other free-market countries in terms of the cost. Using their experience in terms of the cost per person, there will be a cost reduction of 60% per person in the United States. The following table provides some explanation about what is expected to occur.
Costs
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Savings
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Taxes
We will report to you the specific expected amount of tax to be paid by an individual and by a family when that is available.
Special note: That tax information will not be requested from the Congressional Budget Office until Americans are informed and have caused an adequate degree of support for improved Medicare for All within the U.S. Congress. And it won't be finalized until the final debates and decision-making in the U.S. Congress. The bill that needs a strong amount of support is H.R. 676.
In the meantime, you can refer to the following information:
— See the link at "Proposed Funding" below.
— The decades of cost experiences within the other free-market countries has resulted in a consistent cost of 40% of what Americans pay per person. That is an incredible, but realistic, number that has been demonstrated for decades across many countries. You can see the examples of just six of those countries.
— Since the United States will have the best health-care-for-all system, we will have the basis for achieving the same cost experience as the other countries or better.
Proposed Funding
The proposal for funding in H.R. 676 includes multiple sources, including taxes on both earned and unearned income and additional sources of income, such as an additional tax on those with the very highest incomes.
See H.R. 676 Section 211 for that set of ideas for how the funding will occur; in other words, there are other funding proposals that might be considered when the bill is debated in the U.S. Congress.
Out-of-Pocket Costs
As indicated in the savings column to the right, many costs will be eliminated. Our out-of-pocket costs will be very low. Here is an example of a payment that we will need to make:
A patient will need to pay extra for a model of equipment that is not automatically provided, such as paying extra for a different cane.
A more specific estimate
If you prefer to see a specific number(s) to give you at least a rough idea of many Americans will experience for the cost of health care, go to that Answer at the Answers web page.
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Cost-Cutting
As a result of improved efficiency, we will have much lower administrative costs.
As a result of the our power of negotiating prices, we’ll have lower costs for drugs and equipment.
The Results
No co-pays. No deductibles.
No coinsurance, such as 20% of the cost of a stay at a hospital.
No payments to health insurance companies for medically-necessary care.
No major medical bills.
No loss of homes due to medical bills.
No constant worry about medical bills.
No bankruptcies due to illness or medical debts.
No more “payment” in hardships.
No more fund-raisers of various types that often do not cover the huge bills.
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Additional Information
- Our Tax web page explains more about the status of knowing how much we will pay in taxes.
- The best health-care-for-all system will be in the United States. The United States, due to its size, will have the lowest risk and will be able to establish the lowest costs, such as for drugs and equipment.
- The minimum expectation for costs is that we will at least be as good as other free-market countries … and most likely better … on a basis of the cost per person.
- H.R. 676 — United States House of Representatives Bill 676, the U.S. National Health Insurance Act (“Expanded and Improved Medicare for All”) is the proposed legislation for Improved Medicare for All.
- Improved Medicare for All improves efficiency and will will decrease costs by over $400 billion per year while assuring that everyone will have health care.
Invitation:
Know what every American should know.
and then
Sign Up to stand up for single-payer
to help get
improved Medicare for All.
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