Tags: 2020 Elections | Healthcare Reform | Medicare | medicare for all | bernie sanders | elizabeth warren | single payer

Study: Medicare for All Would Cost $34 Trillion Over Decade

bernie sanders points and speaks wildly during a democratic presidential primary debate
Sen. Bernie Sanders, I-Vt. (David J. Phillip/AP)

By    |   Wednesday, 16 October 2019 05:50 PM

A full-scale "Medicare for All" program is the costliest of healthcare proposals at $34 trillion over a decade, according to a new estimate from the liberal think tank Urban Institute.

The proposal examined was one similar to the one pushed by Democratic presidential hopefuls Sens. Elizabeth Warren, D-Mass., and Sen. Bernie Sanders, I-Vt.

Detailed as a "single-payer approach," the plan would leave no one uninsured, including undocumented immigrants, and "largely eliminate consumers' out-of-pocket medical costs but would require much greater federal spending to finance."

The total: $34 trillion over 10 years. Federal government spending would increase by $2.8 trillion and national spending on healthcare would grow by about $720 billion in 2020.

A model mixing public and private insurance – similar to one favored by Democratic presidential frontrunner Joe Biden – would improve on the Affordable Care Act but leave 6.6 million undocumented immigrants without coverage.

National health spending would decrease the first year by $22 billion under the plan, and overall government spending would rise by $1.5 trillion over 10 years.

The 81-page study was conducted by the Urban Institute and the Commonwealth Fund.

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The costliest of healthcare proposals is a full-scale "Medicare for All" program at $34 trillion over a decade, according to liberal think tank the Urban Institute.
medicare for all, bernie sanders, elizabeth warren, single payer
Wednesday, 16 October 2019 05:50 PM
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