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Contrary to popular belief, current healthcare spending is entirely sufficient to fund M4A

The claim that Medicare for All is prohibitively expensive is a common myth. Consider these two scenarios:

  • For those with employer-sponsored insurance: The funds employers currently spend on healthcare would be redirected to employees, who would already be covered under M4A. These individuals would pay a portion of this amount as healthcare tax. (Many overlook that the new healthcare tax would replace the existing employer contributions for healthcare coverage.)
  • For those currently uninsured: Due to economies of scale and reduced administrative costs, M4A can save a significant amount of money. One study estimates these savings at around $450 billion. These savings would be sufficient to cover currently uninsured individuals. (Note that approximately 8% of Americans are currently uninsured, and total U.S. healthcare spending amounts to around $5 trillion.)

When evaluating M4A, the focus shouldn't be solely on government spending but on "total" healthcare spending.

The U.S. currently spends roughly twice (!) as much per capita on healthcare as any other developed country. There is a lot we can do with this money. In particular, we can fund M4A with this substantial expenditure without needing to increase it.

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Overview