r/FluentInFinance • u/The-Lucky-Investor • 13d ago

“Medicare for All” would save the U.S $5.1 Trillion over 10 years Discussion/ Debate

https://www.commondreams.org/news/2018/11/30/easy-pay-something-costs-less-new-study-shows-medicare-all-would-save-us-51-trillion
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u/Ginden 13d ago

What’s your proposal?

Pay 100 billions to Novo Nordisk (something like 20 times their profit from Ozempic) and make patent available for free.

It's probably the best investment possible, as US is estimated to lose $170B every year (2016 prices) due to obesity and overweight.

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u/BigPlantsGuy 13d ago

So instead of saving $5.1 trillion, we instead save $170 billion (minus 100s of billions we have to pay)?

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u/Ginden 13d ago

Eh. It's $5.1T over 10 years (claimed by politician), while $170B (in 2024 prices it's $225B) is every year.

So Ozempic nationalization would cost $100B now to save $2.25T over 10 years.

This has key political advantage over universal healthcare - patent nationalization would be effectively irreversible, while universal healthcare can be gutted by Republicans in next election cycle. It can also be framed in "patriotic" terms, like creating jobs in American pharmaceutical factories.

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u/BigPlantsGuy 13d ago

So we would save half as much as we would if we ignored your suggestion and just did M4A?

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u/magikarp2122 13d ago

Don’t have to worry about Republicans gutting it is a huge advantage.

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u/mrpenchant 12d ago

You're ignorant of medical patent practices if you think one patent no longer being valid suddenly means the drug is definitely going to be affordable to access.

Pharma companies would take the $100 billion and then still work out how to massively profit off the drug regardless.

Systemic change has actually shown itself to be stronger because while Republicans have vowed to repeal the ACA since it passed, 14 years later it is still here.

I'll also note this idea that a drug no longer has a patent and everyone being free of the ailments that drug is meant to solve are 2 very different things. Cost isn't inherently solved, people aren't necessarily convinced, and administering it would be a significant process.

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u/BigPlantsGuy 13d ago

They could just sell the patents to a private company. There are very few ways to “republican proof” our country