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/edm4un 13d ago

Can we count on the government to successfully implement Medicare for all without it being just as expensive as non Medicare options?

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u/GeekShallInherit 13d ago

Key Findings

  • Private insurers paid nearly double Medicare rates for all hospital services (199% of Medicare rates, on average), ranging from 141% to 259% of Medicare rates across the reviewed studies.

  • The difference between private and Medicare rates was greater for outpatient than inpatient hospital services, which averaged 264% and 189% of Medicare rates overall, respectively.

  • For physician services, private insurance paid 143% of Medicare rates, on average, ranging from 118% to 179% of Medicare rates across studies.

https://www.kff.org/medicare/issue-brief/how-much-more-than-medicare-do-private-insurers-pay-a-review-of-the-literature/

Medicare has both lower overhead and has experienced smaller cost increases in recent decades, a trend predicted to continue over the next 30 years.

https://pnhp.org/news/medicare-is-more-efficient-than-private-insurance/

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u/Delicious_Bee2308 12d ago

bullshit

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u/GeekShallInherit 12d ago

What a compelling argument. By all means, present your evidence. That requires sources, not just pulling unsupported claims out of your ass. It's not like we don't have evidence from around the world, with our peers achieving better outcomes while spending half a million dollars (PPP) less per person for a lifetime of healthcare.

It's not like we don't have massive amounts of peer reviewed evidence showing universal healthcare would save money while getting care to more people who need it in the US.

https://journals.plos.org/plosmedicine/article?id=10.1371/journal.pmed.1003013#sec018

It's not like we don't have evidence public healthcare spending has a massively positive return on investment.

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6591259/#:~:text=While%20actual%20the%20exchange%20rate,spending%20(2%2C%203).