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/MoneyGrapefruit1000 13d ago

Is this similar to how the ACA was going to make healthcare affordable without making people change their doctors? Because that didn’t happen for most of us.

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u/GeekShallInherit 13d ago

From 1998 to 2013 (right before the bulk of the ACA took effect) total healthcare costs were increasing at 3.92% per year over inflation. Since they have been increasing at 2.79%. The fifteen years before the ACA employer sponsored insurance (the kind most Americans get their coverage from) increased 4.81% over inflation for single coverage and 5.42% over inflation for family coverage. Since those numbers have been 1.72% and 2.19%.

https://www.kff.org/health-costs/report/employer-health-benefits-annual-survey-archives/

https://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/NationalHealthExpendData/NationalHealthAccountsHistorical.html

https://www.bls.gov/data/inflation_calculator.htm

Also coverage for people with pre-existing conditions, closing the Medicare donut hole, being able to keep children on your insurance until age 26, subsidies for millions of Americans, expanded Medicaid, access to free preventative healthcare, elimination of lifetime spending caps, increased coverage for mental healthcare, increased access to reproductive healthcare, etc..

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u/interzonal28721 12d ago

All I got from aca was a high deductible plan

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u/GeekShallInherit 12d ago

Deductibles were increasing faster before the ACA than after as well. And, of course, you likely got access to an HSA now with a high deductible plan, which is pretty much the best investment opportunity in the country.