SUMMARY: Over the next ten years Americans are expected to spend $52trn on health care. Under a generous single-payer system, spending would increase by $7trn, according to a recent study by the Urban Institute. According to the Kaiser Family Foundation, a health-policy think-tank, 51% of Americans support Medicare for All while 47% oppose it. But when various objections to the program are made—such as the elimination of private health insurance, and the possibility of increased taxes and queues for treatment—support drops to below 40%. The more we know the less we like it.
Americans pay higher out-of-pocket costs than most other wealthy countries, a byproduct of having the most expensive health care system in the world, according to the OECD. and they are fed up with higher healthcare costs. While pharma has been taking the heat I keep reminding people that even if all prescription drugs were free our healthcare costs would still be rising.
Partisan divides split Americans’ perceptions of the healthcare system’s quality. While 48% of the general population believes that the quality of care in the U.S. is the best or among the best in the world, this swells to 67% among self-identified Republicans, compared with just 38% among Democrats.
The idea of Medicare for all sounds great but paying for it and limiting the choice of consumers’ health plans is not popular when people learn the details. It’s doomed to fail and Ms. Warren is gravely mistaken to support such a plan.
What people want
It’s simple really; people want the choice to see a doctor THEY chose. They want lower deductibles and lower healthcare insurance costs. Given the profits of PBMs, insurers, and hospitals it should be easy to develop a plan that allows patients choice but limits out-of-pocket and rising insurance costs.
If things stay the way they are it’s feasible that companies are going to develop their own ways to combat rising health insurance costs. So,e big organizations, for example, may decide to form their own health insurance and PBM support. Amazon is already taking steps to curb their healthcare costs with online consultations for employees.
Medicare for all sounds nice but it’s not the answer. Evolution of our healthcare system is needed not a revolution. While it may be true that the 1% have experienced a windfall under Republicans a sudden shift to the left is not going to answer our concerns about healthcare costs.