The Tradeoffs Associated With The Medicare-For-All Policy

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In order to fully evaluate the tradeoffs associated with the Medicare-for-all policy, it is imperative that a source of funding, or a payment model, is identified. Without this information, it is difficult to determine not only who would benefit and who would suffer, but how the system as a whole will respond to the healthcare choices of over 323 million people. Another important detail lies in the potential cost savings and efficiency for middle-class families. The Medicare-for-all plan promises to save the average American family anywhere from $3,800 to $5,100 a year in health care costs (Qiu, 2016). Instead of a traditional monthly premium, consumers would pay a much lower health care tax based on their household income. A household…show more content…
Medicare-for-all mandates that employers pay into the single-payer healthcare system instead of providing insurance which will potentially cut into the money available for paychecks (Qiu, 2016). While still in the early planning stages, it is vital to identify and address the key missing details of Sanders’ plan. Tradeoffs can only be fully measured when all relevant information is made available.
Several legislators have proposed alternative policies aimed at bringing the American health care system closer to the goal of universal coverage. “The Patients’ Choice Act,” first unveiled in 2009 by Wisconsin’s First District Congressman and Speaker of the House, Paul Ryan, and Oklahoma Senator, Tom Coburn, was one such alternative. The Patients’ Choice Act (PCA) was originally designed to grant universal coverage to every American while ensuring equitable access to services and improved patient outcomes. Although no longer among the options on the table, PCA had its advantages and disadvantages.
Much like our current system, the bill would have permitted individuals and small businesses to buy insurance through state exchanges, provided base level coverage options set by the federal government, offered individuals and households refundable tax credits to finance their health insurance premiums, and protected people with pre-existing conditions seeking coverage (Matthews, 2013). A
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