Study: Medicare For All Would Cut Spending On Healthcare By Nearly Half A Trillion Dollars Annually
A joint study conducted by researchers at three universities reveals huge cost savings, as well as tens of thousands of lives saved, each year under a Medicare for All plan, like what some Democratic candidates for president are proposing.
The study, carried out by researchers at Yale University, the University of Florida, and the University of Maryland, demonstrated that $450 billion in spending would be saved each year if the healthcare plan was implemented. Additionally, the average American family would save $2,400 in healthcare costs each year, Newsweek reported.
On top of that, 68,000 lives would be saved every year if Medicare for All was the law of the land, the study suggested. That’s because tens of millions of Americans still go without healthcare coverage of any kind.
That number, however, could be even higher.
“Our study is actually conservative because it doesn’t factor in the lives saved among underinsured Americans — which includes anyone who nominally has insurance but has postponed or foregone care because they couldn’t afford the copays and deductibles,” one of the study’s authors, Dr. Alison Galvani, explained.
It’s unclear whether Medicare for All could be proposed by the next president, even if a Democrat who supports it wins the election. There would be many legislative hurdles to cross just to get it to a vote.
A new study conducted by Yale researchers shows Medicare for All would save both money and lives. @KatyTurNBC discusses with Wendell Potter, President of Business for Medicare for All.https://t.co/deQ1dUalpf
— MSNBC (@MSNBC) February 18, 2020
Americans are somewhat open-minded about the idea, though not all are on-board. A Kaiser Family Foundation poll from January found that 56 percent of voters support a Medicare for All plan, with 41 percent opposed.
That support comes even though large segments of the American populace are receiving misinformation about the proposal. While the plan being touted would call for eliminating deductibles and co-pays completely, 61 percent of Americans believe those items would still exist in a Medicare for All system.