Single-Payer Health Care Saves Money
Yes, taxes will increase. However, individual insurance premiums go away, as do most out-of-pocket expenses. Professor Frank estimates a 30% aggregate health care cost reduction. From where? Lower administrative costs. No advertising expenses. And the government can make more favorable deals with providers and pharma.
B-b-but, Medicare’s crashing. Not true, in fact. More to the point, though, Medicare self-selects older, sicker people. A pool which includes everybody captures the tens of millions of healthy people whose health care costs are minimal.
Without doubt, single-payer presents challenges. Daniel Kahneman, psychologist, Nobel