WaPo: Single-Payer Health Care Would Carry Enormous Price Tag

from tHEORetically Speaking: The HealthEconomics.Com Blog at http://bit.ly/2tpaSv5 on June 20, 2017 at 05:25PM

As Republicans in Congress continue to push forward their vision of health care, some on the other side of the aisle have shifted the spotlight to a single-payer health care system, a model frequently seen in European countries.

The Washington Post Editorial Board, however, writes in an opinion piece that a similar single-payer model would take a heavy toll on Americans due to its exorbitant price tag, despite “some strong advantages.”

In a single-payer model, the government foots the bill directly for the respective population’s health coverage.

“But the government’s price tag would be astonishing,” the board writes. “When Sen. Bernie Sanders proposed a ‘Medicare for all’ health plan in his presidential campaign, the nonpartisan Urban Institute figured that it would raise government spending by $32 trillion over 10 years, requiring a tax increase so huge that even the democratic socialist Mr. Sanders did not propose anything close to it.”

Proponents of single-payer also point toward a “mountain of savings,” the Washington Post board writes, after abandoning the current public-private blueprint currently in place. However, according to the Urban Institute, a non-partisan think tank, the savings are less mountainous.

Click here to read the full Washington Post Editorial Board’s opinion piece.