Imagine my surprise during the week as I am reading my usual suspect blogs and I come across a story that the Motley Fool group has written in favor of Medicare for all. Motley Fool is a investment analysis group. Their main focus is to get the best total return for your investment dollar. In short their analysis showed that using Medicare as a person’s main health insurance would be an excellent choice.
This should come as no surprise to almost anyone reading this. I would guess the readership here is mostly liberal and well tuned in to the debates concerning health care. What is of interest in this case is that the analysis comes from an investment advising group looking for the very best deal.
Here is an excerpt from the story:
“Obamacare — but cheaper
A new survey released by the number-crunching technocrats at NerdWallet last month clearly illustrates how extending Medicare coverage to all Americans might cut costs for everyone. According to NerdWallet, Medicare generally pays out no more than $0.27 for every dollar that hospitals bill it for medical services — a savings of 73%. Put another way, an uninsured patient receiving the same care as is provided to a patient covered by Medicare can expect to pay nearly four times as much.
Obamacare — but more efficient
How does a 73% discount on medical bills compare to what’s promised under the ACA?
In contrast, the U.S. government itself agrees that the ACA — the system we’ve settled upon instead of offering Medicare for all — costs more than a move to a cheaper, more efficient, and better single-payer system. The U.S. Government Accountability Office calculates that a switch to single- payer would shave $400 billion a year off the national health-care bill.
Little wonder, then, that a 2008 survey published in the Annals of Internal Medicine found that 59% of physicians polled support Medicare for all.
All that’s really required for Americans to begin reaping the 73% savings of a Medicare-for-all plan is to open up Medicare enrollment to everybody.
Give everyone the right to sign up for Medicare, rather than requiring us all to sign up for a private insurance plan under the ACA. And then let the marketplace decide if Medicare for all is really as good an idea as NerdWallet’s survey makes it sound.”
Getting To Obamacare – The Fight Ahead
However, just getting to Obamacare itself will not be the normal implementation of a federal bill. Republicans are so scared that not only will Obamacare succeed, it will succeed in a big way. As much as 1/3 of America is now effectively cut off from access to health care. Just being able to see someone who can help will be a godsend to many. Republicans know that. They had two choices early on – one to help make it work and take part of the credit or the choice they went with which is to stop it.
But Obamacare has passed and is law and is already partially in effect and will soon be fully in effect. All the stalling tactics, all the undermining of American law is only going to make the Republican Party only more sinister. Obamacare will only whet the appetite of the American public for an update to the law which will gives us health care at a lower cost – Medicare for All.
Republicans missed the train this time. When it comes time to modernize the health care law, Republicans will not even be at the station as they fight to bring back bleeding and leeches as treatments.