Can Medicare For All really work and reduce the cost for the middle class? Using Medicare as it works for seniors now, let's look at an estimated annual cost for a family say a family of four.
First, it will cost $1,600 per person, paid up front for a cost of $6,400.
Second, Medicare pays 80% of the approved amount, not the billed amount, leaving the family to pay the other 20% or buy a supplemental insurance policy. Let's use $2,500 for a supplemental policy.
Third, for prescriptions it is $400 per person up front for a prescription insurance policy and co-pays from 5% to over 50% for brand-name and generic drugs up to $5,100 per person. Then 5% after $5,100. Let's use $3,000.
Fourth, there is no dental, vision or hearing coverage. So let's use another $3,000 per year. This adds up to $14,900 for annual out-of-pocket costs for a family of four. If you have an operation or give birth, the out-of-pocket cost will be a lot more.
For union workers, like the UAW or teachers, with good employer-paid health plans, the MFA makes no sense. There are 180 million citizens with employer-paid health plans. The vast majority of these employer-paid plans are working very well.
As a general factor, a doctor collects 55 cents of each dollar billed and can be less. This is with a combination of private insurance plans (mostly employer paid), Medicare, Medicaid and military/VA plans. Using MFA alone, the doctors will receive less money for their services.
In the end, the U.S. would evolve into a two-tier health care system. Doctors could form their own private practices and only accept patients who will pay the billed amounts resulting in a shortage of doctors under MFA and of course extended wait lines. This will be a disaster for the country and destroy a health care system that works well for most of the citizens. Not only will the out-of-pocket costs go up, but so will the taxes for the middle class and the low-income class, and they will be unable to choose their doctor.
DON DAMM
Sumter
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