A New Congressional Budget Office Study Shows That Medicare for All Would Save Hundreds of Billions

[Mainecat]

A New Congressional Budget Office Study Shows That Medicare for All Would Save Hundreds of Billions

Source: Jacobinmag.com

"Last week, the Congressional Budget Office (CBO) released an estimate of the cost of implementing a single-payer health insurance program in the United States. The CBO’s report is more exhaustive than any other recent study on the subject and concludes that replacing our current system with a single-payer system would insure every American while reducing overall health spending in the country. 

Modeling the cost of a single-payer program is relatively straightforward. You begin with the status quo health care system and then make educated guesses about the following questions: 

How many more units of health care services will be demanded and supplied when price barriers are removed? 
How much more efficient will health insurance administration be after enrollment and payment systems are radically simplified? 
How much money will be saved by reducing the payment rates for health care providers and drug companies? 
The CBO answered these questions for four different single-payer designs and found that a single-payer system would save $42 billion to $743 billion in 2030 alone."

Read more: https://www.jacobinmag.com/2020/12/medicare-for-all-singler-payer-health-insurance-cbo-/ 

[Zambroski]

The "CBO says......".

[Sleepr2]

12 minutes ago, Mainecat said:

A New Congressional Budget Office Study Shows That Medicare for All Would Save Hundreds of Billions

Source: Jacobinmag.com

"Last week, the Congressional Budget Office (CBO) released an estimate of the cost of implementing a single-payer health insurance program in the United States. The CBO’s report is more exhaustive than any other recent study on the subject and concludes that replacing our current system with a single-payer system would insure every American while reducing overall health spending in the country. 

Modeling the cost of a single-payer program is relatively straightforward. You begin with the status quo health care system and then make educated guesses about the following questions: 

How many more units of health care services will be demanded and supplied when price barriers are removed? 
How much more efficient will health insurance administration be after enrollment and payment systems are radically simplified? 
How much money will be saved by reducing the payment rates for health care providers and drug companies? 
The CBO answered these questions for four different single-payer designs and found that a single-payer system would save $42 billion to $743 billion in 2030 alone."

Read more: https://www.jacobinmag.com/2020/12/medicare-for-all-singler-payer-health-insurance-cbo-/ 

Yeah, those government run programs are so well known for being efficient! 

[Mainecat]

I see the meme queen and his half sister have spoken.

[Sleepr2]

Just now, Mainecat said:

I see the meme queen and his half sister have spoken.

The post office and Amtrak are perfect example of McLiars utopian version of healthcare.🖕

[racinfarmer]

When I watch and read the news, the first thing I think of is "Yeah, these are the people I want running my healthcare..."

[steve from amherst]

I could get behind it if the gvmt owned the hospitals and paid the dr's directly. 

If it's " go anywhere ya want and we will pay the bill " Ill pass.

[Zambroski]

Just now, racinfarmer said:

When I watch and read the news, the first thing I think of is "Yeah, these are the people I want running my healthcare..."

It's like you don't see how well the USPS had done or something.

[Rigid1]

3 hours ago, Zambroski said:

It's like you don't see how well the USPS had done or something.

Well they do some things well..

 

 

 

[Fireball 440]

2 minutes ago, Rigid1 said:

Well they do some things well..

 

 

 

I didn't get my January mortgage statement.... first time ever.

The Caliber sled ramp I ordered on Dec 7th was lost by FedEx in St. Paul on the 10th. I opened a case today and fedex needs 72 hours to check the St. Paul hub.

 

[Ez ryder]

3 hours ago, Mainecat said:

I see the meme queen and his half sister have spoken.

So in your whole fucking life when have you ever seen a govenment program run efficiently and on budget? BTW ever seen any story in your life about the VA ? Nuff said 

[Mainecat]

33 minutes ago, Ez ryder said:

So in your whole fucking life when have you ever seen a govenment program run efficiently and on budget? BTW ever seen any story in your life about the VA ? Nuff said 

If it was a conspiracy theory you would be the first one in line for it.

[Ez ryder]

1 hour ago, Mainecat said:

If it was a conspiracy theory you would be the first one in line for it.

So you have no govenment program you can point to that has run in budget and run well then ? Got it 

[Ez ryder]

Just now, Ez ryder said:

So you have no govenment program you can point to that has run in budget and run well then ? Got it 

 

[SayatodaU.P.eh?]

12 hours ago, Zambroski said:

It's like you don't see how well the USPS had done or something.

 

[steve from amherst]

11 hours ago, Fireball 440 said:

I didn't get my January mortgage statement.... first time ever.

The Caliber sled ramp I ordered on Dec 7th was lost by FedEx in St. Paul on the 10th. I opened a case today and fedex needs 72 hours to check the St. Paul hub.

 

Your wife didnt pay the mortgage online did she? Mine did it once and they went to papaerless after that.

[Highmark]

15 hours ago, Zambroski said:

The "CBO says......".

Estimates, educated guesses.     Show me the last time the CBO was right about something.    

The only reason Medicare can be shown as more efficient is because of the way the administrative expenses are measured as a % of cost of care.   Because Medicare treatments are so expensive for the elderly it massively dilutes the administrative costs.   Compare its administrative costs on a per patient basis and private insurnce is more efficient.   Plenty of actual data on that and not "educated guesses." 

Medicare's "efficiency" is the biggest fallacy in healthcare. 

Edited December 29, 2020 by Highmark

[Fireball 440]

8 hours ago, steve from amherst said:

Your wife didnt pay the mortgage online did she? Mine did it once and they went to papaerless after that.

Nope mortgage is always paid by me by mail. I'll call and pay over the phone after new years.

[BobRoss]

I don't think I want the government to run my healthcare after being in the military for 11 years. I don't think the government has ever heard of lean six sigma. Sure its possible it could be done, but it is most likely going to be very inefficient and very costly like almost all government run programs.

[Ez ryder]

4 hours ago, BobRoss said:

I don't think I want the government to run my healthcare after being in the military for 11 years. I don't think the government has ever heard of lean six sigma. Sure its possible it could be done, but it is most likely going to be very inefficient and very costly like almost all government run programs.

So you did not enjoy waiting around the VA for the whole day every time ? What is wrong with you 

[Angry ginger]

there is zero reason for the VA heathcare system to exist at it's current scale.   Pay the same money to other hospitals/med groups just like is done with medicare.  

 

 

[Zambroski]

23 minutes ago, Angry ginger said:

there is zero reason for the VA heathcare system to exist at it's current scale.   Pay the same money to other hospitals/med groups just like is done with medicare.  

 

 

Yes.  At it's inception, the VA hospital system was to provide specific and specialized care for it's patients.  Ultimately providing quick and timely procedures and cures.  What it has become is another government run SNAFU of complete fraud, waste and substandard services with substandard employees.  Trying to turn the VA around is an almost impossible task that is only second to trying to turn the USPS around.

[BobRoss]

15 hours ago, Ez ryder said:

So you did not enjoy waiting around the VA for the whole day every time ? What is wrong with you 

I was not specifically talking about the VA. Its the entire military. I love our military and want a strong military, but damn, the way they run the budget is a disgrace.

 

I bet we could save so much money by cleaning up the way we spend money in the military. It is very much the "I have a budget for the year, and if I don't spend it now, I wont get the budget next year". So they go and buy stupid unnecessary shit instead of just rolling that budget over. I don't know how many pallets of ammo just get absolutely wasted just because we are told if we don't use it, we wont be able to get enough next time. This is with everything. Office equipment, normal supplies, food. Everything. It is terrible.

 

The sad thing, is that is how all government runs their budget.

[Highmark]

Another laughable topic from those ignorant to the real facts.

https://www.forbes.com/sites/theapothecary/2011/06/30/the-myth-of-medicares-low-administrative-costs/?sh=4ee0b2c4140d

Many people wrongly believe that Medicare is more efficient than private insurance; that view was often stated by champions of Obamacare during the debate preceding the law's enactment. These advocates argued that Medicare's administrative costs — the money it spends on expenses other than patient care — are just 3% of total costs, compared to 15% to 20% in the case of private, employer-sponsored insurance. But these figures are highly misleading, for several reasons.

Medicare is partially administered by outside agencies

First, other government agencies help administer the Medicare program. The Internal Revenue Service collects the taxes that fund the program; the Social Security Administration helps collect some of the premiums paid by beneficiaries (which are deducted from Social Security checks); the Department of Health and Human Services helps to manage accounting, auditing, and fraud issues and pays for marketing costs, building costs, and more. Private insurers obviously don't have this kind of outside or off-budget help. Medicare's administration is also tax-exempt, whereas insurers must pay state excise taxes on the premiums they charge; the tax is counted as an administrative cost. In addition, Medicare's massive size leads to economies of scale that private insurers could also achieve, if not exceed, were they equally large.

Administrative costs are calculated using faulty arithmetic

But most important, because Medicare patients are older, they are substantially sicker than the average insured patient — driving up the denominator of such calculations significantly. For example: If two patients cost $30 each to manage, but the first requires $100 of health expenditures and the second, much sicker patient requires $1,000, the first patient's insurance will have an administrative-cost ratio of 30%, but the second's will have a ratio of only 3%. This hardly means the second patient's insurance is more efficient — administratively, the patients are identical. Instead, the more favorable figure is produced by the second patient's more severe illness.