Do researchers predict 'Medicare for All' would reduce overall US health care spending?
"Medicare for All," as the concept of a single government-administered health insurance system has become known, could reduce the overall cost burden of health care on the U.S. economy, according to nearly two dozen studies "from across the political spectrum."
So concluded a team of University of California researchers who looked at 22 different estimates of the impact of a comprehensive overhaul. All but three predicted net savings within one year. All the studies "suggested the potential for long-term cost savings" by slowing the rate of price increases. The two largest sources of savings identified were simplified billing and lower drug costs.
In 2018 the U.S. spent $3.6 trillion, nearly 18% of its gross domestic product, on health care. In its current form, spending is projected to climb 5.4% per year, reaching $6.2 trillion and nearly 20% of GDP in 2028.
