Charles Blahous of Mercatus Center performed a study showing that the cost to move to this program would be $32 Trillion over 10 years. In his analysis he used some very favorable assumptions that the law would hit all of its targets - including dramatically reducing payments to health providers, reducing drug prices, and lowering administrative costs.
Senator Sanders countered with a Tweet claiming that the study shows that our country will save $2 Trillion dollars in moving to M4A. He thanks the Koch brothers and Mercatus for "proving" that his plan will work.
So where does the savings and funds to pay for the government program of Bernie's? If you read the media reports it will come from higher taxes, elimination of the insurance industry, and pay cuts to doctors who will accept 40% less at Medicare reimbursement.
On top of the likelihood that M4A will have to double tax rates what is most telling is the last point. For M4A to "show savings" the entire medical world will have to see their average reimbursement cut by 40%. Who all is in the medical world? Well, lets start with a few of those who would see their incomes whacked or in many cases see their jobs eliminated:
Nurses
Nurse Practitioners
Pediatricians
Hospitals
Billing Specialists
Insurance Agents
Speech Pathologists
Insurance Customer Service Representatives
Medical Device Manufacturers
Insurance Underwriters
Surgeons
Occupational Health and Safety Specialists
Therapists
Dental Hygentists
Physician's Assistants
Pharmacy Technicians
Lab Technicians
Home Health Aides
Certified Nursing Assistants
Medical Transcriptionists
Medical Records Technicians
Research Associates
Pharmaceutical Research Investigators
Optometrists
Maybe Senator Sanders should send out another tweet thanking all of these fine people who work hard to save lives and provide us with care needed to remain healthy. Because if his plan ever comes to fruition they will be the one's paying for it.
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