How Much Will Medicare for All Cost?

How Much Will Medicare for All Cost?

Representative Pramila Jayapal (D-WA), a co-chair of the Medicare for All Caucus, released a bill today that would adopt a single-payer system, where the federal government replaces private health insurance companies as the sole provider of most health care financing. While we are not aware of any estimates of this particular proposal, similar proposals have been estimated to cost the federal government roughly $28-32 trillion over a decade.

Representative Jayapal's Medicare for All Act would replace nearly all current insurance with a government-run single-payer plan and extend that plan to those who currently lack health coverage. The plan itself would be far more generous than either Medicare or most private coverage, as it would include no deductibles or copayments, would not restrict beneficiaries to networks of care, and would offer a broad suite of benefits including dental care, vision care, transportation for disabled and low-income patients, certain dietary and nutritional care, long-term care, and other long-term services and support. The proposal also establishes a global health budget, moves away from fee-for-service and toward lump-sum payments for many providers, includes a number of measures to hold down drug prices, and makes a variety of other changes to the health care system.

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