Health Care for All
Health Care for All
Health Care for All Discussion Board Post
Pros and Cons of Medicare for All (MFA)
In Medicare for All (MFA), everyone in the country would be enrolled in a federally funded program rather than obtaining health insurance from an insurance provider, frequently through their place of employment. Progressives now endorse it, and Sen. Bernie Sanders (D-Vermont) vigorously supported it during his bids for the Democratic presidential nomination in 2016 and 2020.4 The benefits and cons of this program are somewhat influenced by an individual’s financial level. Sanders’ new tax will not apply to anybody who earns less than $250,000 but would apply to anybody who earns more than $250,000 annually or who is in the wealthiest 0.1% of households.4 Additionally, since the government regulates and negotiates the cost of medicines and medical services, universal healthcare reduces healthcare costs for the economy as a whole. Furthermore, it would do away with the administrative fees associated with dealing with various private health insurers.4 Doctors would have to engage with one government entity instead of various private insurance companies, Medicare and Medicaid.
On the downside, some analysts worry that the government might not be positioned to use its negotiating position to lower costs as quickly and drastically as Sanders anticipates. Sanders, according to Thorpe, is being excessively optimistic about this proposal.4 Additionally, if people have no financial incentive to take care of their health, they might not do so as diligently.4 To control costs, governments must also restrict healthcare spending. Doctors who are not paid well can be less motivated to offer high-quality care.4 To reduce costs, physicians might treat patients for shorter periods of time. Providers also receive less money for innovative technology that saves lives.
Whether the MFA is an effective and efficient solution to the healthcare problem in America
There have been a variety of remarks on the growth of MFA. It results from decades of research, instruction, and campaigning, and its supporters see it as a reason for hope. America urgently needs an open discussion about health policy given the painful cost increases, service denials by insurance companies, and the almost 30 million uninsured citizens.2 In conclusion, it is a viable and practical solution to the issue of rising out-of-pocket expenses and a sizable uninsured population.2 However, to address its shortcomings, such as guaranteeing that doctors’ incentives are stable, it must be carefully planned and implemented.
Whether the current Medicare program can be extended to “All” in the current form
The current Medicare program works with eligible people. Although it is possible to extend the current Medicare program to “All,” it presents multiple design challenges that might be as costly as developing a separate program for “All” or “Medicare for All” from scratch. It would require eliminating current eligibility variations, enrollment, renewal processes, benefits, and payment and delivery systems of the existing Medicare structure.5 Additionally, services and opportunities available only to the vulnerable population would open for all.
Whether the healthcare system will accept what MFA will reimburse
The medical community is still divided on Medicare for All, with most doctors fearing a possible pay reduction. However, the Congressional Budget Office (CBO) anticipates that Medicare for All will boost healthcare utilization across society, leading to an increase in total provider income even if fee levels drop.3 In particular, the CBO estimates that, in 2030, total outpatient provider revenues, of which physician services currently make up 78%, would be 5 to 9% higher under Medicare for All than they would be today.3 If the MFA reimburses more than the present reimbursements, the healthcare system might accept it.
How the MFA Will Impact Private Insurance
The notion of doing away with private health insurance is at the core of the “Medicare for all” ideas supported by Senator Bernie Sanders and many Democrats.1 The whole healthcare system, which accounts for a fifth of the US economy, would be shaken by such a shift as hospitals, physicians’ offices, nursing homes, and pharmaceutical firms would all need to adjust to a new set of regulations.1 The federal government would be the new insurer for most Americans, and many would discover the value of the health insurance equities in their retirement accounts to be significantly reduced.
In conclusion, the MFA idea is designed for the good of all. It would help solve the problem of increasing healthcare costs and the high number of uninsured individuals. It is an appropriate plan for the US and would be the best if potential shortcomings are addressed. It is necessary that healthcare providers and physicians feel safe under the MFA by assuring their income will not reduce.
References
Abelson R, Sanger-Katz M. Medicare for All Would Abolish Private Insurance. ‘There’s No Precedent in American History.’ New York Times. 2019. https://www.nytimes.com/2019/03/23/health/private-health-insurance-medicare-for-all-bernie-sanders.html
Berwick D M. Stop fearmongering about ‘Medicare for All.’ Most families would pay less for better care. USA Today. Oct. 2019. https://www.usatoday.com/story/opinion/2019/10/22/medicare-all-simplicity-savings-better-health-care-column/4055597002/
Cai C. How Would Medicare for All Affect Physician Revenue?. Journal of General Internal Medicine. 2022 Feb;37(3):671-2.
Fisher S. Medicare for All: Definition, Pros and Cons. 2023. https://smartasset.com/insurance/medicare-for-all-definition-and-pros-and-cons
Tolbert J, Rudowitz R, Musumeci M. How Will Medicare-for-all Proposals Affect Medicaid? Kaiser Family Foundation, Sept. 2019 Sep 12;12.
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