General Discussion
In reply to the discussion: AOC nails it on M4A! This is how you respond when someone asks "how will you pay for it?" [View all]Hermit-The-Prog
(33,544 posts)How is Medicare paid for? Medicare for all is a catchphrase for the expansion of the Medicare system to include everyone. If "M4A" costs less than the current system, it pays for itself. The difference is everyone pays 1 "insurance" provider instead of money being thrown at dozens.
We all pay for the current system, plus exorbitant overhead, plus exorbitant profits. It's like a regressive tax, such as a sales tax. "M4A" would eliminate considerable expense -- those profits for mansions and much of the overhead -- while spreading the cost more evenly among all. It would be similar to a progressive tax, such as the income tax, because it would subsidize the poorest people who cannot afford any health insurance now.
All of those logo-spattered skyscrapers that insurance companies like to show off cost a lot of money. Each of us with health insurance pays for those things, along with the private jets, extra mansions, golden parachutes, expense accounts, etc. We also pay for armies of doctors who do nothing for a living except review and deny claims.
Each dollar dispensed by Medicare costs about 1/4 as much in overhead as each dollar dispensed by for-profit wealthcare companies.