Opinion The Other Name For Bernie Sanders’ Single-Payer Plan: Benefits For Billionaires

18:41  13 september  2017
18:41  13 september  2017 Source:   thefederalist.com

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Bernie Sanders plans to introduce the latest version of his single - payer health-care program. But if he wants to follow Medicare as his model, then the Sanders plan could easily earn another moniker: Benefits for Billionaires .

Sanders , a longtime single - payer advocate, will hold a press Other federal health programs like the Veterans Affairs Health Benefits , Indian Health Service, and “Administrative costs and profits under a single payer plan would almost certainty be lower,” tweeted Kaiser Family Foundations’s Larry Levitt.

The Other Name For Bernie Sanders’ Single-Payer Plan: Benefits For Billionaires© The Federalist The Other Name For Bernie Sanders’ Single-Payer Plan: Benefits For Billionaires Editor’s note: The opinions in this article are the author’s, as published by our content partner, and do not necessarily represent the views of MSN or Microsoft.

On Wednesday, socialist Sen. Bernie Sanders plans to introduce the latest version of his single-payer health-care program. If past practice holds, Sanders will call his plan “Medicare for All.” But if he wants to follow Medicare as his model, then the Sanders plan could easily earn another moniker: Benefits for Billionaires.

An analysis released by the Congressional Budget Office (CBO) in August demonstrates how Medicare currently provides significant financial benefits to seniors at all income levels, including the wealthy. Specifically, the CBO paper analyzed lifetime Medicare taxes paid, and lifetime benefits received, by individuals born in the 1950s who live to age 65.

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His plan , the Medicare for All Act, describes a benefit package that is more generous than what other single - payer countries, like Canada, currently offer their residents. The Sanders plan goes into great detail about the type of coverage Americans would receive.

Bernie Sanders Makes His Pitch for Single Payer . Is Sanders going to offer a more realistic financing approach and accept other trade offs, such as benefit limits, or will this be a legislative utopia?

The non-partisan budget office found that at every income level, seniors received more in Medicare benefits than they paid in Medicare taxes. Men in the highest income quintile—the top 20 percent of income—received a net lifetime benefit from Medicare of nearly $50,000, even after taking into account the Medicare taxes and premiums they paid. Women received an even greater net benefit between taxes paid and benefits received at all income levels, reflecting both longer life expectancy (i.e., more benefits paid out) and shorter working histories (fewer taxes paid in).

The CBO analysis confirms prior work by the Urban Institute—no right-wing think tank—that Medicare pays out more in benefits than it receives in taxes at virtually all income levels. For instance, according to Urban’s most recent study, a high-earning male turning 65 in 2020 will pay in an average of $123,000 in Medicare taxes, but receive an average of $222,000 in benefits.

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And a growing number of elected Democrats are lining up behind a single - payer plan that is far more ambitious than anything enacted by […] The legislation spells out the benefits that Americans would receive—fully universal care, no copays—without diving into Bernie Sanders ' Medicare for All Plan .

Bernie Sanders (I-VT) is about to put Democrats’ newfound embrace of single - payer health care to the test. But in the absence of a workable single - payer plan to defend, Democrats have been able to talk up the idea of a single - payer Trump taps private equity billionaire for intelligence advisory role.

Melinda Gates Doesn’t Need Government Health Care

Some may quibble with the work by CBO and Urban Institute for containing an important oversight. In analyzing only Medicare benefits and Medicare taxes paid, the two papers omit the portion of Medicare’s financing that comes from general revenues—including the income taxes paid primarily by the wealthy. While it’s difficult to draw a precise link between Medicare’s general revenue funding and any one person’s income tax payments, it’s possible that—particularly for one-percenters—income taxes paid will offset the net cost of their Medicare benefits.

But regardless of those important details, the larger point still holds. Even if her taxes do outweigh the Medicare benefits received, why does Melinda Gates need the estimated $300,000 in health care benefits paid to the average high-income woman born in the 1950s? Does that government spending serve a useful purpose?

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Billionaires . CEO Pay. Bernie Sanders ' "Medicare for All" plan unveiled last week is an ambitious and (to many) enticing idea: a single , government-run health plan with generous benefits for everyone — just like most industrialized countries have enjoyed for decades.

Bernie Sanders ' "Medicare for All" plan , unveiled last week, is an ambitious and (to many) enticing idea: a single, government-run health plan with generous benefits At least three states have tried to enact single - payer plans in recent years: California in 2017, Colorado in 2016 and Vermont in 2014.

Moreover, if Medicare provides a net benefit to the average senior at virtually every income bracket, how does the program as currently constructed represent either 1) social insurance or 2) a sustainable fiscal model? Under an insurance model, some individuals “win” by receiving greater net benefits, while some individuals “lose” by not fully receiving back the money they paid in. But given that multiple analyses have demonstrated that virtually every cohort of seniors currently benefits from Medicare, then the program’s only true “losers” are the future generations of Americans who will fund today’s profligate spending.

We Don’t Have Money to Subsidize the Rich

Yes, Medicare currently does include some means testing for wealthy beneficiaries, in both the Part B (physician) and Part D (prescription drug) portions of the program. But common sense should dictate first that wealthy individuals not only should be able to opt-out of Medicare if they so choose—because, strange as it sounds, the federal government currently forbids individuals from renouncing their Medicare benefits—wealthy seniors should not receive a taxpayer subsidy at all. Whether in Medicare or Sanders’ socialist utopia, the idea that Warren Buffett or Bill Gates warrant taxpayer subsidies defies credulity.

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Sen. Bernie Sanders (I-Vt.) plans to unveil a new version of his "Medicare-for-all" proposal Wednesday. Sanders has made clear his preference, and on If the U.S. had created a single - payer system decades ago, as these other countries did, Americans might feel similarly content today.

Jonathan Chait, at New York magazine, says Bernie Sanders ’s Medicare-for-all bill “gets America zero percent closer to single payer .” As I’ll explain, it solves precisely none of the problems that have foiled every other single - payer plan in American history.

Despite this common-sense logic, liberals continue to support providing taxpayer-funded benefits for billionaires. In 2011, then-Rep. Henry Waxman (D-CA) said “if [then-Speaker John] Boehner wants to have the wealthy contribute more to deficit reduction, he should look to the tax code.” Perhaps Waxman views keeping wealthy seniors in Medicare as a form of punishment for the rich. After all, nearly nine in ten seniors have some form of supplemental insurance, and a form of “insurance” one must insure against may not be considered an unalloyed pleasure.

Regardless, Medicare faces its own financial reckoning, and sooner rather than later. In 2009—the last trustees’ report before Obamacare introduced fiscal gimmicks and double-counting into Medicare—the program’s actuaries concluded Medicare’s Hospital Insurance Trust Fund would become functionally insolvent this year. Given that bleak outlook, neither Medicare nor the American people can afford Sanders’ ill-conceived scheme to provide taxpayer-funded health benefits to wealthy 1-percenters.

Sanders unveils single-payer bill to cheers from supporters .
Sen. Bernie Sanders (I-Vt.) unveiled his single-payer healthcare plan on Wednesday to cheers and a brief “Medicare-for-all” chant from supporters.Nine Senate Democrats joined Sanders for the unveiling, with two possible presidential candidates, Sens. Cory Booker (N.J.) and Kirsten Gillibrand (N.Y.), getting into the camera shot.

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