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Medicare for All trades corporate profits for shared savings

Posted 11/20/19

Every working American is paying into Medicare right now. That includes anyone, legal or not, who is paid by a payroll. It does not include anyone who employers pay “under the table.” That is a …

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Medicare for All trades corporate profits for shared savings

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Every working American is paying into Medicare right now. That includes anyone, legal or not, who is paid by a payroll. It does not include anyone who employers pay “under the table.” That is a flaw for which American entrepreneurs are responsible.

The great flaw in the Affordable Care Act “Obamacare” plan was the ability of people to opt out. Nobody can legitimately opt out of Medicare.

The cost of an average family’s health insurance had risen from $369 in 2008 to $1,021 in 2017 and expected to rise another 5.6% by 2025. That is already happening and will likely move higher percentage-wise.

Your current Medicare withholding is 1.45%. Medicare for All will eliminate the need for private health insurance. And remember, nobody could opt out.

And that “all” includes American veterans. No need to travel and deal with the VA.

In 2019, not including the for-profit hospital systems, during the second quarter of the year, 85 publicly traded companies have amassed $47 billion in global profits from $545 billion in global revenues. That is according to corporate filings.

According to the CNBC financial network, 2018 health insurance profits in the U.S. were $6 billion. That is just the insurance profits. The Fiscal Times reports the total health care industry in 2018 stood at $50 billion.

Who owns the health care industry, including insurers and pharmaceuticals and for-profit hospital stocks? That gets into a murky area, but for certain, much is owned by other corporations and stock funds. So, who benefits from exorbitant hospital and drug costs? Could it be the insurance companies whose stock is owned by the hospitals and big pharmaceutical companies?

How much money could Medicare, which negotiates prescription prices and medical procedure costs, save America?

Dave Hager

Wilson

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