Skip to main content

View Diary: CBO: Public Option Would Reduce Premiums Across The Board (26 comments)

Comment Preferences

  •  300 billion (1+ / 0-)
    Recommended by:
    MissInformation

    I've come up with a number closer to $300 billion is government savings from a medicare buy in public option open to all over the ten year window. Mind you that is based on CBO numbers which tend to be very conservatives. Regardless of the number it would be in the hundreds of billions in savings for the government and roughly an equal level of savings for insurance purchasers.

    •  But this is just based... (1+ / 0-)
      Recommended by:
      MissInformation

      on a minimal public option.  Right now, about 30% to 40% of the money paid to insurance companies goes to their overhead, as compared to 3% of Medicare.  This is $500 billion per year, or $5 trillion over ten years.  This number is somewhat conservative - I have heard Representative Anthony Weiner say $600 billion per year or $6 trillion over ten years.  Also, a minimal public option would not let anyone who wanted to to buy into Medicare, so the saving would be less.  This is why we need a robust public option or, better still, a single payer system.  This is a major reason why all other industrialized countries spend less on health care than we do and get better outcomes.  

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site