Medicare for All by Abdul El-Sayed

Author:Abdul El-Sayed
Language: eng
Format: epub
Publisher: Oxford University Press
Published: 2020-06-15T00:00:00+00:00

Repurposing Existing Government Funds

The primary way to pay for M4A is to use money the government is already spending on healthcare. The federal government already finances almost half the nation’s healthcare spending. M4A can combine existing federal spending on Medicare, Medicaid, and private insurance subsidies into a single stream to be used for M4A.

One choice that will need to be made is whether states should contribute the money they currently spend on Medicaid programs and private insurance premiums into the overall M4A pool. Capturing this money would decrease the amount of new revenue that needs to be raised at the federal level. On the other hand, leaving this money with the states would allow them to direct the funds to other programs that have been crowded out by Medicaid over the past several decades, such as public education. Alternatively, if M4A was administered at the state level (an option described in Chapter 4), this money could be left with the states and also repurposed to cover M4A.

In any case, existing government funds would provide the single largest source of financing for M4A.

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