With recent political debates and clashes between the Democrats and the Republicans, you might have heard phrases like ‘Medicare-for-All’ and ‘Single-Payer Healthcare’ being thrown around. Most Democrats across the country supporting legislation that will lead to Medicare-for-all.
While it sounds good on paper, though, there’s a lot of ambiguity surrounding the term. So let’s look at it in detail.
What Does Single Player Health Care Mean?
A point of contention across America, Single-Payer Health Care refers to a universal healthcare coverage plan that is financed by taxpayer money. Theoretically speaking, it covers the cost of essential healthcare for all citizens under a single public system, hence the term ‘single-payer.’ Under this system, healthcare can be outsourced by the single-payer, usually the government, to private organizations—as it is done by Canada. However, the funding is sourced from taxpayers and paid for by a single public authority.
Single-payer System and Medicare
The current Medicare system started out as a true single-payer healthcare system for seniors but now it has evolved into a more capitalistic program. The government only covers certain medical conditions, while the rest must be covered by additional supplement plans offered by private insurance companies. Additionally, it is not a universal healthcare system as it only covers people who are aged 65 years or above.
Medicare for All and the Ongoing Debate
Medicare-for-all is similar to the single-payer healthcare system in most ways, apart from one thing. The healthcare costs won’t be covered by a single party, rather, by multiple sources. It will be paid for by the government but there will be certain limitations to it.
Basically, it would mean expanding Medicare to all ages, as a universal healthcare system. However, most people will have to turn to private organizations for additional coverage for specific health needs that aren’t covered by the original Medicare plan offered by the government.
What Do People Favor?
According to recent polls, 62% of the Americans who took part in a survey were in favor of Medicare-for-all. 33% had negative views of it, while 5% were confused about the entire thing. The results for single-payer healthcare were a little more divisive. 32% had a negative reaction to the proposed plan while 48% had positive views. While one could argue that the numbers seem pretty strong in both cases, Medicare-for-all seems to be more popular among the Americans with the flexible option of buying additional Medicare if needed.
This is a big choice that US. healthcare has to make. Currently, the US has the lowest ranking for healthcare outcomes, access, and equity while ranking 10th for administration efficiency among 11 developed nations of the world. The countries that scored the highest had one thing in common, universal healthcare under a single authority.
Americans Deserve Better!
Senior for Medicare is a premier healthcare insurance agency offering advisory and consultancy services for seniors in New York and New Jersey. Our team of expert healthcare insurance agents can help you get the best Medicare health plan NY for your needs by connecting you with the top insurance providers across the country!
Book a FREE consultation with us today and get the ideal coverage for your needs!
Call us at 800-276-1753 to learn more.