New Study Shows “Medicare for All” Would Save US $5.1 Trillion Over Ten Years

[Danno3314]

Private insurers usually discount services from medical providers somewhere between 35-65% (depending upon the service and how it's coded) so between what the insurer and the patient, the provider receives 35-65% of what they billed. Medicare discounts between 90-92% so, altogether the provider only receives 8-10% of what the billed. That's why it would save so much money. Now all you have to do is get all the medical providers in the country to take a massive pay cut and still be able to operate. Remember, right now only about 15% are on Medicare. Then a few percent are on disibility and maybe 5-10% (not sure) are on Medicaid (which both pay like Medicare).

I know this because I was an insurance broker for 15 years and all I sold was health insurance. I also have two parents in their 90's that live with me so I see all the bills Medicare pays for them.

Also remember the payroll deduction for Medicare that everyone currently working pays (and their employer matches), only covers the people currently on Medicare. It's a giant Ponzi, just like Social Security.