How Medicare for All Could Eliminate the $600 Billion Private Insurance Industry [Fortune]
Anthem, Inc. (ANTM)
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Source: Fortune
How Medicare for All Could Eliminate the $600 Billion Private Insurance Industry The 2020 election A groundswell of support for Medicare for All among prominent Democratic presidential contenders has spooked the industry, with some candidates professing the private health insurance sector may (and even should) eventually be tossed into the dustbin of history. Sen. Bernie Sanders—author of a comprehensive Medicare for All bill—has never shied away from a fight with large corporations, and universal health care has long been one of his hobbyhorses. But candidates occupying a more centrist space in the Democratic Party, such as Sens. Kamala Harris, Kirsten Gillibrand, and Cory Booker, have all cosponsored Sanders’s legislation. The bulk of the Sanders bill would be paid for by a 7.5% payroll tax on employers and 4% from workers’ paychecks. The current system of Medicare and Medicaid would be scrapped and replaced with a significantly more generous program. Everyone in the United States w
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