WASHINGTON, DC – We know our country’s health care system is in need of repair, but the Democrats’ latest proposal to radically upend our health care system is not the answer.
The government-run, single-payer health care program currently supported by more than half of the House Democrat caucus would have grave consequences, like raiding the Medicare Trust Fund and delivering the largest tax increases in American history. Here’s a look at just how this utopian policy would really impact families across the country.
“Medicare for All” is actually just government-run, single-payer health care for all.
The policy would outlaw virtually all private health care coverage – including employer-sponsored insurance – to create a single-payer system, run by the federal government, in which virtually all Americans would be forced into a one-size-fits-all plan administered by unelected bureaucrats in Washington.
It would also lead to the elimination of the Indian Health Service and gut current funding for Medicare, Medicaid, and the Children’s Health Insurance Program (CHIP), redirecting these critical dollars to the massive new program.
It ends employer and union sponsored health care, forcing the 158 million Americans who get their health care through their job into a one-size-fits-all government-run plan.
If you have private or employer-sponsored health coverage today, it would cease to exist under the Democrats’ plan. In 2018 alone, roughly two-thirds of the insured U.S. population under 65 (158 million people) will have private coverage through their job.
It will cost trillions of dollars, requiring massive new tax increases in order to pay for it.
The Democrats’ proposal would raise taxes on families and businesses by trillions of dollars – including taxes on income and payroll taxes, new taxes on unearned income, and a tax on stock and bond transactions – resulting in the largest tax increase in modern American history.
According to the Urban Institute, a single-payer program would cost as much as $32 trillion. Nothing about this policy is fiscally responsible.
It ends Medicare as we know it by raiding the Medicare Trust Fund that seniors have paid into their entire lives.
According to the Congressional Research Service, the Democrats’ proposal would use existing funds, likely including the Hospital Insurance Trust Fund, on top of massive tax increases to fund the proposal. It would raid Medicare’s Trust Fund, throwing into jeopardy the care of millions of seniors. The current Medicare program is running a deficit, with the Hospital Insurance Trust Fund scheduled to go bankrupt in 2026 – at which time it will no longer be able to pay full benefits. Instead of working to shore up the program, Democrats want to raid Medicare’s Trust Fund to pay for a government takeover of health care.