Is Medicare for All a Viable Solution?
Providing “Medicare for All” is getting a lot of conversation right now. Is it a Viable solution?
Experts predict Medicare for All could cost $1.78 and 3 trillion. Doing the math, a family of four’s cost would be almost $27,000 per year.
The good news is Medicare gives us something valuable to help employers battle high prices… a reference point. The government calculates Medicare prices by giving providers a small profit above costs assuming the hospital is efficient and well run. There are group health insurance plans using Medicare as a baseline plus an additional percentage between 35% and 80% to pay doctors and hospitals.
These plans are often 20% to 40% less than the typical PPO plans. Ask your broker about Reference Based Pricing health plans. They could a viable solution for your company now.