Posted on Jun 25, 2017
Remember that California single payer plan? Yeah... never mind. - Hot Air
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Posted >1 y ago
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Here are some interesting facts I dug up from 2 minutes of Googling.
It does not cost more than the total GDP of the State.
$2.5 trillion = most recently reported GDP for California (2015)
$400 billion = reported estimate for this plan
$200 billion = reported estimate for "new" spending on this plan (required a waiver to use $200 billion of existing Medicaid and Medicare expenditures on the implementation of this plan)
So, the real comparison is $200 billion against $2,500 billion. Expensive, for sure, but hardly "more than the total GDP of the state".
I suspect you may have meant "total budget of the state". That would be true (roughly $170 billion, based on the reported budget for 2016-2017). However, keep in mind that implementing such a single-payer plan would eliminate any need for citizens to spend a dime on premiums, deductibles, and/or co-pays. It would also eliminate the need for employers to purchase health policies for their employees. So, much of those same resources could easily be shifted to help cover the costs of implementing this program.
It does not cost more than the total GDP of the State.
$2.5 trillion = most recently reported GDP for California (2015)
$400 billion = reported estimate for this plan
$200 billion = reported estimate for "new" spending on this plan (required a waiver to use $200 billion of existing Medicaid and Medicare expenditures on the implementation of this plan)
So, the real comparison is $200 billion against $2,500 billion. Expensive, for sure, but hardly "more than the total GDP of the state".
I suspect you may have meant "total budget of the state". That would be true (roughly $170 billion, based on the reported budget for 2016-2017). However, keep in mind that implementing such a single-payer plan would eliminate any need for citizens to spend a dime on premiums, deductibles, and/or co-pays. It would also eliminate the need for employers to purchase health policies for their employees. So, much of those same resources could easily be shifted to help cover the costs of implementing this program.
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