For Immediate Release
Shana Alexandria Frahm
“Economic Analysis of the Medicare for All Act of 2017” Unveiled at Sanders Institute Gathering
WASHINGTON - Sanders Institute Fellows Michael Lighty and Robert Pollin answer the question on everyone’s mind about Medicare for All: How do we pay for it? From a gathering of progressives to the halls of Congress, they are offering a deep dive into the economics of guaranteeing universal health care through a single payer system.
In September 2017, Michael Lighty and RoseAnn DeMoro of National Nurses United proposed to Robert Pollin that the study be rigorously reviewed by a group of distinguished experts in the relevant fields. In the report, the economists outline seven major aspects of transforming the U.S. healthcare system, detailing step-by-step the actions needed to achieve truly universal health care, and its potential impacts on individuals, families, businesses and government.
The study reflects the reality of every other similar economy in the world and considers in-depth how to provide a Just Transition to people now employed in the private health insurance industry, such as providing them with retraining, relocation, job placement, as well as direct financial support as the country moves away from our existing private health insurance system.
In his review of the report, William Hsiao, K.T. Li Professor of Economics at the Harvard University T.H. Chan School of Public Health, said the study “presents an objective, unbiased, comprehensive and thorough economic analysis of Medicare for All. Professor Pollin and his co-authors have set a new high standard for transparency and clarity in presenting their analyses, estimations, and conclusions. The research methods they used to estimate both the cost increases and savings are sound. The assumptions they used to generate cost estimates are based on the latest empirical evidence. Consequently, the conclusions of this study on the overall costs and savings of Medicare for All are reasonable and scientifically sound.”
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Founded in 2017 by Dr. Jane Sanders and David Driscoll, the mission of the Sanders Institute is to revitalize democracy by actively engaging individuals, organizations and the media in the pursuit of progressive solutions to economic, environmental, racial and social justice issues. The Sanders Institute seeks to bring truth to the policy debate with rigorous research, innovative and common sense policy, presented in dialogue with a range of advocates in order to engage everyone in the issues that really matter.