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Single Payer System Would (At Least) Double New York State Budget

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posted on May, 22 2017 @ 04:35 AM
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So last week NY's legislature passed a bill that would abolish private insurance and run healthcare all through the state government. Well, the anlysis are in on the costs and they're not too pretty. The optimistic view is that it would require a doubling of revenues collected. The realistic view shows it would need to quadruple revenues.

The current average effective tax rate for state taxes in New York is 29%. That would need to double... they'd need to confiscate nearly 60% of their pay check, just to add healthcare. And who would they be helping? The 8% of New Yorkers who don't have coverage.

Link to Article

Here are some highlights:



New York collected about $71 billion in tax revenue last year. In 2019, when the single-payer plan would be enacted, the state expects to vacuum up about $82 billion. To pay for health care for all New Yorkers, though, the state would need to find another $91 billion annually.




Gerald Friedman, an economist at UMass Amherst and longtime advocate for single-payer health care, estimated in 2015 (when the New York Health Act was first passed by the state Assembly) that implementing single-payer in New York would cost more than every other function of the state government.




According to the Foundation for Research on Equal Opportunity, a Texas-based free market think tank, the annual price tag for the New York Health Act could be as high as $226 billion. In other words, it would require quadrupling the current tax burden in New York.


But here's the real kicker:



The gains would be quite limited, as Roy points out. In 2014, only 8.7 percent of New York's population lacked health insurance.

Give us all your money so that we can insure 8% more people.




posted on May, 22 2017 @ 04:48 AM
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a reply to: Dfairlite

Thats probably because they cost an X-ray of a femur at $2000..... Your health care costs are ridiculous in the US.



posted on May, 22 2017 @ 04:52 AM
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a reply to: Charlyboy

That's weird. My kid had an x-ray and minor surgery (to remove a foreign object he ate) for under $1,000 with no insurance a few years ago.



posted on May, 22 2017 @ 05:55 AM
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a reply to: Dfairlite

The hospitals are overcharging. We need a government take over to get costs under control.



posted on May, 22 2017 @ 05:57 AM
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a reply to: dfnj2015

Excellent sarcasm!



posted on May, 22 2017 @ 06:00 AM
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originally posted by: Dfairlite
a reply to: Charlyboy

That's weird. My kid had an x-ray and minor surgery (to remove a foreign object he ate) for under $1,000 with no insurance a few years ago.


I just got blood work done to see if I qualified as a bone marrow donor for my mother. $4,100. I'm on a HDHP which really means the insurance company lets the biller rake you over the coals to make sure you hit the deductible by year end. My employer puts a portion of the money into my HSA to offset the cost.

At the end of the day, that's why I'm all for Rand Paul's plan to add more competition to the market and allow more access to the HSA.

Single payer wouldn't work here without a drastic overhaul of the health care system.

edit on 22-5-2017 by Throes because: (no reason given)

edit on 22-5-2017 by Throes because: (no reason given)



posted on May, 22 2017 @ 06:01 AM
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originally posted by: Dfairlite
a reply to: dfnj2015

Excellent sarcasm!


It wasn't sarcasm. It is a false dichotomy to assume single payer would cost more. Everything costs more because the hospitals are an out-of-control cartel or monopoly with no limitations on greed.



posted on May, 22 2017 @ 06:03 AM
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a reply to: Throes

I had bilateral hernia surgery at a private hospital in Australia. I had no insurance but needed the surgery so decided to just pay cash. Cost me $4,500 including anaesthesia..... That is reasonable in my mind.



posted on May, 22 2017 @ 06:04 AM
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originally posted by: Dfairlite
a reply to: Charlyboy

That's weird. My kid had an x-ray and minor surgery (to remove a foreign object he ate) for under $1,000 with no insurance a few years ago.


I had a stint put in my heart in 2011 in Jersey City. The hospital charge my insurance provide $262,000 for about 10 minutes of work and 3 days in the hospital. The insurance provider got it knocked down by 50% eventually. That's more money that I would probably save from my take home pay in my lifetime.



posted on May, 22 2017 @ 06:05 AM
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originally posted by: dfnj2015
a reply to: Dfairlite

The hospitals are overcharging. We need a government take over to get costs under control.


😂 Yeah, our government has a great track record of that.



posted on May, 22 2017 @ 06:05 AM
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a reply to: Throes

Just for blood work? That is ridiculous..



posted on May, 22 2017 @ 06:06 AM
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a reply to: Throes

Unfortunately Governments are professional money wasters.



posted on May, 22 2017 @ 06:07 AM
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originally posted by: Throes

originally posted by: dfnj2015
a reply to: Dfairlite

The hospitals are overcharging. We need a government take over to get costs under control.


😂 Yeah, our government has a great track record of that.


As if laissez faire capitalism has a better record!!! I can't fight the corporations. So eff you!! Government is the only answer.



posted on May, 22 2017 @ 06:08 AM
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originally posted by: Charlyboy
a reply to: Throes

Just for blood work? That is ridiculous..


I have the bill right here in my hand. Not lying.



posted on May, 22 2017 @ 06:09 AM
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a reply to: dfnj2015

That is why costings blow out. Sorry but money is more important than peoples lives nowadays



posted on May, 22 2017 @ 06:09 AM
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originally posted by: dfnj2015

originally posted by: Throes

originally posted by: dfnj2015
a reply to: Dfairlite

The hospitals are overcharging. We need a government take over to get costs under control.


😂 Yeah, our government has a great track record of that.


As if laissez faire capitalism has a better record!!! I can't fight the corporations. So eff you!! Government is the only answer.


Sorry, I trust our government way less than you do. Social Security is a prime example.



posted on May, 22 2017 @ 06:11 AM
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a reply to: Throes

I believe you mate, my partner got a bill for an x-ray of her finger and a splint (not broken just sprained) from a hospital in California. They somehow decided an x-ray was $850 and a splint (lolly stick and tape) was $400.

Robbery



posted on May, 22 2017 @ 06:15 AM
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a reply to: Dfairlite

How do you come to the conclusion it would double the cost of healthcare? Please show us your math?

Please base your math on the current policy premium for family of 4 with normal co-pays. Not one of those BS cheapo plans.

Your assertion, put up or shut up!



posted on May, 22 2017 @ 06:24 AM
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a reply to: Dfairlite

until hospitals , doctors, pharmaceutical companies /medical devices, and suppliers, or anything that has the the words "health" and "care" attached to it, costs are brought under control and that includes insurance . nothing the government
does will fix it. all they are doing by requiring so called universal health care is placing more of a burden on people's pocket books, in some form or the other.

look they regulate and control utilities to a certain extent, they can and should do the same with health care if they want to bring down cost and provide for the health of All U.S. Citizens.

just requiring everyone to pay for health care is not going to fix anything.
edit on 22-5-2017 by hounddoghowlie because: (no reason given)



posted on May, 22 2017 @ 06:30 AM
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originally posted by: hounddoghowlie
a reply to: Dfairlite

until hospitals , doctors, pharmaceutical companies /medical devices, and suppliers, or anything that has the the words "health" and "care" attached to it, costs are brought under control and that includes insurance . nothing the government
does will fix it.


The CEOs who own the healthcare insurance companies also own the hospitals. The amount hospitals charge has nothing to do with how you administrate the insurance plans. The hospitals charge whatever they want and the insurance companies raise healthcare taxes by 20% every year.

Why are you arguing a private bureaucracy is better than a public one? What difference does it make if its private or public? Either way the American worker making the median wage is getting effed up the arse.

I don't know what the solution is but what we have now JUST ISN'T WORKING! If communism is the solution then take over the hospitals and insurance companies comrade. I really don't give a Shiite what tactic is used to kick the a holes to the street who are making it miserable for the rest of us!!!!!!!


edit on 22-5-2017 by dfnj2015 because: (no reason given)



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