U.S. Senator and presidential candidate Bernie Sanders recently released his health-care plan, which he calls “Medicare for All.” With a name like that, one would think that the proposal involves extending the Medicare system, which provides health-care insurance to the elderly, to all Americans. But Sanders's plan is something different. It would outlaw most forms of private health insurance and eliminate all out-of-pocket costs — something that Medicare doesn't now do.
This isn't the most radical proposal imaginable. Sanders's plan wouldn't replace private health care with a government-run system like the U.K.'s National Health Service. But banning private health insurance might prove politically unpopular. The Affordable Care Act (Obamacare), which was much more of a compromise between government and industry, is viewed favorably now, but was unpopular for several years after it was passed:
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