A four-year transition programwould require employers to fork over what they now pay to insurersto the federal government instead, an estimated $8.8 trillion over10 years. (Photo: Bloomberg)
Estimates from outside the Warren camp have put the cost of herproposed Medicare for All plan at as high as $34trillion over 10 years, but Senator Elizabeth Warren, D-MA, herselfhas finally released details on how the plan would be paid for andputs the cost at $20.5 trillion.
CNN reports that the Warren estimate comes throughthe assistance of "prominent economists and health policy experts"who "reached that figure in large part by requiring state and localgovernment to continue paying the $6 trillion they now spend onMedicaid, the Children's Health Insurance Program and publicemployee premiums." The projection also assumes loweradministrative costs, lower drug prices and a resulting lower totalof health care spending.
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Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
