A recent study by three high-level economists shows some of the flaws in the current Medicare system, which means placing a large bet on Medicare for All may be problematic. Main points:
- Medicare provides more generous access to providers and new treatments than public programs in other developed countries.
- Three major shifts make a uniform design less efficient today than when Medicare began in 1965: rising income inequality, a dramatic expansion of expensive medical technology and the mounting economic costs of the plan with tax financing of the system.
- The recommendation is not just a blanket “Medicare for Everyone,” but a base system that everyone can use (less generous than current Medicare) with the option of “topping up” for a private insurance plan as a supplement, with individuals choosing their own coverage.