Thursday, 12 March 2015 00:00

Study: Single-payer health would save $45b in N.Y.

Written by  Claire Hughes | Times Union
Assemblyman Richard Gottfried (D-Manhattan) is a main support of single-payer health care in New York. He says the current system doesn't work. Assemblyman Richard Gottfried (D-Manhattan) is a main support of single-payer health care in New York. He says the current system doesn't work.

A single-payer or universal health plan would save New Yorkers $45 billion a year in health-care expenditures, according to a study released Tuesday by a University of Massachusetts at Amherst professor.

If such a taxpayer-supported health plan were enacted, 98 percent of New York households would pay less than they do now and 200,000 jobs would be created due to the savings accrued by business, according to Gerald Friedman, chair of the Economics Department at UMass Amherst.

“This really changes the debate in New York,” said state Assembly Health Committee Chair Richard Gottfried, D-Manhattan.

Gottfried has for 14 years proposed a single-payer health system in New York. Some labor unions and doctors groups have supported the idea; the insurance industry, which would become unnecessary, oppose it.

Friedman’s study shows $71 billion would be saved in the first year of a universal health plan in New York:

* $26.5 billion by eliminating private health insurance administration and profit;

* $20.7 billion by reducing medical practitioners’ administration of health insurance claims;

* $2 billion by eliminating employer administration of health insurance benefits;

* $5.4 billion by reducing fraudulent billing; and

* $16.3 billion by capturing savings from overpriced drugs and medical devices.

Link to original article from the Times Union

Read 2005 times

Featured News

  • White House set to adopt sweeping curbs on carbon pollution +

    The Obama administration will formally adopt an ambitious regulation for cutting greenhouse-gas pollution on Monday, requiring every state to reduce Read More
  • 'Corporate Influence Has Won': House Passes Anti-GMO Labeling Bill +

    Legislation dubbed the DARK Act had backing of powerful groups who poured money into defeating state-level GMO-labeling efforts. The U.S. Read More
  • For Many Americans, the Great Recession Never Ended. Is the Fed About to Make It Worse? +

    Why it’s a mistake for the Federal Reserve to raise interest rates this year. When the Federal Reserve considers raising Read More
  • How the 2000 Election in Florida Led to a New Wave of Voter Disenfranchisement +

    A botched voter purge prevented thousands from voting—and empowered a new generation of voting-rights critics. On November 7, 2000, Willie Read More
  • Facing Down Taser, Sandra Bland Was Told By Officer: "I Will Light You Up!" +

    Betraying arrest report, newly released footage shows how arresting officer violently escalated traffic stop by threatening unarmed black woman with Read More
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51

Does Your Legislator Support the ERA

 

ERAMap