Single-Payer — A Plan to be Embraced, Not Feared
(an excerpt of an article by Herbert Hoffman opednews.com)
A single-payer health care plan, as embodied in H.R. 676, is what it says it is–it is a plan to fund universal health care by extending Medicare to all Americans. The primary role of the federal government will be to collect and disburse funds, a task it does well. This will be accomplished by accessing the following sources of funds which will end our current “regressive” funding system with a “progressive” one that is far more equitable and humane:
* current health care line-items in the federal budget
* repeal of the Bush tax cuts for the wealthy
* closing of tax loop holes for corporations
* five percent surcharge on annual income of more than $184,00 and a 10 percent surcharge on annual income of $280,000 or more
* 0.25 percent transfer tax for both buyers and sellers placed on all stock and bond sales
* 4.75 percent payroll tax paid by employer and employee
* a health care tax paid by those not taxed as an employee and who can afford to pay
* significant savings in overhead costs (up to 25% compared to insurance premiums)
Today employer and employee together pay more than $13,000 to provide insurance for the average family of four where the employee makes $50,000 with insurance providing far from comprehensive medical coverage. Under HR 676, employer and employee together will lay out $4,750 to cover that same $50,000 employee and family. In addition a single-payer plan will have no deductibles or co-pays, thus further reducing the costs to individuals and families and simultaneously increasing the level of coverage for millions of Americans.
