1 big thing ... Inside Warren's plan: What it would really do
Sen. Elizabeth Warren's Medicare for All takes on every major health care industry — insurers, doctors, hospitals, drug companies — in her quest to expand coverage and lower costs for the middle class, Caitlin Owens writes.
- Why it matters: We've never tried any cost containment measures that are remotely close to being as aggressive as Warren's.
Experts say you can only wring so much money out of the system before it starts to impact care — and Warren is wringing out a lot.
- Private insurance would be eliminated.
- Americans would no longer have to worry about reaching their deductibles or whether their doctors are in their insurance network.
- They'd pay no premiums and have "virtually no" out-of-pocket costs, according to Warren. They'd have expansive health benefits, including long-term care, audio, visual and dental.
To pay for all of this, providers would see drastic payment reductions.
- Drug prices would plummet.
The bottom line: The days of American health care as big business would likely be over. Patients may win financially, but there's no way of knowing at what cost to the quality of their care.