To realize even the most charitable cost estimates of M4A, the pay of medical professionals (doctors and nurses) and hospitals would have to be cut by 30-40%.
[July 31, 2018]
"On July 31, I published a study with the Mercatus Center at George Mason University estimating the added costs to the federal government of establishing a national single-payer healthcare system. That study presented a lower-bound estimate of $32.6 trillion in added federal costs over the first 10 years of full implementation, with the caveats that this estimate reflected several extremely favorable assumptions, and that actual costs were likely to be substantially higher. Among those favorable assumptions was that lawmakers would uphold Senator Bernie Sanders’ Medicare for All (M4A) bill’s specification that healthcare provider payments would be cut down to Medicare rates, which currently average about 40% lower than the rates paid by private health insurance, and well below providers’ reported costs of providing services."
https://economics21.org/m4a-reimbursements-blahous
[July 31, 2018]
"On July 31, I published a study with the Mercatus Center at George Mason University estimating the added costs to the federal government of establishing a national single-payer healthcare system. That study presented a lower-bound estimate of $32.6 trillion in added federal costs over the first 10 years of full implementation, with the caveats that this estimate reflected several extremely favorable assumptions, and that actual costs were likely to be substantially higher. Among those favorable assumptions was that lawmakers would uphold Senator Bernie Sanders’ Medicare for All (M4A) bill’s specification that healthcare provider payments would be cut down to Medicare rates, which currently average about 40% lower than the rates paid by private health insurance, and well below providers’ reported costs of providing services."
https://economics21.org/m4a-reimbursements-blahous