No. of Recommendations: 1
You have a "more efficient system" by cutting reimbursement rates to providers. Eliminating 50 separate state Medicaid bureaucracies. Eliminating the 5,978 private health insurance carriers. And eliminate the staff at providers that feed paperwork to the bureaucracies. There's a start.
Some years ago, the CBO did a revenue projection for a 5% VAT. They estimated $380B by 2028.
cbo.gov - Budget optionsTo totally replace the $1.645T currently being spent on private health insurance in the US, would require a VAT of about 22%. As costs are lowered by eliminating redundancies, the resulting VAT would be lower. The point to keep in mind is we are paying $1.6T NOW, so any improvement realized from a single payer system would be a gain.
Steve
