New Projections From Nation’s Largest Health Care Coalition Show Health Care Reform Would Produce Huge Savings
National Coalition on Health Care
Press Release
May 23, 2005
System-wide health care reform would save much more money than it would cost, according to economic projections released today by the National Coalition on Health Care.
In four scenarios for reform analyzed by Professor Kenneth Thorpe of Emory University, the investment needed to achieve universal health coverage would be more than offset by savings. In each case, the cost of a reformed system would be much less than the cost of continuing with the current system.
Announcing these new findings, the Coalition’s president, Dr. Henry E. Simmons, said, “What this economic modeling shows unambiguously is that done right, health care reform will save America a great deal of money – while at the same time assuring health coverage for all Americans and dramatically improving health care.”
From Professor Thorpe’s PowerPoint presentation:
Total change in spending for years 2006 through 2015 under four scenarios (in comparison with the status quo):
$320 billion reduction – Employer mandate supplemented by individual mandate
$320 billion reduction – Expand existing programs to expand coverage
$370 billion reduction – Develop new program modeled after the FEHB (federal employees’ program)
$1136 billion ($1.136 trillion) reduction – Universal publicly financed program (“single payer”)
National Coalition on Health Care:
http://www.nchc.org/
Press Release:
http://www.nchc.org/news/press_releases/2003/2005_05_23.pdf
KFF video HealthCast of the press conference:
http://www.kaisernetwork.org/health_cast/hcast_index.cfm?create=high_windows&linkid=1&display=detail&hc=1439
Kenneth Thorpe’s PowerPoint:
http://www.nchc.org/materials/nchcpressclub-final%20copy.pdf
Comment: The Honorary Co-Chairs of the National Coalition on Health Care are former presidents George Bush, Jimmy Carter and Gerald Ford. The member organizations of the Coalition represent about 150 million Americans and include business, labor, consumer, religious, provider, and health and pension fund interests. Every effort has been made to remove any partisan agenda from the process. Our former presidents can attest to that.
A highly objective process was used to evaluate the models of reform which would provide comprehensive coverage and higher quality care for everyone.
Which model would you choose?