Insurance Costs

When it comes to insurance costs, single payer healthcare would eliminate out of pocket expenses when it comes to co-pays and deductibles to private insurers. This would make the U.S. government the primary insurer for everyone when it comes to health insurance in America. 

A single payer system would be paid through taxes, however contrary to popular belief this system will not cost more than the current private healthcare system. Under the current system, the average American spends $11,121 on health insurance a year and an employer contributes an additional $5,288 on health care costs due to the fact that most private healthcare is employer-provided and thus an employer will take that 5,288 dollars from a pool of money for wages and benefits. 

According to studies by Peterson-KFF Health System Tracker “ American workers are spending 55% more on insurance premiums than they were a decade ago.  The average American also now spends approximately $3,000 each year on services that are not covered by insurance.”

A single-payer healthcare system would fix this problem as by removing employer-based insurance, there would no longer be the need for an employer to take that $5,288 that could otherwise be used to increase pay for the average worker. Not to mention removing employer-based insurance would give the American proletariat more mobility economically as the average worker will not have to worry about losing health insurance coverage if fired or laid off from a job. 

Even the businesses and corporations that are owned by members of  bourgeoisie (capitalist class/business owners) in capitalist society will see a benefit as they no longer have to divert money to operations costs to health care. However what the bourgeoisie would do with the freed-up capital is another issue all in of itself worth discussing for another time.