A new study argues that the establishing a national single-payer healthcare system would provide a major boost to the US economy, creating 2.6 million new jobs and infusing $317 billion in new business and $100 billion in revenues into the economy.
The study–completed by the Institute for Health & Socio-Economic Policy–challenges traditional arguments against single-payer healthcare. It found that costs were less than expected–only $63 billion more than what is currently being spent. Also, because healthcare spending effects so many other areas, it would have substantial influence on the economy.
The study says that by expanding Medicare to include the uninsured, those on Medicaid, and those on employer-sponsored health plans, would have the following immediate impacts:
- Create 2,613,495 million new permanent good-paying jobs (slightly exceeding the number of jobs lost in 2008)
- Boost the economy with $317 billion in increased business and public revenues
- Add $100 billion in employee compensation
- Infuse public budgets with $44 billion in new tax revenues