In 2019, we are projected to spend nearly $80 billion on healthcare in Washington state alone under our current system. According to Dr. Gerald Friedman’s economic analysis, a universal public health insurance covering all essential health benefits would cost less than $70 billion, eliminating more than $10 BILLION in healthcare costs for Washington state residents. Yes, you read that correctly: it will SAVE Washington residents more than $10 billion!!! The savings isn't the only perk though.
Universal health public insurance saves on every aspect of federal and state funded healthcare administrations so the program has more money to fund healthcare. It minimizes the costs associated with provider administrative, insurance administration, fraud, and reducing the costs of prescription drugs by negotiating a better deal for everyone enrolled.
The benefits package would cover all essential healthcare, guarantee choice of provider, and nearly all out-of-pocket expenses giving Washington residents access to the healthcare they need when they need it. More people covered, more care and we still save money.