Medicare for All is the commonsense solution to the current healthcare crisis.
As TIME Magazine notes in the article “What is Single Payer Healthcare and Why is it So Popular?” published in its Money section, the United States has a very complicated healthcare system, which makes it very expensive. However:
“Single payer would simplify all of this by largely cutting out the insurance and pharmaceutical companies and untethering coverage from your job. The losers are those middlemen, like private insurance companies, that make the current system so frustrating to navigate and politically fraught. Also, much to the dismay of the wealthiest households, their taxes would increase the most of any group.
But the working middle class—people who make too much money to qualify for Medicaid or the Affordable Care Act coverage subsidies—would benefit greatly, as would an employer’s HR department. “Employers spend a lot of money processing information for the insurance industry, identifying insurance plans, and negotiating,” says Friedman. “And that would just disappear.” Instead, the government (or the individual states, depending on how the logistics shake out) would negotiate prices, set plans, and deal with the paperwork.”
This article quotes economist Gerald Friedman who proposed a financing mechanism for HR 676: The Expanded and Improved Medicare for All Act in 2013. You can read his full report here.