Friday, October 7, 2016

Politifact.com Weighs In On ColoradoCare Revenues

Not much to add.  More food for thought.
___________________
Report says ColoradoCare would have higher revenues than McDonald’s
By Alan Gathright on Wednesday, May 4th, 2016


An independent analysis says Colorado's proposed universal health care system would have $38 billion in projected revenues …

The report, by the Colorado Health Institute, is a primer on the potential benefits and drawbacks of ColoradoCare, a proposed state health care cooperative that would resemble single-payer health care systems like those in Canada and Europe. …

"Supporters estimate ColoradoCare would have $38 billion in annual revenues," the report states.

We examined the statement that ColoradoCare’s projected revenues would be $38 billion and overshadow huge corporates. We found that the number is right in theory, but it depends on the federal government signing off on a first-of-its-kind health system for Colorado. …

An economic analysis by supporters says ColoradoCare would produce a net savings of $4.5 billion for residents and businesses by eliminating private insurance profits, streamlining paperwork and more efficiently delivering services. …

About $25 billion would come from state taxes. Employers would pay 6.67 percent in payroll taxes and employees would contribute 3.33 percent, for a total of 10 percent of the payroll. Self-employed people would pay 10 percent of their net income. {and not having to pay exorbitant health insurance premiums!}

The projected $25 billion in tax revenues have been independently confirmed by an economist at the Colorado Legislative Council, which provided a revenue impact report to the state board that reviews the language and legality of an initiative's ballot title and summary. …



No comments:

Post a Comment