Newsweek - March 5, 2020
"It's a dark day for my old pals in the insurance industry because one of their few arguments for keeping the current system placing profits over care, is gone," Potter said. "On top of the obvious medical benefits, America's jobs outlook will improve under Medicare for All. The data proves it."
A new analysis of the economic impact of a Medicare for All health care reform, like the signature policy proposal of Democratic presidential candidate Bernie Sanders, suggests that such a plan would not only increase wages for workers but also create additional jobs.
Sanders, a progressive senator from Vermont who is currently a close second to former Vice President Joe Biden, the Democratic frontrunner, has long advocated for a universal or single-payer health care system. Critics argue that such a policy would lead to mass job loss and be an economic drain on the country, but the new analysis published Thursday by the Economic Policy Institute (EPI) suggests the opposite would happen.
Josh Bivens, EPI's director who conducted the study, wrote in the report that Medicare for All "would be unambiguously positive" for the labor market in the U.S., leading to a "boost in wages and salaries" as well as an "increase in job quality, while producing "a net increase in jobs."
Although the analysis notes that policymakers should not "ignore the distress caused by job transitions" due to such a health care reform, Bivens wrote that job losses during a transitional period would be "relatively small." ...
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