WASHINGTON, D.C. – The U.S. Chamber of Commerce strongly opposes the introduction of a new House “Medicare for All” proposal because it would eliminate the private insurance coverage that more than 180 million Americans depend on for their healthcare needs.
“The newly proposed ‘Medicare for All’ legislation would implement a highly disruptive single-payer plan, under which employer-sponsored insurance would be displaced by an untested, experimental program,” said Neil Bradley, executive vice president and chief policy officer, U.S. Chamber of Commerce. “Employer-sponsored insurance has served as one of the most stable and reliable components of our health system and implementing this new House ‘Medicare for All’ proposal would eliminate the private insurance coverage. At a time when American needs health coverage more than ever, Congress should focus on bolstering employer-sponsored health system, not dismantling it.”
A recent analysis on the impact of Medicare for All underscores how disruptive such a sweeping change would be for consumers. A single-payer system will lead to:
- Higher out-of-pocket costs and premiums for millions of American and employees;
- A reduction in access to providers and hospitals, and;
- A chilling effect on medical innovation that has been so fundamental to our nation’s response to COVID-19.
Most concerning, Medicare for All would do little to expand access to insurance for those who need it or address the cost challenges facing individual families. The employer sponsored system provides innovative and value driven coverage, which is a highly valued and vital benefit for the America’s workforce. That’s why the U.S. Chamber of Commerce recently launched Protecting Americans’ Coverage Together (PACT). The PACT Campaign advocates for solutions that will build on the comprehensive and flexible coverage on which American employees depend for their health and financial security.