Some Democratic 2020 hopefuls point to their support of Medicare-for-all to prove their progressive bona fides. But other Democrats have stated the plan is not politically or economically feasible because of the large tax increases required, preferring instead to stabilize the Affordable Care Act.
Jacobs said that as it is, 80 percent of hospitals lose money on their Medicare patients, a loss that is likely to intensify under a Medicare-for-all plan.
“If they don’t have private insurance to cover the gap, they are going to cover hundreds of billions of dollars of losses,” he said. “They are going to have to lay off workers. Do this in one full swoop, this would create a recession just on its own.”
The Associated Press contributed to this report.
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