UPDATED 4:07 PM PT — Sunday, November 17, 2019
Senator Elizabeth Warren’s plan to fund ‘Medicare for All’ is looking to hit big businesses with contribution fees and keep smaller companies from expanding.
This would happen by way of Warrens so-called ‘Medicare Employer Contribution Fee’ — which is one of three ways the senator has proposed to singularly fund the initiative. It would require businesses with 50 or more employees to pay approximately $15,000 for each employee, according to the average cost of each employee’s healthcare.
The announcement from the 2020 hopeful came after the senator received widespread demand to be more transparent and give a concrete plan for funding her version of ‘Medicare for All.’
I've spent a lifetime studying why families go broke—and the number one reason is health care costs. That's why I'll fight my heart out for #MedicareForAll. Here's how we get there. pic.twitter.com/atrX8F7nk3
— Elizabeth Warren (@ewarren) November 15, 2019
“Your signature, Senator, is to have a plan for everything — except this,” stated presidential candidate Pete Buttigieg. “No plan has been laid out to explain how a multi-trillion dollar hole in this ‘Medicare for All’ plan — that Senator Warren is putting forward — is supposed to get filled in.”
— Team Pete HQ (@PeteForAmerica) November 16, 2019
Businesses under that 50 employee threshold would not be required to pay into the program and its employees would still receive coverage under the ‘Medicare for All’ umbrella. The plan would also look to tax companies based on the price of previous medical coverage offered — so if it offered a generous plan prior to ‘Medicare for All,’ businesses would pay the price.
Although some estimated costs of the plan come to at least $25 trillion, Warren implied there were inconsistencies and that an exact cost could not be determined at this time.
“I continue to work on parts of it, and for me, one of them is the cost,” said Warren. “As you know, ‘Medicare for All’ estimates vary by trillions and trillions of dollars.”
Other options laid out to fund Warren’s plan include trillions of dollars in taxes on the so-called ‘one percent’ and other corporations.