at Stevens Institute of Technology School of Business
Hoboken, NJ, February 28, 2020 - Echoing the sentiments of Democratic candidates Biden, Bloomberg, Klobuchar and Buttigieg from their debate podiums in South Carolina earlier this week, healthcare expert and author, Edward Eichhorn, spoke of the ills of Medicare-for-all as a guest lecturer yesterday at the School of Business on the campus of the Stevens Institute of Technology in Hoboken, NJ.
Said Eichhorn: “It is time for us to embrace a practical universal healthcare plan for America that maintains choice and reduces cost. The Eichhorn & Hutchinson plan does that. Medicare-for-all does not.”
The Healing American Healthcare Coalition endorses what it refers to as a well-conceived universal healthcare plan co-authored by Mr. Eichhorn and Dr. Michael Hutchinson. According to the Coalition, if the United States were to adopt this approach, employers would be required to provide healthcare plans, but could choose between being self-insured, buying private insurance, or selecting a competitive public option.
By fostering competition in the private insurance market with a cost-effective public option, the Eichhorn-Hutchinson plan is expected to reduce employer healthcare costs by as much as 30%.
The Coalition believes that implementing the Eichhorn-Hutchinson universal healthcare plan would not lead to an increase in government funding, and it is likely that federal and state costs for Medicaid would actually decline. In total, it’s estimated that the Eichhorn-Hutchinson plan could save up to one trillion dollars per year.
Key Outcomes Under the Eichhorn-Hutchinson Plan
- All employers provide health insurance
- Public option funded by tax on employers who choose this option for their employees
- Substantially lower than current health care costs incurred by employers
- Public option will create price competition
- Preserves a role for private insurers
- Healthcare costs can be reduced to 12 percent of GDP over ten years (from the current 19%)
- Medical billing will be simplified
- Medical-related bankruptcies in the U.S. will decrease by 50 percent
- Drug prices will be negotiated on a national level
- Life expectancy in the U.S. will improve
- Insurance premiums will decrease by as much as 30 percent
- Up to one trillion dollars in cost reduction annually
For more information about the Eichhorn-Hutchinson plan visit HealingAmericanHealthcare.org.
About Healing American Healthcare Coalition
The Healing American Healthcare Coalition is an independent organization dedicated to providing its members with timely and insightful information and reports concerning universal healthcare proposals and programs. The Coalition is not a political action committee, nor is it affiliated with any political party. The Coalition’s mission is to be a trusted objective source regarding the current discussions on potential healthcare initiatives that could have an impact on the health and well-being of Americans today and in the future.