Government Shutdown Ends, But Health Care Crisis Looms
After 43 days, the government shutdown has come to a close. Although vital services are resuming, many are left worrying about the repercussions of decisions made during this tumultuous time. Millions who were deprived of SNAP benefits—16 million of whom are children—will finally have access to food again. Federal employees will receive their back pay, and hopefully, airline schedules will stabilize.
However, there’s a dark side to this relief. While some may breathe easier, tens of millions are facing rising premiums, and 15 million Americans are at risk of losing their current health coverage. In a nation already grappling with the highest health care costs in the world, studies suggest that as many as 50,000 lives could be lost yearly due to this debacle. The end of the shutdown marks the beginning of renewed pain for many.
It’s frustratingly evident that our economy continues to benefit the wealthy. As the rich get richer, working families are increasingly struggling to manage day-to-day expenses.
Good News for the Wealthy
If you happen to be Elon Musk, your wealth has soared by $163 billion since the election of Trump. In fact, with Tesla’s plans for robotic production, he may very well become the world’s first trillionaire—though those robots are likely to eliminate many high-wage jobs in the process.
But Musk isn’t alone. Other billionaires in attendance at Trump’s inauguration, like Jeff Bezos and Mark Zuckerberg, have seen significant gains, too. The income gap is glaring; the top 1 percent now holds more wealth than the bottom 93 percent combined. While corporate profits rise and CEOs pocket enormous salaries, hardships continue for the rest of the population.
Bad News for Everyone Else
And things are likely to worsen due to the recent measures signed into law by the President.
For instance, premiums for a 60-year-old couple earning around $85,000 annually could surge from $602 to $2,647, effectively quadrupling their costs by about $24,500 each year. Adding in out-of-pocket expenses, these families might spend almost half their income on medical care—this is simply not feasible.
A family of four making about $44,000 would see their monthly premiums balloon from $85 to $253, while an average individual making $32,000 would face a jump in premiums from $58 to $180. All this to provide the top 1% with a tax cut worth $1 trillion. It feels almost absurd; many will lose their healthcare while a select few get a financial break.
President Trump and some Congressional Republicans argue that the Affordable Care Act (ACA) is inefficient, which, while true, they are proposing even worse alternatives.
Details are still murky, but their plan seems to involve eliminating the ACA tax credit—averaging about $6,500—and providing checks to around 20 million people to buy their own health care. But how does one cover a $150,000 cancer treatment bill with a $6,500 check? It’s hard to fathom how an expectant mother can manage hospital costs that average $20,000 with such a limited amount. This plan could trigger even more medical bankruptcies and leave Americans without essential care.
Moving Forward
In the immediacy, extending the ACA tax credit is essential to prevent drastic premium hikes. The $1 trillion in cuts to Medicaid and the ACA needs to be reversed to protect those 15 million Americans from losing their health coverage. Without action, too many individuals face suffering and even death.
Long-term, we need a real dialogue about the kind of healthcare system we desire as a nation. Some critical questions to consider include whether we should be the only major country without guaranteed healthcare as a human right, and how we can adopt practices from nations that manage to provide care at half the cost.
Ultimately, we need a cost-effective system that prioritizes health and wellbeing over insurance profits. In my view, the solution lies in improving and expanding Medicare to cover all Americans. The Medicare for All Act, which I introduced with a number of my colleagues, aims to do just that over a four-year transition period.
Here’s the concept: it would offer comprehensive healthcare for all, eliminating premiums and out-of-pocket costs. The Congressional Budget Office estimates it could save about $650 billion annually by cutting out waste and profit margins from insurance companies. Plus, every American would gain the freedom to choose their own doctor or hospital, and a focus on preventative care would lead to healthier lives.
In the first year alone, Medicare benefits for seniors would expand to include dental, vision, and hearing aid coverage, with the eligibility age lowered to 55. By the second year, the age drops to 45, and by year four, everyone will be included under Medicare for All.
Providing guaranteed healthcare as a human right is not just a moral issue; it’s an economic necessity. At a time when the majority of Americans recognize the failure of our current system, it’s crucial for us to pursue a new direction. Medicare for All holds the promise of that change.
Let’s make it happen.
