What Sanders' single-payer system would mean for health insurers

Democratic presidential candidate Bernie Sanders' plan to overhaul the healthcare system would essentially relegate health insurers to selling supplemental coverage, according to the Associated Press. Sanders recently said his "Medicare-for-all, single-payer system" would save the average family about $5,000 per year.

To do that, the AP notes, the Vermont senator's plan would place the $3.2 trillion-a-year U.S. healthcare system in the hands of the federal government, meaning billions of dollars in shareholder equity would evaporate at private insurers, and thousands of jobs would disappear. States would, however, have the option of hiring private insurers to administer coverage, and Sanders does propose a transition plan for workers displaced by the move to a single-payer system. Article

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