Dare we hope…?

Thousands of US physicians have endorsed a broad proposal that would abolish for-profit hospitals and insurers and transfer all Americans into an expanded and improved Medicare program for all ages, reigniting the debate over universal health care a decade after President Clinton's failed plan.

While the four physicians who wrote the plan -- three of whom are affiliated with Harvard Medical School -- are members of a nonprofit organization that has long pushed for universal health coverage, the new proposal is important for two reasons: It was published today in one of the country's most prestigious and its most widely circulated medical journal, the Journal of the American Medical Association, and because of the large number of doctors -- nearly 8,000, including two former surgeons general -- who endorsed it.

AMA officials said it is unusual for the journal, which has a circulation of about 700,000 worldwide, to publish an article endorsed by such a large number of physicians. JAMA's editor, Dr. Catherine DeAngelis, said that an editorial accompanying the article represents the journal's viewpoint that it is time for the country to grapple more seriously with major problems in the health-care system.

Here’s the good part: private insurance companies would be virtually eliminated! Considering how many politicians are in the pockets of the insurance companies, this factor alone probably insures the plan's defeat.

But look how great it would be!

The physicians estimate that the country would save $200 billion annually by eliminating profits of investor-owned hospitals and insurance companies and by reducing administrative costs for hospitals and doctors who must bill dozens of different insurance companies. Private health insurers now consume 12 percent of premiums for overhead, while Medicare and the Canadian national health insurance system have overhead costs below 3.2 percent, the doctors reported.

Taxes, the doctors said, would increase. But except for the very wealthy, higher taxes would be offset by the elimination of insurance premiums and out-of-pocket copayments and deductibles, they argued.

Yeah!

Complete story here.