Economic Impact Study

Besides providing you, your family and all of Pennsylvania with comprehensive health care coverage, single payer also offers a better financial outlook for everyone involved. It not only means that more money is put back into your pocket and kept in your bank account, but also a healthier bottom line and a more robust economic climate for businesses already here and those looking to relocate to our state.

Strictly in terms of dollars and cents, here are just a few of the highlights from our 2014 Economic Impact Study that showcase the benefits for both individuals and businesses.

Individuals

  • Elimination of premiums, co-pays, deductibles and out-of-pocket expenses
  • Possible tax relief due to savings the municipalities and school districts would experience
  • Increase in net income for the bottom 85% of working Pennsylvanians – the category into which most of us fall
  • Elimination of “job-lock” – the need to stay in a place of employment simply for the purpose of keeping health care

Businesses

  • Net job creation in all sectors of the PA economy estimated to be between 120,000 to 200,000 jobs
  • Companies and businesses that spend more than 10% on health benefits – which most do – will save money
  • A more level playing field
  • Declining payroll costs
  • Lower cost for vehicle insurance
  • Lower workers compensation
  • Lower liability insurance
  • Elimination of COBRA obligations.
  • Tort reform
  • Removal of retiree health care costs, or “legacy costs”
  • Elimination of contentious collective bargaining over health care
  • The end to double-digit percentage increases
  • Promotion of a true free and open market principles, but where it should be – at the provider level (doctors, hospitals, etc.), not at the insurance company level.

Perhaps you want to get into the nitty-gritty of the report, complete with cool, colorful charts and graphs. Maybe you’re just a fan of stats. Whatever the reason, if you want to see the actual Economic Impact Study for yourself, you can right here.

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