As someone who works in the healthcare profession M4A would be a disaster.
Bernie’s M4A act is extreme, even compared with other “single-payer” plans internationally. It intentionally sets up a monopsony, allowing a single payer (govt) to push prices through the floor in order to get coverage for everyone. It explicitly bans private insurance coverage after a 4-year phase-out, slashes reimbursement to providers, and makes balance billing illegal.
Medicare just BARELY covers hospital costs. Pure Medicaid hospitals don't exist, because they're already bankrupt. Already, physician reimbursements and salaries are well behind growing with inflation and have been for nearly 20 years. If you cut Medicare reimbursements, and insure everyone, those little mom and pop rural hospitals and clinics are going to be annihilated in short order.
Make no mistake, it would lead to an immediate recession/depression, as you would lose the entire health insurance industry and many, many clinical providers as clinics tried to stay afloat. Doctors, nurses and other health care professional would see an immediate and drastic cut in their pay- at least those who managed to stay open. Hospitals and clinics are running through thin margins. There is only a handful of hospitals that turn a profit without govt assistance.
I’m all for universal coverage, but M4A would be a disaster. If President Bernie somehow passes it Republicans would win big in 2022 midterms and a Republican would win in 2024. Health care is very complicated and it’s a massive part of our economy that any drastic changes would lead to an economic downturn. America is a unique country with a poor health literacy and even poorer health habits.