Imagine you are an employee of a large company and dream of one day owning your own business doing what you love to do. The problem is the amount of risk you have to take in order to start that business. The risk that I am talking about is the risk of not having health insurance and being able to see a doctor.
This is especially true if you have a family. Many people will stay with their current employer, not because they love the job, but because the company provides them with health insurance.
If America had a single payer health insurance system that is carried with you no matter what, the risk factors involved with starting a business reduce dramatically. Everyone who starts a business takes a financial risk and many times it has a great return on the investment. People shouldn’t risk the health and well-being of themselves or their family because they want to start a business, but unfortunately this is the exact situation that we have today.
With a single payer health insurance system, the carpenter could start his own carpentry business and not have to worry about seeing a doctor, or worry if his children are sick if they can get the care they need. He just needs to be concerned with making a return on his financial investment.
Single payer creates increased economic risk taking and economic freedom for the average American. It also alleviates the pressure on employers that spend a tremendous amount of money on insuring their employees. Health insurance is a bigger expense to businesses than taxes or regulations.
If one million people, who are currently working, but would love to start a business, had that burden of health insurance lifted. That is a ton of new economic activity and growth.
Plus, with single payer the states would no longer have to provide Medicaid to the poor. This would lift a burden off the books and the federal government would not be sending millions to the states to cover and help fund the Medicaid programs.
The elderly are very happy with Medicare and have been for a generation, so expanding the program to everyone should be popular.