A recent article by Bloomberg’s Megan McArdle in the Denver Post claims that ColoradoCare will fail due to its egregious costs. She declares it will only bankrupt the state and in the end make healthcare worse for everyone. McArdle’s only evidence is a “nonpartisan” study released by the Colorado Health Institute (CHI) that states Colorado’s single payer proposal will not alleviate growing healthcare expenses. However, both the article and the study are incorrect.
Here are the flaws with both:
- They wrongly assume that ColoradoCare would not reduce growth in healthcare costs, even though the most conservative estimates, such as the Urban Institute’s study, conclude that a single-payer system would slow cost growth.
- They misrepresent the funding for ColoradoCare. CHI assumes that ColoradoCare would eliminate federal Medicaid funding that supplies $4 billion annually to the state’s healthcare budget, but there is no indication that this support will just disappear.
- McArdle states that the population of Colorado is too small to have the bargaining power to significantly lower medical equipment and pharmaceutical costs. However, countries who have even less people, such as New Zealand, have managed to supply all their residents with the care they need at lower costs.
Take Action! Call out this misinformation by:
- Liking comments like this one by Jed Shapiro and others, and writing your own comment
- Writing a Letter to the Editor of the Denver Post expressing your concern
- Replying to Bloomberg View’s tweet of McArdle’s Article
- Tweeting Megan McArdle