Elizabeth Warren Health Care Plan: Joe Biden Joins Republicans In Attacking Program

After unveiling specifics Friday for her $20.5 trillion healthcare plan, Sen. Elizabeth Warren is drawing criticism from top presidential contender Joe Biden. The plan is expected to be a key topic for the Democratic debate on Nov. 20.

Biden claims that Warren is concealing the real tax burden from the supposedly fully government-funded program.

“Her plan would create a new tax on employers of almost $9 trillion that would come out of workers’ pockets, a new financial transaction tax that would impact investments held by middle-class Americans and a new capital gains tax that would affect far more people than she stated tonight," Biden said.

The plan involves a cut in defense spending and immigration reforms to seek higher tax from newly legalized Americans.

Warren said her healthcare plan will cover some 27 million Americans currently uninsured and would mop up resources without affecting the middle class. She believes the required resources by cost-cutting, contributions, fresh taxes on Wall Street and billionaires.

Warren’s program offers to end all private health insurance, including employer-sponsored plans as the government will take over the entire healthcare expenditure of citizens.

Warren responded to Biden’s criticism.

“So if Joe Biden doesn’t like that, I’m just not sure where he’s going," she said.

The health insurance sector is dotted with many players including industry leader United Healthcare with almost $250 billion in revenue and 115 million customers.

This progressive insurance of state-owned health cover by Warren promises to end the burden of individuals paying premiums, deductibles, co-pays or any out-of-pocket costs. It also promises to extend the government’s existing health insurance program, Medicare to those above 65 years and the disabled.

On healthcare, President Trump’s concern has been on the cost burden of prescription drugs. The Trump news on healthcare had harped on a repeal of Obamacare.

In 2018, Trump unveiled the American Patients First Plan and vouched to break the nexus causing higher drug prices by reforming the rebates that drug companies pay to pharmacy benefit managers.

The drug prices are often dictated by PBM to pharmacies and health insurance companies and charge insurers more than the pharmacies. This pushes up prices for drugs. The PBM rebate arrangement thrives as no regulation checks it.