A I BELIEVE EVERY AMERICAN DESERVES ACCESS TO AFFORDABLE HEALTH COVERAGE AND HIGH-QUALITY CARE. However, single-payer approaches (i.e., Medicare for All) aren’t the way. Two independent studies estimate “Medicare for All” will cost $32 trillion over 10 years — a price tag that would increase federal spending by 60 percent and require the equivalent of tripling payroll taxes or more than doubling all other taxes. This is not practical or affordable. Further, such a drastic change would result in the loss of patient choice and control. Recent polling indicates most Americans would rather lawmakers work to enhance our current system. We should build on what is working in today’s healthcare system and fix what is not. We should advocate for reforms based on the competitive, market- based principles that have propelled America forward.
PAUL HASTINGS is president & CEO of Nkarta Therapeutics and has over 30 years of biopharmaceutical industry experience.