Analysis: Everybody except for the top 5% (and probably even more people) will spend less under Bernie’s M4A plan than what they are spending currently.

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  1. Bernie's plan on his Senate website: 4% income tax exempting first $ 29k.
  2. From the same source: An average family of four spent almost $ 5,300 in 2016.
  3. This is much higher in 2019, probably over $ 6k, as the costs have been rising by more than 5% annually. (CMS)
  4. Annual cost for premiums and out-of-pocket expenses: over $ 5,000 in 2017 for a household of 4 with annual income of $ 75,000. (Kaiser Family Foundation) They will pay just about $ 2,000 under Bernie's M4A.
  5. Households with annual income of $ 55k (median household income in the USA, which means half of the household incomes are below $ 55k, and the other half above) will pay about $ 1300 only.
  6. Everybody whose annual household income is below $ 155k (top 10%) will also spend below $ 5,000 under Bernie's M4A plan.
  7. Kaiser Family Foundation: For an annual household income of $ 150k, annual cost for premiums and out-of-pocket expenses was actually almost $ 7,500 in 2017. However, under Bernie's M4A, they will pay less than $ 5,000. The only people who will pay more than $ 7,500 are the top 5%, or those whose annual household income is $ 220k.
  8. I could not find how much the top 5% are spending currently, so it is possible than even some of the top 5% will pay less under Bernie's M4A plan.
  9. Household income percentile calculator: CNN

(The figures are slightly rounded for better readability).

submitted by /u/notmeus2020
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