According to the Bureau of Labor Statistics, in 2018, nearly 386,000 Americans were employed by health and medical insurance carriers — but some analysts found the number of jobs lost from eliminating private insurance could be much higher. Economists at the University of Michigan found in an analysis of Sanders’ Medicare for All bill that the jobs of nearly 747,000 health insurance industry workers, and an additional 1.06 million health insurance administrative staffers, would no longer be needed if Medicare for All became law.
In Iowa, however, the issue could be particularly problematic.
Around Des Moines, “you can’t swing a dead cat without finding someone who works at an insurance provider or a company,” said Mary McAdams, chair of the Ankeny Area Democrats. She said she believes Democrats in her area aren’t as concerned about what would happen to their jobs if private insurance were eliminated because they don’t have much allegiance to their companies to begin with.
“They know full well these companies would drop them like a habit,” she said.
The economic repercussions of eliminating private insurance jobs could go beyond simply the loss of local jobs, as Paula Dierenfield, a Republican lawyer and the executive director of the Federation of Iowa Insurers, points out.
“This is an industry that employs thousands of employees in high-quality jobs,” she said. “All of those employees pay income taxes, sales taxes, property taxes, and the companies that they work for also pay millions in premium taxes, as well as property taxes. So it would have a significant impact on the Iowa economy generally as well as here in the Des Moines metro area.”
The peripheral effects of eliminating insurance jobs worry Marcia Wannamaker, a real estate agent from West Des Moines who raised her concerns about the fate of private insurance during a recent question-and-answer session with Biden.
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December 15, 2019 at 08:38AM
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Iowa Dems worry 'Medicare for All' hurts key industry - The Columbian
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