Wall Street, which often criticizes President Donald Trump for his rhetoric, has yet to get behind single-payer.
A Wall Street Journal editorial board member and a longtime Trump critic who did not want to be named said that he believed that Wall Street was still trying to figure out how to support single-premium health care.
But Wall Street has generally remained skeptical of the concept, particularly given that Trump has promised to replace Obamacare.
“I don’t think it’s a good idea,” said the former Wall Street board member, who was a vice chairman at Morgan Stanley before joining the Trump campaign in May.
“I think it will hurt the economy.”
Trump campaigned on promises to repeal Obamacare, and he’s promised to eliminate it entirely by Jan. 20, 2020.
At the time, Wall Street believed it would have to be the largest single payer provider, and they also thought that single-payment health care would be too expensive.
While Wall Street did support the ACA, Wall St. has a long history of opposing the concept of single-payer systems.
Wall Street has long supported the idea that government should pay for private health insurance, and it also has long argued that the Affordable Care Act, the law passed by the Affordable Congress in 2010, was inadequate to cover private health care costs.
The Wall Street consensus is that a single payers system would be more affordable than private health plans.
The Wall Street analysts are also concerned about the impact of a system with private insurance on insurance companies, as insurers could reduce the risk they take from covering those with high medical bills.