The next president can replace the Affordable Care Act and focus on consumer choice. Here’s how.
While America’s health-care system has long needed reform, President Obama unfortunately made many parts of it worse. His Affordable Care Act is based on more federal spending, regulation and coercion—and Americans are now experiencing the many unhappy consequences.
These include millions forced out of their previous insurance plans and into new ones with higher costs and more-restricted access to physicians; premiums increasing by double digits, even for the lowest-price silver plans offered in states using the Healthcare.gov website; and insurance companies losing billions of dollars because many healthy, middle-class families want no part of ObamaCare. And those not-for-profit “co-ops” established by the law? More than half have failed.
Congress passed a bill on Jan. 6 gutting the Affordable Care Act, which Mr. Obama vetoed two days later. Change will have to wait until the next president and Congress. But repealing the Affordable Care Act is not enough. The country has been drifting toward full federal control of health care for decades. What’s needed is a credible plan to reorient federal policy across the board toward markets and the preferences of consumers and patients, and away from one-size-fits-all bureaucratic micromanagement.
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We have worked with eight colleagues to develop such a plan. It has these important features:
• Retaining employer coverage. About 155 million Americans get health insurance through their place of work. They should be left alone. The only change would be a new upper limit on the tax preference for employer-paid premiums, set so that only the most expensive 25% of plans would exceed it.
Employers and workers alike would have an incentive to cut health spending and keep premiums below the limit to avoid triggering exposure to taxation. This upper limit would replace the unfair and poorly designed “Cadillac” tax of ObamaCare that imposes a uniform 40% tax on high health-insurance premiums, with no adjustment based on the wages of workers affected.Find out the other seven important features of the plan and read the rest of the story HERE.
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