The Biz Bucks Blog provides former Biz Bucks students and other busy professionals with a summary and commentary of seminal articles from the opinion pages of the Wall Street Journal. You can be notified of a new posting by subscribing to the blog (enter email in box on right) or by following on Twitter: @BizBucksGuy.
Market-Based Health Care Reform Ideas That Will Work! August 28, 2013 11:59 AM | Tagged as ObamaCare Rove Health Insurance
WSJ August 22, 2013 Page A13: “Republicans Do Have Ideas on Health Care” By Karl Rove and
Page A15: “The Man Who Was Treated for $17,000 Less” by Dr. Jeffrey A. Singer
In spite of what President Obama says, there are many proposals to make our healthcare system much better and cheaper, beside ObamaCare. If many of these were implemented, we would have lower costs and better outcomes.
1. Make health insurance portable between employers.
2. Provided the same tax benefits that large companies get on healthcare to small businesses and sole proprietors.
3. Allow smaller companies to be in risk sharing pools, so they can get the volume discounts that large companies enjoy.
4. Allow health insurance policies to be sold across state lines, like auto insurance.
5. Allow more Health Savings Accounts (HSAs).
6. Increase the amount people can deduct for medical expenses. ObamaCare has reduced that amount.
7. Reform medical malpractice law to reduce junk lawsuits and, hence insurance costs.
8. Let the states handle medical malpractice suits.
9. Allow transparency in markets so consumers know of a hospital’s prices and their successfulness of various procedures.
10. Allow a consumer on Medicaid to transfer the value of their government benefit to a private package.
While some of these items are mutually exclusive, many are being packaged by lawmakers into coherent proposals that would lower prices, increase access, and improve the well-being of every American. There are common sense, market based alternatives to the giant government takeover of our health. Do we really need government to decide our health delivery system?
The idiocy of our current system was discussed in a related article which described a man needing a simple hernia repair. With his insurance plan, he was going to be charged out of pocket costs of $20,000. He decided not to use insurance and negotiated directly with his doctor, the anesthesiology, and the hospital. The total “cash-basis” cost was $3,000, a savings of $17,000. Great job, insurance company! Who needs you?
May we wake up before it’s too late.
Posted in Health Care | 0 Replies
To receive email updates when a new post is made, please enter your email address in the box below and click Subscribe.
Use these key words to search past blogs:
1994 97% Alesina Recession Alinsky Allesina austerity Baloney BAT Binz bird kills Bogle Border Adjustment Tax Brulle Bryce capitalism carbon Carbon Dioxide CBO CFTC chains China Churchill Climate Climate Change Clinton Comparative Advantage Crichton Cronyism Cummins Curry Darwin Death panel demographics population economics Denier derivatives Dodd-Frank Drug dynamic Dynamic Scoring education electric car Energy Energy Policy Enron Debt Entitlements Eugenics Fat Fry Flat Earthers fracking free markets free trade Free Trade E-Verify Free Trade Zoellick Freedom Heritage Foundation Friedman gas lines Gas Prices glaciers Global Warming Global Warming Sustainability global warming subsidies IMF Globalization Trade God Google Gore Gramm Green Blob Grifo Groupthink Growth Hannity Hayek Hostess Hybrid Immigration Imports index funds Indexing Intellectual Denial investing investment IPCC JFK Joint Tax Kennedy Kerry Keynes Keynesian Keynesian Tax Cuts King Barak Bird Kills Koch Koonin Laffer Lamar Smith Lomborg macroeconomics macroeconomics;static; dynamic MACT Makiel markets Marxist medical care minimum wage Mitchell Model T Moore Morgenthau Navarro Neumark NOAA NY Times Obamacare ObamaCare Rove Health Insurance O'Reilly participation rate Patrick Moore peer review Peer Review EPA Piketty Pipelines plywood Presidential authority Price Controls Pruitt Racial divide Rare Earth Reagan Recession REE Renewable Portfolio Standards Renewables Ricardo Ridley robotics RPS Ryan Schlaff Science science integrity scoring Settled Science Shaffer shortages socialism socialized medicine Solar Panels Solvaldi Sovaldi static steel STEM Stephens Steyer stimulus subsidies subsidy sugar Supreme Creator tax policy tax reform Taylor territorial taxes corporate taxes Tesla Trade train wreck Trump unemployment wages Wind wind power women Zuckerman