What made the United States an economic powerhouse with the highest standard of living in the world? Without a doubt, it is our belief in free market economics. Why then would we even consider nationalizing one of the largest segments of our economy? After six years of ObamaCare we have been to the edge of the abyss, looked in, and recoiled at what we saw. Government takeover of private industries is always a disaster.
We are at a watershed moment in history, with an opportunity to hit the reset button and get it right. It’s time to set aside the political posturing and get to work on repairing our health care financial system – not as an entitlement, but as a BUSINESS. Because that’s what it is.
Problem: When an industry like health care is removed from the free market and taken over by the government (nationalized), it always results in higher costs, reduced access and choices, and poorer products (outcomes).
Solution: Repeal ObamaCare immediately, remove as much government interference as possible and restore free market for health care and insurance. Implement reasonable regulations to protect consumers and maintain fair competition.
Problem: Health care costs and health insurance premiums continue to increase much faster than normal inflation.
Solution: Require consumers to have “skin in the game” by paying directly for minor medical care – health insurance should be geared toward major medical coverage. Make medical expenses and premiums tax deductible for individuals, just like they are for corporations. Require all medical providers to show costs to consumer before treatment. Require insurers to offer large pool pricing and ERISA protection for individual plans at rates comparable to corporate group plans. Establish reasonable restrictions on malpractice payouts. These reforms will put purchase decisions in the hands of consumers where normal free market forces will result in price competition and improved product.
Problem: Even though health care is not an entitlement, most Americans want to help fellow citizens who are legitimately unable to purchase their own care and/or insurance.
Solution: There are many ways to provide a safety net for the truly needy, such as subsidies and/or tax relief for private health insurance, taxpayer funded or subsidized health clinics, etc. Regulations should prevent health insurance companies from cancelling coverage due to claims experience. On the other hand, insurance companies can not be expected to cover consumers with pre-existing conditions, so state assigned-risk pools are necessary. In all cases rigid vetting is absolutely necessary. Our system can not support unlimited care for non-citizens and false claims of disability and indigence.
Problem: Many Americans fear that if the government is not between them and their health care, and they are left to their own devices to purchase health care, the powerful health care industry will abuse them for profit.
Solution: The strongest motive to provide a good product is profit. Consumers make good purchasing decisions every day. The cost of products goes down as the quality improves, because consumers will always, always, ALWAYS select the best value when they are spending their own money.
Repeal ObamaCare now. Release the health care and insurance industry to seek honest profits in the free market by competing for customers. Implement common sense regulations that are fair for providers and consumers alike. Stop pretending that health care is free and everybody is entitled to it. Let the magic of the American free market work again.
Tom Balek – Rockin’ On the Right Side