Putting patients in charge of their own healthcare encourages them to be price-conscious. When this happens, service providers have an incentive to compete on price, and competition produces downward price pressure… In a free market, one in which the law didn’t require that insurance cover everything from pregnancy to mental health, health insurance would primarily cover catastrophes. Elective procedures would be paid for by the patient, either in cash or with financing. A free market in health care could also lower costs by incentivizing surgeries that reduce health care costs long term. – Julian Adorney
Millions of Americans are struggling to afford quality healthcare. Big government, big insurance, and big pharma have only made matters worse. We need innovative approaches.
The Democrats are pushing for a single-payer system (a healthcare system financed by taxes that covers the costs of essential healthcare for all residents), however, a common misconception is that having a greater percentage of the population insured results in a healthier population. This simply isn’t true. Canada, for example, has universal healthcare but has comparable rates of disease to the U.S. Also, under such a system, government bureaucrats, not your doctor, get to decide what is “essential” to your health or even your survival. The Republicans want to “repeal and replace” Obamacare, but have offered nothing substantive to replace it.
I propose deregulating healthcare to facilitate innovation and competition among hospitals and medical practices in both quality of care and pricing, with the goal of achieving better health outcomes for more people. I also advocate complete transparency so patients are not hit with “out of network” or “not covered” charges after the fact. To improve the quality and lower the costs of healthcare, I propose the following initiatives:
- Require price transparency for all medical services to make consumers aware of the costs, fostering competition which will drive down prices.
- Eliminate the tax preference for employer-sponsored health insurance, encouraging employers to pay those health insurance dollars directly to employees rather than as premiums. This would allow employees to purchase coverage more tailored to their own needs, and make it easier to maintain continuous coverage after switching jobs or the death of a spouse, especially where preexisting conditions are involved.
- Repeal oppressive insurance regulations (mandated coverage, community rating, certificate of need, prohibitions on selling policies across state lines, etc.), encouraging more insurers to enter the market
- Reverse the Obamacare Medicaid expansion, offering finite block grants to states instead, which will force the states to use the funds more efficiently
- Promote the creation of non-profit health centers based on the successful Volunteers in Medicine model.
- Reform Medicare by giving seniors more options for their coverage.
- Allow Millennials and future generations to opt out Medicare so they can prepare for their retirement healthcare needs through other plans if they prefer.
- Expand health savings accounts.
- Remove government hurdles for medical innovation
- Encourage states to provide malpractice insurance or tax credits for doctors in their private practices in return for donating a certain number of hours a week treating patients in donor funded clinics serving the needy. Eliminating the high cost of malpractice insurance will enable doctors to keep their fees in check for all patients.