Aug 16, 2018

The Key to Better Care Is Found in Market-Based Reform

Post by Freedom Partners

A debate about single-payer health care — often called Medicare for All by its proponents — has been growing in the United States.

This is the wrong path for the American health care system. Already, our health care and health insurance industries are some of the most regulated in American life, leading to less available care, higher prices and reduced efficiency. To invite government further into those industries is to exacerbate the current dysfunction.

The Hill reported recently, drug and insurance companies have banded together to vocally oppose this movement toward a total government annexation of one-sixth of the U.S. economy, forming a group called the Partnership for America’s Health Care Future. In short, PAHCF is against single-payer health care and the appalling market disruption it will inflict.

But make no mistake, the very groups affiliated with PAHCF are among those complicit in preserving the health industry’s failing status quo: skyrocketing costs for hardworking Americans and record-high profits for special interests.

While that may be convenient for the drug and insurance industries — after all, the ACA forced individuals and businesses to purchase their products and services — it is inconvenient for those who must live with the unintended consequences of costly federal regulations.

Health care policy should allow consumers the greatest number of options at the most affordable costs — with the intent to improve consumers’ health, not insurers’ bottom lines. There are many ways to produce consumer-oriented health care policy, such as expediting medicines to patients, allowing medical professionals to do their jobs fully and supporting greater implementation of technology into health care – among other options.

The status quo, operating from a series of flawed premises, has done much damage to the consumer side of care. Guaranteeing that everyone has an insurance card does not guarantee that individuals will have care when they need it, will be able to afford it or that the quality of care will be sufficient. Indeed, as regulations and mandates grow more burdensome, more low-income individuals are priced out of the market.

Market-based policies to the health care and health insurance industries are a viable solution to this crisis.

When barriers are removed, Americans can look forward to a system that offers them greater choice, lower costs, and better care.