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Use market, choice to lower health costs

Gerald A. Cory New London

Publication: The Day

Published 08/05/2012 12:00 AM
Updated 08/03/2012 04:46 PM

The Affordable Health Care Act of 2010 should be repealed and replaced by the following:

• A system in which the federal government would give to each adult U.S. citizen a limited, set amount of money each year. The amount given could be spent on traditional fee-for-service health care, health insurance, and/or anything that the grantee wants, whether health related or not. Since the grants would be limited, people given the grants would be motivated to take responsibility and spend the amounts wisely. People would search for the lowest prices for the health care goods and services that they want, and the health care industry would respond in kind by lowering prices to attract customers.

• An elimination of the special tax advantage that exists in the federal tax code for employer-provided portions of private-sector health insurance. This would discourage the over-reliance that many people already have for health insurance, and would also encourage people to take more responsibility for their health care. This does not mean that people should not have health insurance, but only that such insurance should not be artificially encouraged or discouraged. Health insurance should be taxed at the same rate as regular income. That also would serve to drive down health care costs.

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