In 2016, prices for plans sold on healthcare exchanges are expected to increase by 7.5%. Healthcare costs are one of the most important financial problems that American's encounter. Every American should have access to affordable and high quality healthcare. One way to achieve this is by transforming the healthcare model from government-led to market-led.
The Committee for Economic Development developed a policy to stabilize the healthcare system:
- Provide families or individuals with a refundable tax credit that can only be used to purchase health insurance. Ideally, the amount of the tax credit should be the cost of the base insurance plans located in that patients region.
- Allow employers to offer plans to their workers. No plan would be allowed to refuse patients or charge higher premiums for pre-existing conditions. Plans that cover sick patients should benefit from risk-adjusted premiums.
- Allow health insurers and exchanges to offer plans across state lines to lower costs via more competition.
- Shift away from the current fee-for-service model to encourage more innovative, affordable care.
- Reorient the Independent Payment Advisory Board to provide information for the physician-patient relationship, instead of inject remote government judgment. Data gathering and research should be expanded to inform physicians and patients about what treatments are most effective in certain situations.
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