Repeal and Replace Obamacare

Health Care (AHGO Website)
Steve Forbes, Honorary Chairman of AHGO, wants to apply the entrepreneurial spirit to healthcare

Obamacare is broken, but we can't just revert back to the way it was before Obamacare – that system was broken, too. There are steps we can take now to fix Obamacare while planning for long-term solutions.

Start by repealing the medical device tax, which destroys revenue and drives companies offshore.

Do away with employer and individual mandates so you don't punish companies for growing beyond 50 people.

Repeal the Independent Payments Advisory Board, an unconstitutional mechanism for price controls – sometimes referred to as a "death panel." Don't leave the health of a nation in the hands of 15 unelected bureaucrats.

Implement Patient-Centered Reform

We don't have enough entrepreneurship or free markets in healthcare, but we need them. A patient who asks what a procedure or treatment will cost ahead of time is assumed to be either uninsured or crazy.

When consumers know what their goods and services cost, they – and only they – can affect change. Obamacare should be replaced with a new system which, for the first time in memory, puts patients – rather than third parties – in charge. A new, patient-focused healthcare system would:

  • Expand access. Right now, you must buy insurance in the state where you live. Allowing nationwide shopping for health insurance would bring down costs and expand access to quality care.
  • Encourage saving. Expanded tax-free health savings accounts (HSA) would allow Americans to deal with rising healthcare costs. The money in an HSA could be used for medical bills, or accumulate to save for unforeseen emergencies. If the unthinkable never occurs, the saved money could be used for retirement.
  • Promote freedom. Doctors can opt out of Medicare by refusing to see new Medicare patients. Patients should be allowed to opt-out as well, and pay to see a private doctor if they have the means.
  • Incentivize innovation. Allow drug makers to earn a small royalty even after a patent has expired on the drugs they create. This will provide them with an incentive to make more and better drugs.