Sens. Cruz, Lee, Reps. Meadows, Jordan Issue Op-Ed on Obamacare Repeal, Replacement
Today we are closer than ever to sending ObamaCare to the ash heap of history and opening the door for much-needed market-based solutions to health insurance.
With the Tax Cuts and Jobs Act,
But despite these positive developments, both
These proposals would snatch defeat from the jaws of victory by shoveling billions of additional dollars in deficit spending into the pockets of insurance companies, which have been losing money on ObamaCare's exchanges because of the law's misguided one-size-fits-all approach.
The real solution is obvious: we need to do away with this massive, expensive and unfair government program, instead of throwing money at a handful of corporations to tolerate it. But few have accused
Several competing proposals appear to be on the table. One would direct the Obama-created bailout known as cost-sharing-reduction (CSR) payments to go to ObamaCare insurance companies. Another would create an entirely new reinsurance program to funnel billions of taxpayer dollars directly to insurers in order to convince them to stick with ObamaCare.
Before now,
The reinsurance program proposals under consideration today would create a new backdoor bailout similar to one originally found in ObamaCare.
ObamaCare created a three-year reinsurance program, tantamount to a bailout, which thankfully ended in 2016. The Obama administration mismanaged this bailout so badly that it failed to collect enough insurance slush money, and then sought to fudge its mistakes by taking money from the
Back in 2016, top
This Frankenstein combination of a new Republican-created insurance bailout plus funding ObamaCare's existing pro-abortion CSR bailout is exactly what we counseled against in March last year. If we ignore the years of promises we made to the people on ObamaCare, the voters would, quite rightly, distrust
Fortunately, there's another way. We can treat health insurance as the product it is and allow the principles of choice and competition to provide cheap, effective options, as we do for almost every other purchase in our society. Consumer freedom is the most effective way to lower premiums and make health insurance more affordable.
We should expand health savings accounts so Americans get a tax-free way to pay for health expenses, allow people to purchase plans that work for them, and make these plans portable between jobs. These three simple things will go a long way toward promoting market competition that benefits consumers and reduces the cost of health care for everyday Americans.
Senate Commerce, Science & Transportation Committee Issues Testimony From Secretary of Commerce
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