Posted on 10/24/2020 6:13:57 AM PDT by Kaslin
Safe to say, not too many Americans will change who they are voting for after last night’s debate. Unlike the previous debate, however, the candidates had some interesting things to say about policy. Biden accused Trump of trying to strip away healthcare coverage for more than 20 million Americans by attempting to repeal the Affordable Care Act (ACA; aka Obamacare). Meanwhile, Trump accused Biden of trying to eliminate private insurance for more than 200 million Americans.
The expensive truth is that both candidates are pedaling big-government policies that will hike prices and decrease patient choice if enacted. Biden and Trump may not see eye to eye on much, but they must agree on expanding choice and competition in the U.S. healthcare system.
Slated to cost an estimated $750 billion in extra spending over the next 10 years, Biden’s healthcare plan would be astoundingly expensive. Biden’s “Obamacare on steroids” approach would significantly increase subsidies for state healthcare exchanges and set up a “public option” to fill in present-day gaps in health coverage. As policy experts pointed out a decade ago during the original debate over Obamacare, it’d be next to impossible to design a public option in a way that wouldn’t drive private insurers out of business. After all, this taxpayer-funded entity could set healthcare premium prices far lower than any company ever could. In the private sector, setting prices below healthcare and administrative costs will result in near-instant bankruptcy.
A government-run organization, though, could simply tap taxpayers for a bailout if their prices prove to be too low. But even this slow-motion “public option” disaster would be a libertarian pipedream compared to what we’d actually get under a Biden administration. The former Vice President doesn’t operate in a policy vacuum, and policy advisors close to him such as running mate Sen. Kamala Harris (D-Calif.), are likely to exert significant influence on any Biden agenda. Before dropping out of the race and endorsing Biden, Harris supported a Medicare for All plan that envisioned, “10-year transition plan away from the current healthcare system, at the end of which, “every American will be a part of this new Medicare system. They will get insurance either through the new public Medicare plan or a Medicare plan offered by a private insurer within that system.” This private component is supposed to be modeled after Medicare Advantage, which consists of plans subscribed to by seniors and sponsored (at least partially) by private insurance companies.
The Medicare Advantage program does offer some improvements relative to traditional Medicare plans, since private companies can compete with one another albeit in a strictly regulated framework. But, make no mistake, these “private” Medicare plans are still funded by taxpayers and private sponsors are strictly curtailed in what healthcare options they can offer patients. If Harris gets her way or at least has significant input in “Bidencare,” private insurance would likely remain in name only. When bureaucrats have the ultimate say in what plans can offer and taxpayers foot the bill, it’s hard to call the result a free market.
Trump’s healthcare agenda is no walk in the park either. Despite extolling the virtues of markets in medicine, the President has tried to price-fix critical medications via executive fiat. Instead of getting drug prices under control, these actions will lead to widespread shortages if continued. Innovation will also take a major hit as companies may be discouraged from spending on R&D for the next generation of drugs. Europe went down the road of price-fixing medications fifty years ago, and medication availability and innovation took a significant hit as a result.
Both candidates need to ditch the temptation to get the government further involved in healthcare. Rather than embracing bureaucratic tinkering and sky-high tax bills, Biden and Trump should commit to keeping costs under control by encouraging consumers to shop around via tax-free Health Savings Accounts. For struggling Americans who cannot afford critical healthcare purchases, the government can lend a helping hand and create a limited system of need-based vouchers. That system would work far better – and cost far less – than the noxious meddling in medicine proposed by both candidates.
True. Much like they both embrace shall be infringed 2A Policies, based on their record. Much like they are pro H1b anybody but citizens and their children. Maybe it’s all tied into the crony corporatism that even a great prez can’t undo.
Not a fan of endless spendocracy policies either. COVID relief is funding the burning of our cities.
Call me whatever you want but it seems to me that the President has been trying to do a lot of things with regards to healthcare and he’s met nothing but resistance from both sides. McConnell and the rest okey-doked him on the APA. McCain, the POS, ran on getting rid of the APA and then sided with the Dem’s. Of course there’s always Roberts making up laws and he sees fit.
If I’m not mistaken most of the things the President has done, if not all, has been through EOs because he can’t get any support from the Republicans and certainly not from the party of the people, the Dem’s. Both like getting those fat checks from Pfizer, et al.
From the article..............
CLAIM: President Donald Trump has not lowered drug prices for anyone, according to former Vice President Joe Biden.
VERDICT: FALSE.
The fact is that drug prices have fallen under President Trump for the first time in nearly half a century. As Breitbart News noted in an fact check earlier this year, Trump’s regulatory changes have removed some of the barriers to, and costs of, drug production.
As MarketWatch explained last year:
Here’s a shocker: The cost of prescription drugs are falling for the first time in 47 years. The government on Tuesday said prescription prices sank 1% in February, marking the biggest one-month decline ever.
What’s more, the cost of prescription drugs over the past year have dropped by 1.2%. That’s the biggest 12-month decline since 1972.
What socialized medicine will do is get rid of the cash cow of private plans. After that, medical professionals will leave the profession and hospital quality will plummet.
Doctors run very inefficient practices nowadays.
In my youth, my mother utilized a practice with five doctors and two staffers on duty.
My aunt’s doctor had a physician assistant and three staffers.
“shop around via tax-free Health Savings Accounts”
Rather difficult given that most health care pricing is hidden.
I advocate posted Medicare multiplier pricing. If Medicare would pay $300 for a service and the provider’s multiplier was 1.4, your price would be $420.
“the President has tried to price-fix critical medications via executive fiat. Instead of getting drug prices under control, these actions will lead to widespread shortages if continued.”
Drugs are made by industrial processes.
Some top level Lilly and Novo Nordisk executives undoubtedly have relatives that need insulin to live. They are not going to make insulin for their relatives and refuse to make more at marginal cost at a fraction of the retail price for your loved ones.
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