This One Policy Can Cut Healthcare Costs by 75%

Medicare For All Need Not Apply

Misusing Insurance

One of the core problems with medical insurance in the United States is that we don’t utilize insurance in the way it’s intended. Insurance is a product that one purchases to manage risk, in this case, the risk that they might have a heart attack, a serious injury, or serious illness. But increasingly, we find insurance used for preventative care, including routine check ups, and procedures that otherwise shouldn’t require dipping into the an insurance safety net.

Transparent Pricing

There are a great number of medical services, especially dental services, that could improved in cost and quality, if subjected to the powerful forces of the market. But none of this can happen until medical procedures and services have transparent pricing that makes comparison shopping possible. At this time, however, it is simply impossible to know what the price of a medical procedure or product really is until AFTER they are complete or purchased.

Skin in The Game

Transparent pricing, however, will not matter if consumers aren’t spending their own money. It needs to be coupled with another policy: mandatory Health Saving Accounts (HSAs). Assigned to each person living in the United States, the government or an employer would automatically make tax-free contributions into the HSA. Consumers would then use said accounts when purchasing healthcare goods and services.

Not a Panacea

To be clear, transparent pricing and health savings accounts are just another tool in the toolkit for solving America’s healthcare crisis. When combined with Tort reform, it would be possible to meaningfully reduce costs and improve healthcare outcomes. These steps are no silver bullet, but they are simple and affordable measures to help ease the pain of millions of struggling Americans who have seen their paychecks steadily gobbled up by the rising cost of healthcare.

Radical #Moderate and Pragmatic #Futurist | #PolySci Undergrad | MS in Leadership | Founder of the Lianeon Project: http: www.lianeon.org

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