Rising costs of health care insurance: Free market solutions are needed

Discussion about the rising costs of health care insurance in the United States has reached a fever pitch, especially in light of the Affordable Care Act, commonly known as Obamacare. As insurance companies announce their proposed premiums and plans for the following year, there is a clear pattern of rising prices since the start of Obamacare. Critics point to what they see as the law’s unsuccessful policies and regulations as the main culprits.

Lobbying for health care reform

Advocates of health care reform argue that a shift toward free-market solutions could ease the financial burden on Americans. They believe these solutions would empower patients and doctors, and reduce the federal government’s role in health care decisions and financing. Their argument relies on evidence from three states that received federal waivers of Obamacare and later reported lower insurance rates.

The issue of free market solutions

Proponents posit that Congress should simplify the process for states wanting to implement similar reforms. They argue that this could extend the benefits of lower insurance costs to a broader population. Their case was strengthened by testimony from Wendell Potter, a former health insurance executive turned health care advocate. Potter highlighted the troubling trajectory of the health insurance industry since the implementation of the Affordable Care Act and stressed the need for comprehensive health care reform.

The need for comprehensive health care reform

Among the reforms Potter advocates are support for Medicare for All and universal health care. It also calls for legislation to reduce deceptive practices by Medicare Advantage plans. Furthermore, Potter urges individuals and employers to rally behind reforms that improve outcomes. The journey toward effective health care reform is fraught with complications, but voices for change are growing louder, echoing the sentiments of many Americans besieged by rising health care insurance costs.