Dallas Mavericks owner Mark Cuban has done some innovative thinking on how to reform the health care system. The Cuban plan is similar to an idea once proposed by Milton Friedman and also by Harvard economist Martin Feldstein. In a nutshell, people would be responsible for medical bills up to a certain percent of their income, and government would pay everything above that. In other words, people would pay ordinary bills out-of-pocket, and government would provide catastrophic coverage for the large bills. More.
The intellectual collapse of liberalism and conservatism at the end of the 20th century created space that the cancel culture moved quickly to occupy. The world of ideas abhors a vacuum. Absent the traditions bequeathed to us by the Enlightenment and the Age of Reason, the cancel culture was only too willing to serve up irrationality and unreason. More
What about Joe Biden’s promise that the next big spending bill won’t cost anyone a dime if they make less than $400,000? All economists think that the corporate income tax is partly paid for by lower wages for workers. The only question is: How much of the cost is born by labor? Larry Kotlikoff and his colleagues, using the most sophisticated model of international financial flows that exists, have concluded that the full burden of the corporate income tax falls on workers. Not just in this country. But in every country. The editorial board of the Wall Street Journal says they agreed with him. More
Why is it controversial to expand the physician supply, creating more competition? Doctors oppose it, just like they oppose expanding the scope of practice for nurse practitioners. Doctors don’t want me to be able to see a nurse practitioner or physician assistant for a wart on my toe unless that NP/PA works for them.
How did doctors get so powerful? In the first half of the 20th Century, the American Medical Association (AMA) waged a largely successful battle to close medical schools that trained competing physicians. …. More than half of American and Canadian medical schools were closed…. Thus, the job of a physician was yanked out of reach of all but the smartest, most disciplined, wealthy elites. More
John Goodman was the first person to note that health plans would respond to Obamacare incentives by imposing high deductibles (three times what is normal for employer plans) and narrow networks (as bad or worse than under Medicaid). Along with Boston University economist Laurence Kotlikoff, he has now proposed simple, straightforward reforms to both problems in an editorial published in The Hill. More
Can we transform the entire health care system by empowering the roughly 60 percent of patients who are in private health plans? That’s the premise of a new book I just read by Todd Furniss (@TFurniss on Twitter). The author of The 60% Solution: Rethinking Healthcare, believes there are five major reforms necessary to empower patients and help them get better care at better prices. These include: (1) change governance, (2) modify health savings accounts (HSAs), (3) clear prices, (4) standardize accounting and information technology in the medical industry and (5) emphasize primary care. More
Suppose Congress were considering a bill that would do the following: either your employer must double your wage or fire you. Is that the kind of law you would like to see passed? Most people wouldn’t. But then why are they willing to inflict the same threatening edict on those at the bottom of the income ladder?
William F. Buckley is best known for promoting a fusionist approach on the right – uniting traditionalists and classical liberals in a common cause — especially in National Review. Yet in the latest post at National Review, Buckley’s former debating partner, John C. Goodman says this approach is not working. Those who believe “We should stand athwart history yelling stop” have no appeal for the young, he says. “They generate none of the energy and enthusiasm needed for a successful political movement.”
Goodman says conservatives should focus instead on reforming institutions, liberating people and making the world a better place. “The classical liberals were reformers,” he says.” To be successful, modern conservatives must follow in their footsteps.”
More than 80 million people have some kind of savings account targeted for health care. But the system needs reform:
· By law, seniors cannot make deposits to an HSA
· Almost no one with Obamacare insurance has an HSA
· Among those who have an account, money cannot be used to pay the fees of “direct primary care” doctors – who are available by phone, email and Skype and as an alternative to emergency room care at nights and on weekends.
· It is impossible to structure HSAs for diabetes and other chronic conditions