This unprecedented health care inflation is ironic in view of economist John Goodman’s 5 principles enunciated in his January 9 blog: 1) There is almost nothing the government can do that the private sector cannot do as well or better; 2) The few things government can uniquely do can be done without public insurance; 3 ) Most public insurance in this country is actually administered by private insurance companies; 4) Most people with public insurance are in private sector health plans; 5) It is only in the private sector that one finds anyone who has an incentive to lower costs without rationing care.
Another irony is that President Obama, after Affordable Care Act’s passed, declared, “Everybody who’s looked at it says that every single good idea to bend the cost curve and start actually reducing health-care costs are in that bill.” Yet, in 2014 costs will rise from the present 4.1% rate of growth and jump to 7.8% and 6.2% for the rest of the decade,
Not to the Affordable Care Act,
Which he unequivocally backed.
The facts speak otherwise, yes indeedy.
Tweet: Thanks to certain provisions in the Affordable Care Act, insurance premiums will shoot up even double, this year.