The Free Market Works for Health Care
Kathryn Nix /
Advocates of big-government health care have ruthlessly attacked Representative Paul Ryan’s (R–WI) proposal to reform Medicare, which would give seniors a contribution to apply to the health plan of their choice. Under this “premium support” system, insurers would compete in newly created Medicare exchanges and would face pressure to offer high-value coverage at the best price possible.
According to opponents, this would force seniors to pay for a growing portion of their health coverage as medical costs rise. But real-world examples prove that applying free-market principles to health care can in fact reduce costs and improve patient satisfaction. (more…)