Conservatives who viewed the insurgent candidacy of New York businessman Donald Trump with suspicion have been relieved at the speed and quality of his selections to fill his cabinet. Perhaps most comforting was the recent choice of Rep. Tom Price (R-GA) to head the Department of Health and Human Services (HHS).
A pillar of Trump’s campaign was his promise to repeal and replace Obamacare and Dr. Price has been Congress’ leader in this effort. Price drafted legislation in 2014 to replace the law. The Washington Post described how Price’s measure differed from the command and control aspects of Obamacare:
Instead of offering financial assistance for people to get health care coverage, he’d provide tax credits (based on age, up to $3,000 a year for those age 50 and older) to allow people to buy their own insurance. And he’d use another tax cut (a one-time cut up to $1,000) to incentivize people to sock away pre-tax money for health care costs in a Health Savings Account.
Price’s philosophy on fixing Obamacare is rooted in “clear[ing] out the bureaucratic impediments” to health-care providers so that the marketplace can figure out the best way to get people health insurance. Price has also supported giving individuals and small businesses the ability to pool together to, in his words, “gain the purchasing power of millions.”
This is good news. Better news is the fact that Price understands market economics and the role government can play to stifle competition and creativity in the marketplace.
If there is one thing liberals hate, it is competition
Price has been a champion of much needed legislation to protect Medicare Part D from Obamacare’s assault. Medicare Part D is the popular prescription drug plan based on market principles. Thanks to a bevy of competitive forces and inducements designed in the program, Medicare Part D has 37 million enrollees and costs for the program have come in under congressional estimates. When was the last time that happened?
Seniors have rallied to the program. One Chamber of Commerce study found that a whopping 84 percent of seniors are satisfied and an AARP survey showed nearly eight in 10 (78 percent) of those enrolled in a prescription drug plan say the new benefit is meeting or exceeding their expectations.
If there is one thing liberals hate, it is competition. That’s why they have long sought to change the program and involve the government in the process of fixing prices. Bernie Sanders and Hillary Clinton were cheerleaders for government price-fixing in Medicare but Price opposed their plans, noting that price controls will cause “harm to patients—higher costs, fewer drugs available [on limited formularies] and less quality health care.”
Mr. Price will clearly enter office with the attitude of “if it’s broke, let’s fix it” and “if it’s working, let’s do no harm.”
As a result, the days of government dictating prices and limiting choices, appear to be coming to an end. If Obamacare reform can be based on the principles that Mr. Price has championed since his election to Congress, there is little doubt Americans of all ages, colors and income levels will benefit.
Source: Canada Free Press
