An Alternate Approach To Fix Obomacare

An Alternate Approach To Fix Obomacare

Suppose an option were added to allow individuals to substitute cash for insurance. I would suggest individuals should be allowed to open health savings accounts which would allow untaxed funds to be used for an individual's health needs. To address those individuals with existing health needs and indigent people without funds to contribute, the government can directly fund those accounts.

For a minimum balance in the hsa, the individual would be exempt from the fines now being accessed. No restriction on acquiring insurance should be imposed if the hsa funds are depleted, including using the remainder of the has to acquire the new insurance.

The hsa funds would be owned by the individual which would give them an incentive to seek the best, most cost effective health care. Doctors could accept the hsa funds without the paperwork currently driving up costs.

With this system, the total health care cost could be lower than the excessive deductibles now being charged.

If the resulting market crowded out health insurance, with hsa's, all the expense in the insurance companies paperwork factory and the government over site would be saved. The initial savings would be multiplied by the market forces unleashed when millions of consumers critique the medical services. It would also remove the open loop control by government workers which is detrimental to the consumer.