5 Ways to Make Health Insurance Great Again

From FEE.org (Jan. 9):

The two major problems with the Patient Protection and Affordable Care Act are that, contrary to its name, it does not protect patients and it is not affordable. This needs to be remedied in the new legislation.

Insurance protects people against large, unpredictable costs. Instead, Obamacare-compliant policies entitle the insured to a free health check-up every year — at a predictable cost — but require them to pay thousands of dollars in deductibles before they can access benefits for unexpected expenses, everything from falling off a bike to getting cancer. For the lowest-priced bronze plan, deductibles in 2017 will average $6,000 per person and $12,000 per family, according to a recent survey by HealthPocket.

The new system needs to be more flexible and consumer friendly. Here are five elements of new healthcare legislation for lawmakers to consider.

1. Allow all plans on the exchange: Health insurance companies should be allowed to offer multiple health insurance choices, including catastrophic health plans for those who want to pay for routine costs out of pocket and insure only against major medical events. People should be able to buy insurance that does not cover birth control, mental health coverage, or kids covered until age 26, to give a few examples.
2. End guaranteed issue: Under Obamacare, insurance companies have to take anyone in any open enrollment period, so people can wait until they are sick to sign up. This is similar to being able to buy auto insurance after a car crash or home insurance after a fire. Naturally, it raises premiums.  People should get a discount if they sign up when they are young and healthy and keep continuous coverage.
3. Give all Americans refundable tax credits for health insurance purchase.
4. Allow plans to compete across state lines.
5. Accommodate pre-existing conditions:  Health insurance companies should not be permitted to raise premiums for pre-existing conditions if individuals have such continuous coverage.

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A good common sense plan that is not overly complicated unlike the Unaffordable No-care Act which is.