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On Thursday, the Senate Republican leadership unveiled an updated version of the Better Care Reconciliation Act of 2017. While it is an imperfect legislative product, it is nonetheless a major improvement over the status quo.
Obamacare has wrecked both the individual and small group health insurance markets.
Years - Millions - Americans - Individual - Markets
After seven years, millions of Americans enrolled in the individual markets have suffered premium rate shocks—amounting to 25 percent on average this year alone—breathtaking increases in their deductibles, and precipitous declines in choice and competition within the individual market.
This week, the Centers for Medicare and Medicaid Services reported that fewer insurers have applied to sell Obamacare plans for 2018. Today, a stunning 70 percent of American counties have only one or two health insurers offering plans.
Senate - Health - Bill - Thursday - Step
The Senate health bill released Thursday represents a solid first step in reversing these Obamacare-induced failures.
It would repeal both the individual and the employer mandate penalties, it contains provisions to lower premiums and increase the availability of insurance plans, and it would make it much easier for states to control their own health insurance markets.
Steps - Series - Blows - Obamacare - Restrictions
These steps represent a series of initial blows against Obamacare’s intrusive and unprecedented federal restrictions on personal and economic freedom.
By making it easier for states to secure waivers from many of Obamacare’s mandates, the bill moves to restore the traditional authority of the states to regulate their own health insurance markets in accordance with the particular wants and needs of their citizens. This will help to spur bottom-up innovation in health insurance benefit design, as well as payment and delivery reforms.
Bill - States - Funding - Health - Insurance
The bill would also provide states with special funding to help stabilize their health insurance markets and to assist low-income or high-risk persons with premium and out-of-pocket costs.
Obamacare included major tax increases. The Senate bill cuts a variety of taxes, including those on health insurance, drugs,...
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