Not to be upstaged, yesterday House Budget Committee Chairman Paul Ryan delivered a speech outlining his vision for repealing and replacing Obamacare. He framed the argument thus:
We should empower patients, not only with resources and choices, but also with information. Patient-centered reform must promote transparency on price and quality – and give patients the incentives to act on this information. By putting the power into the hands of individuals, we can let competition work in health care just as it does everywhere else.
Instead of top-down price controls imposed by 15 bureaucrats at IPAB, let’s try bottom-up competition driven by 300 million consumers.”At its core, the health care problem is one of inflation, driven by the overutilization of services, dramatic underpayments, and massive inefficiency.”
Ryan argued, “At its core, the health care problem is one of inflation, driven by the overutilization of services, dramatic underpayments, and massive inefficiency.” All problems Obamacare makes worse, he maintained. His solutions were converting Medicare into a premium support system, block granting Medicaid to the states, and a portable, refundable tax credit for everyone else to purchase health insurance, among other market-based reforms.