Insurance

The Patient Freedom Act is a health care plan proposed by four Republican Senators and one of the more interesting aspects to it is that states can choose to keep Obamacare if they want. They did this knowing that the senate will need some Democrats to vote for the plan. This is a replace without repeal proposal. Senator Schumer, the senate minority leader, said he was opposed to the plan. A number of new ideas have come up regarding health care and this is the up side to open discussion, something that was missing when Obamacare was enacted. Ideas like using co-opts to form group insurance plans that allow preexisting conditions but still keep everyone in the plan. The idea to expand and fund health savings accounts not just for employer plans. The 60 million people under expanded Medicaid cost the government 660 billion or $11,000 per person. A major medical plan with a $10,000 annual deductible cost $2,500 per year. If the government puts the $11,000 into a health savings account and the person uses $2,500 to buy a major medical plan leaving $8,500 to cover their medical expenses for the year. Any money left over they keep until retirement at which time they can use if for whatever purpose they choose. These people will then be careful shoppers for health care and use only when necessary. The number of claims will drop drastically which in turn cuts administrative cost. Providers will love being paid up front instead of waiting months for insurance checks. This is the same concept that employers can use but it will now apply to everyone. Insurance companies will oppose this since it will eliminate millions of jobs in their industry.