Sunday, August 30, 2015

BusinessWeek shoots down Republicans' plans to replace Obamacare

Bloomberg BusinessWeek examines various Republican presidential candidates' claims and proposals for replacing Obamacare.   Whether it is the somewhat worked out plans of Walker, Rubio, and Jindal or Trump's boastful claim that he would replace it with "something terrific," the editorial concludes that none is likely to maintain Obamacare's current level of coverage.

As to costs, the article cites the Congressional Budget Office:  "Repealing Obamacre would add to the deficit, because the law's tax increases and cuts in Medicare raise or save more money than its new benefits cost."

The conclusion from BusinessWeek about replacing Obamacare:
"If a candidate can devise a better way to provide the same level of coverage to the same number of Americans at equal or lower cost, in a package that is likely to pass Congress and survive court challenges, great.   Something that accomplishes less wouldn't be progress."
Let me underline this opinion from the editors of this center right business journal.   So far, no one running for the Republican presidential nomination has come up with a plan to replace the Affordable Care Act that would work as well while also reducing the federal deficit.

Now, if we want to consider the Democratic side, there is a simple solution -- but it's not yet politically feasible:   A single-payer system or, simply, expanding Medicare to cover everyone.

As one who has been on Medicare for 18 years, I recommend it.    The administrative efficiency, the lack of advertising expenses, and the ability to exert some control over both pharmaceutical and medical costs make it unbeatable.   It's my belief that, given a receptive Congress, all of the Democratic candidates would agree.


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