via Wall Street Journal
With the end of the Obama administration on the horizon, Republican presidential candidates—and members of Congress—are proposing ways to replace or repair the Affordable Care Act. Undoing the damage of ObamaCare may finally become a realistic possibility.
For now, Americans are experiencing the law’s natural consequences: rising health-insurance premiums and limitations on individuals’ choice of physicians and hospitals. Further consolidation in the insurance industry and among providers will likely drive health-care costs even higher. To reverse these trends, any replacement for ObamaCare should include two essential elements: high-deductible insurance coverage and health-savings accounts.
Well-designed high-deductible insurance—in which the individual pays a few thousand dollars for most health-care services before the plan kicks in to cover claims—restores the fundamental purpose of health insurance: to reduce the financial risk of large and unanticipated medical expenses..
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