by Richard A. Epstein, David A. Hyman
Manhattan Institute
March 26, 2012
Despite the president’s promise that “you can keep your own insurance,” key Patient Protection and Affordable Care Act provisions are calculated to undermine the long-term viability of the private insurance market, by making existing coverage unaffordable or unavailable at any price. Indeed, while individuals may technically be allowed to keep their plans, that protection exists in name only. Plan serial numbers may temporarily remain the same, but the Patient Protection and Affordable Care Act’s combination of high taxes, large subsidies, and extensive mandatory contractual terms seems likely to eventually drive most private insurance plans out of business.
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