It doesn’t matter if you like the ACA or hate it. It doesn’t matter whether you want it repealed or think it should stand. Obamacare, the ACA, got it all wrong.
It’s not that we didn’t get the single-payer system that was really needed to make it work. It’s not the stupid language oversights in the 900 page act that no one caught until now. It’s not that insurance companies had to revamp their policies and increase prices. It’s not that some people lost their insurance. What Obamacare got wrong is, it tried to work within the system. Systems are always designed to resist change. Making insurance mandatory for all, as we see, didn’t do anything to spread the pain, cost, or burden. What was really needed was a law making insurance illegal.
Yes. I said, “Make insurance illegal.” If you think gambling is a sin, but still buy insurance, you’re a sinner. Insurance is simply placing a bet that something catastrophic will happen and you win a big payout. As with all casinos, the house always wins. At the core, banning insurance is a simple thought exercise in Economics 101. Supply and Demand rules every market.
You’re thinking, “But medical care is so expensive, I have to have insurance to pay for it all.” But that’s a faulty thought experiment. You have to ask, “Why is medical care so expensive?” Is it to pay for doctor’s expensive medical degrees? Is it because we need to pay for highly skilled nurses and techs? Is it because we need to fund some research? Is it because we need to pay for a new hospital wing with the latest technology? No. No. No. No. And No. It’s supply and demand.
Insurance companies have a huge supply of money, therefore medical facilities, doctors, and drug companies can demand large amounts of that money for their services and products. What would happen if that large supply of money wasn’t there? Economics 101 tells us that without that supply of money, no one could demand that money. In other words, prices would fall. Take Lasik eye surgery,for example. Insurance doesn’t cover Lasik. In the last decade Lasik has dropped from $3,000 per eye to $300 per eye. All because medical consumers had to pay cash for Lasik. Without a huge pile of money waiting to be sent from an insurance company, Lasik providers had no choice but to lower their prices to something the cash market would bear.
If we were to rid ourselves of that supply of medical insurance money, doctor’s couldn’t charge $200 for an office visit. They’d have to find a reasonable cash price the average patient could pay if they wanted to stay in business. Drug companies couldn’t charge $900 for some newly developed drug. They’d have to make their pills attractive to the wallet of the average demographic.
Obamacare tried to spread the cost by making everyone buy insurance when the real solution to universal health care is to make insurance companies illegal and open the market up to unsupplemented market forces. Unfortunately, politics isn’t a product or service that follows the rules of economics and we as political consumers never get what we paid for.