Competition is Rx to slow health costs
Three years into the Affordable Care Act, America’s employers are still looking for the affordable part.
Despite a recent slowdown, health care inflation remains two to three times the rate of general inflation. Health insurance is expected to cost a family $16,000 this year, double what it cost a decade ago.
No one understands better than employers that this is bad for business. The rising cost of health care is sapping U.S. competitiveness, taking money out of employees’ pockets and commanding too much of our nation’s economic output.
This is why Congress must focus on cost containment, the unfinished business of health reform, as it works to tame entitlement spending and the deficit. Congress can tackle the cost issue head-on by making both public and private-sector payment for care dependent on delivering the high-quality care every hardworking American deserves. Read the full article here.