3. Allow individuals to buy policies across state lines. If one can find a better dental policy in Florida and a better surgery policy in New Jersey for a better price, then they should be allowed to make that purchase. Currently we can buy any product we wish in another state, except insurance. This reform would increase competition lowering the overall cost of health care and allowing individuals to have a more custom policy that better suits their needs.
4. Increase regulations on health insurance companies. Not the crazy labyrinth of senseless bureaucratic regulations, but the ones that make sense, like if you pay a policy premium then you should expect your coverage to kick in when it's needed. No exceptions, no loopholes. A policy is a contract; both sides should be required to uphold their end of the bargain.
5. Remove the cap on the amount that an individual can put into a Health Savings Account (HSA) and allow the money to roll over every year and grow. We should also allow banks to compete for these accounts by offering better interest rates. Like an IRA, it would be tax free as long as the money remains in the account. If you take it out for any reason other than medical, applicable taxes would be paid on the earnings. It's your money, you should keep it. Many people go for years without any major medical issues. Imagine a man who's been healthy most of his life and has amassed $50,000 in his HSA. He is diagnosed with cancer at age 65. His customized catastrophic health policy covers the majority of the cost, but his HSA will take care of the rest.
This plan is both constitutional and entirely free market based; we wouldn't have to give up an ounce of our liberty or any of the quality of our current system. The end result is more people will have access because the cost will be lower.
President Obama's plan may provide some sort of rationed care for everyone, but at what cost in quality of care, national debt and liberty to the nation?
This plan is a better starting place for a discussion than the irresponsible pattern of playing the race card or repeating the mantra that conservatives want to keep the status quo.
President Obama said that if we had any ideas we should put them on the table.
Well, here's my idea, officially on the table.
Leland Conway is the executive editor and co-founder of www.conservativeedge.com and the host of the Pulse of Lexington on News Radio 630 WLAP.
