Liberty Leader’s Health Care Letter Published in WSJ
Liberty Leader Richard Lorenc had a letter to the editor published in the online Wall Street Journal today.
In today’s Wall Street Journal Online Edition, Liberty Leader Richard Lorenc had a letter to the editor printed in response to “”Don’t Believe the Writedown Hype“” Op-Ed written by Commerce Secretary Gary Locke on April 1st.
Locke said, “”These cost savings are real. They will grow over time. And they will make U.S. businesses more competitive.“”
Mr. Lorenc disagreed and responded by saying the recently passed bill didn’t address the root of the problem of escalating costs for health care.
“”Although this law may correct insurance incentives slightly, it maintains the employer-provided insurance status quo which shields patients from the true cost of their health care and incentivizes overconsumption. The law also creates new subsidies for small businesses, which, like tax breaks, will prevent the efficient operation of the health-insurance market and encourage higher prices.””
The Illinois Policy Institute previously addressed how the current employer-provided insurance and 3rd party health care payment systems are not working in controlling costs, and why we need consumer-driven health care reforms to strike at the root of the problem.
Read our policy brief “”Why Healthcare Costs So Much“” for more information on how to control health care costs.