Tom Price’s Obamacare Alternative Could Save $2.34 Trillion Over 10 Years

Heather Ginsberg

12/8/2013 7:25:00 PM - Heather Ginsberg

Representative Tom Price of Georgia has come up with an alternative to Obamacare, and it would save the country nearly $2.34 trillion in 10 years. The legislation is called the Empowering Patients First Act, H.R. 2300.

The proposed legislation would “provide Americans with tax incentives for maintaining health insurance coverage, improve access to health savings accounts (HSAs), reform Medicare and Medicaid, and allow consumers to purchase plans across state lines. It would also guarantee coverage for roughly 1% of Americans with pre-existing conditions.”

A former director of the CBO estimated that these reforms would reduce health insurance premiums across the board and reduce the budget by almost $2.34 trillion. It would help lead to smaller premium increases than what Obamacare provides. Additionally, the number of insured people would increase by roughly 29% in 2016.

Of course Obama has claimed that Republicans have not offered any ideas for other reforms to health care and cut costs. But obviously that is not true. This is a great alternative that would help insure almost as many people as Obamacare, but save much more money. Mr. President, here is the perfect alternative.