McConnell to unveil revised GOP health bill on Thursday

Senate Majority Leader Mitch McConnell says he plans to unveil a revised health care bill on Thursday and begin voting on the measure next week. This comes as the Senate also announced a two week delay to their August recess.

McConnell made the following announcement Tuesday about the Senate’s August recess:

“Once the Senate completes its work on health care reform, we will turn to other important issues including the National Defense Authorization Act and the backlog of critical nominations that have been mindlessly stalled by Democrats.

“In order to provide more time to complete action on important legislative items and process nominees that have been stalled by a lack of cooperation from our friends across the aisle, the Senate will delay the start of the August recess until the third week of August.”

Here is a simple proposal that would bring back markets and clearly distinguish between healthcare and true insurance:

1. Health savings accounts that would be topped-off directly by government for the very poor and neediest.

2. Beyond the HSAs that people would use to pay for all routine medical services, true catastrophic portable health insurance.

3. Tort reform.

4. Do away with government designed insurance and state insurance barriers.

5. Do away with most government regulation but require transparency of pricing.

A system like that would remove existing distortions, return us to a market based system, and reduce costs substantially by reducing unnecessary use.

A key feature, other than removing the government from getting between doctors and patients, is that it separates the responsibility for health maintenance costs from catastrophic insurance.

The ultimately objective should be to keep it simple.

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