ObamaCare regulations limiting patients’ annual out-of-pocket medical spending have been postponed for a year. New York Times columnist, Robert Pear explains:
The limit on out-of-pocket costs, including deductibles and co-payments, was not supposed to exceed $6,350 for an individual and $12,700 for a family.
The Washington Post dismissed the holdup as little more an accounting problem.
However, this particular “consumer protection” actually harms consumers. Consumers ultimately pay the cost of health coverage directly or indirectly ― as premium hikes and reduced wages. The market should be free to find the best allocation.
A recent value-based plan design tested by the California Public Employees’ Pension found that when patients are given control over the marginal cost of their care they become price conscious shoppers and significantly lower costs for themselves and their employer.