Pres. Bush noted in a speech earlier this week that health care is a drag on the economy and family budgets. Ben Bernanke, Chair of the Council of Economic Advisers, said ” These are issues that we are going to have to address because they are significant.”
According to California HealthLine, Bush’s proposals “include tax-free health savings accounts, tax credits to help low-income individuals purchase health insurance, association health plans, support for new technology to reduce medical errors and limits on medical malpractice lawsuits.”
These are at best tweaks around the margins. Take limits on med mal lawsuits. Total costs for all expenses associated with medical malpractice, including defense, insurance, etc., amount to 0.46% of total medical costs. Medical malpractice is NOT driving health care cost inflation.
New technology will do little, if anything to address the underlying drivers of health care costs which are technology and price per service.
It is troubling that the President has done so little to address an issue which is at the heart of the nation’s economy as well as the wellbeing of its citizens.
Aug
12
