If Economists Designed Health Policy
By Arnold Kling
They would come up with something like this.
1. All Americans receive a voucher each year to purchase a standard plan from the private-plan provider of their choice.
2. Vouchers are individually risk-adjusted; those with higher expected healthcare costs, based on documented medical conditions, receive larger vouchers.
3. Participating insurance companies providing standard plans cannot deny coverage.
4. Each year a panel of doctors sets the coverages of the standard plan subject to a strict budget, namely that the total cost to the government of the vouchers cannot exceed 10 percent of GDP.
Organized by Larry Kotlikoff. Initial endorsers include Akerlof, Phelps, Schelling, Sharpe, and Vernon Smith, which gives you Nobel Laureates across the political spectrum. There is an option to add your endorsement, or a phony one. As of this writing, the list of endorsers includes an entry for Barack H. Obama, whose listed occupation is “President/community organizer.” If I were listed as an endorser, it would also be suspicious. I’m not so hostile to the ideas, but I am not a petition-signer by nature.