Price’s Obamacare alternative would save $2.34 trillion

Budget Committee vice-chair pitches Obamacare alternative.

Price

A proposed Obamacare alternative from Georgia Rep. Tom Price would save taxpayers trillions over the next decade, per a report from a former Congressional Budget Office director.

Dubbed the Empowering Patients First Act, H.R. 3200 has been pushed by the metro-Atlanta Republican for three consecutive Congresses, with the report being released yesterday.

“According to our analysis, H.R. 2300 would lead to smaller premium increases on average when compared to current law. The largest reductions would occur in narrow network and high PPO insurance products,” reads the analysis from Douglas Holtz-Eakin.

It goes on to list five “critical elements” of the bill, with those being “(1) guaranteed issue insurance coverage with no pre-existing condition exclusions; (2) interstate sale of insurance; (3) promotion of Association Health Plans (AHPs) and Health Savings Accounts (HSAs); (4) income-adjusted health insurance vouchers; and (5) malpractice and provider antitrust reform.”

The analysis goes on to say the alternative “achieves a substantial increase in the insured population” and “generates substantial taxpayer savings.”

Price himself took to National Review yesterday to tout the Empowering Patients First Act, arguing that “while Obamacare thrusts these Americans into government-run programs like Medicaid, H.R. 2300 instead provides them with deductions, tax credits, refundable tax credits, or advanceable refundable tax credits.”

-Brandon Howell

April 9, 2013