The Affordable Care Act, or Obamacare, addressed important goals including elimination of preexisting condition exclusions and lifetime caps on insurance payments. However, it did not address spiraling healthcare and its complexity is producing harsh, unintended consequences. It must be fixed. I support replacing the broken parts to control healthcare costs and putting individuals back in control of their doctors and their healthcare.
One of the biggest symptoms of the law’s failure is the dramatic dwindling of health insurance policies on the individual market. In the Ninth District, many residents are grappling with hard decisions after Blue Cross/Blue Shield of Illinois dropped some popular PPO policies, effectively locking patients out of NorthShore University Hospitals and affiliates and Northwestern Memorial Hospitals and its affiliates, including Lurie Children’s Hospital.
Prior to the adoption of the ACA, HSAs and FSAs were two vehicles that put patients in charge of their health care. New policy should allow for a greater tax benefit for using savings accounts to pay for out-of-pocket expenses. New health care policy might also allow individuals tax benefits for purchasing health insurance, just as an employer enjoys.