A Public Option Would Leave Us Optionless

Choice and competition are the bedrocks of innovation and affordability in the market. If there are multiple companies competing for consumer money, the winner will be the one which either increases the value of their product or finds a way to lower its cost. In contrast, fewer choices and less competition give companies more leverage to set higher prices and relieve any pressure to add value.

Last Thursday, President Obama seemed to reaffirm these bedrocks in his speech on fixing the Affordable Care Act (ACA). Unfortunately, the public option he proposed to increase choice and competition — perhaps the most consequential of his three “tweaks” — would do the exact opposite. Continue reading “A Public Option Would Leave Us Optionless”

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