Is there a free market solution to health care crisis?

Published: July 31,2009
Time posted: 9:36 am
by Amy Gillentine

One Colorado Springs man believes he has the solution to the health care crisis — and it isn’t more government programs, subsidies or taxes.

In fact, Steve Hyde believes free markets can address the issues with costs and access.

His idea, outlined in the book, “Cured,” is to give people the money to buy their own insurance. Businesses would provide cash to employees to purchase insurance and the government would provide it to people in lower income brackets, instead of paying Medicare and Medicaid.

“Then you could take the money, and insurance companies would compete for your business,” he said. “The doctors would also compete for your business — and you could pick the best ones who offer high-quality service at the lowest price.”

Doctors do not compete with one another now, he said, and that leads to poor quality care. Insurance companies only compete in the large-group market.

Government does have a role in this plan…

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Amy Gillentine covers health care for the Colorado Springs Business Journal.
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