Speaking on a a national television program Friday, US Senate candidate Rand Paul discussed free market innovations in health care that would reduce costs and do away with the need for huge tax increases needed to fund Democratic Party proposals.
Dr. Paul spoke about President Barack Obama’s health reform plans on the Glenn Beck Show on Fox News Channel.
“The President says he is not going to pull the plug on Grandma, but I think what he really means is he’s not going to put the plug in in the first place, because some committee is going to decide ‘what is the cost/benefit analysis for Grandma?’”
Rand also discussed allowing insurance innovations that state regulations currently discourage or prohibit.
“What you need is multi-year insurance. You need health insurance to be more like term life insurance. If I have a heart attack today and I have term life insurance, I’m on a twenty year contract. They don’t increase my rate. But if I have a heart attack today and survive, my health insurance will be doubled because I’m on a one year contract.”
A change in the tax law Rand mentioned would also reduce bureaucracy and costs associated with providing care for poor people. His proposal would allow physicians to deduct the cost of charity work.
“That simple tax change could change quite a bit because not only would physicians be able to deduct service they didn’t get paid for or that they did voluntarily through charity, you could also get out of the way the middle man. The Medicaid system that is collecting all these taxes, swirling it around in your state Capitol and sending about fifty cents back to take care of people, all of a sudden it would be 100% of it taking care of the patient instead of 50% of it being lost in the bureaucracy of government.”
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