The Patient Choice, Affordability, Responsibility and Empowerment Act would reduce healthcare costs, lower premiums, expand coverage to more Americans, increase healthcare productivity and reduce the nation’s debt, according to a recent analysis by the Center for Health Economy.
Sens. Richard Burr (R-N.C.), Orrin Hatch (R-Utah) and Tom Coburn (R-Okla.) introduced the measure, which would repeal the Affordable Care Act and provide alternative healthcare reforms.
“(This) analysis shows there is a better way than Obamacare,” the senators said. “Our plan gives individual Americans greater control over their own healthcare and asks government bureaucrats to leave the exam room. Using smart insurance market reforms, putting small businesses more on par with Fortune 500 companies and giving individuals – not government – more tools to make the best decisions for themselves is a prescription for success.”
The Center for Health Economy analysis concluded that the Patient CARE Act would save almost $1.5 trillion over the next decade. The measure would also lead to across-the-board premium reductions, including a reduction of as much as 11 percent in the individual market for single policies.
“Moving forward, we look forward to working with our colleagues and all interested parties to further build upon this proposal as we seek to replace Obamacare with a patient-centered, market-driven system that is affordable, sustainable and fair,” the senators said.
The proposal would also increase medical productivity by two to three percent and help reduce the national debt by decreasing federal healthcare spending, according to the analysis.