
Opinion piece on the WSJ
A few days ago the CEO of Whole Foods, John Mackey, wrote an opinion piece in the Wall Street Journal about health care reform titled “Eight things we can do to improve health care without adding to the deficit.”
Here’s a summary of his eight reforms, but I encourage you to read the whole opinion piece.
1. Remove the legal obstacles that slow the creation of high-deductible health insurance plans and health savings accounts (HSAs).
2. Equalize the tax laws so that employer-provided health insurance and individually owned health insurance have the same tax benefits.
3. Repeal all state laws which prevent insurance companies from competing across state lines.
4. Repeal government mandates regarding what insurance companies must cover.
5. Enact tort reform to end the ruinous lawsuits that force doctors to pay insurance costs of hundreds of thousands of dollars per year.
6. Make costs transparent so that consumers understand what health-care treatments cost.
7. Enact Medicare reform.
8. Finally, revise tax forms to make it easier for individuals to make a voluntary, tax-deductible donation to help the millions of people who have no insurance and aren’t covered by Medicare, Medicaid or the State Children’s Health Insurance Program.
I am a big fan of high deductible health care plans and health savings accounts. You can use the the pretax HSA money on any legitimate health related expenses you wish. If you have sniffles and want to see the doctor just go to anyone you want and spend your HSA account to get the care you need. If you have a horrible accident or need an expensive surgery then the health insurance benefits cover the really expensive costs that could financially ruin you. That is what insurance is for, protecting you from financial catastrophe due to unforeseen events, not an E-ticket to free health care. I also love the idea of equal tax breaks for individually owned health insurance. You buy your own health insurance and is yours as long as you own the policy regardless of your employer. I will stop there so this is not too long winded.
I think that it is sad and a poor reflection on Whole Foods customers that the well thought out points in this opinion piece have lead to at least two Whole Foods customers vowing to never patronize the store again. It takes a special kind of hypocrisy to say that you are willing to pay premium prices for organic food, but are unwilling to spend one more dime of your money on your health care.