Wyoming Liberty Group
President-elect Donald Trump promises to repeal and replace Obamacare. What does this mean for patients, doctors, and taxpayers? Charlie Katebi and KGAB's Gary Freeman discuss Trump's healthcare agenda and the future of healthcare in Wyoming.
Entitlements used to be considered the “third-rail” of American politics. Now the public recognizes that without major changes to Medicare and Medicaid, both programs threaten our fiscal future. Fortunately, there are reforms that not only save taxpayers money, but also deliver better healthcare to the elderly and needy.
Medicare and Medicaid are the two largest government-run health insurance programs in the United States, and arguably the world. Combined, they cover an estimated 120 million Americans and spend a quarter of the federal government’s budget. And without major reforms, these entitlements threaten to bankrupt taxpayers and hang patients out to dry.
For most of us, our healthcare is paid for by someone else; either our employer or a government entitlement program. When someone else is paying, why bother shopping around for the best price? Now an innovative new company has found a way to make patients cost-conscious and lower prices.
Since World War II, employer-sponsored insurance has remained an untaxed benefit. Companies began offering health insurance to attract workers after the Roosevelt Administration imposed wage freezes. These benefits became so popular that large employers successfully lobbied the IRS to exempt health coverage from taxation in 1943. This allowed businesses to compensate workers through untaxed benefits. And workers enjoy untaxed compensation in the form of health insurance.
Charlie Katebi spoke with Chuck Gray on KVOC about Medicare’s 50th anniversary and reforms the US House of Representatives are planning that will make it more solvent and patient-focused. Aug. 11, 2015