Those on the left are demanding a “public option.” They demand that the Congress establish a federally run provider than will compete with for profit insurance companies. We all know that this is inherently unfair due to the advantages enjoyed by government, given that the government will set the rules that regulate everyone. If the left is so confident in the efficiency of the federal government, and believe that insurance companies are gouging customers, why not put that theory to the test?
I suggest mandating that any federally operated public option plan be forced to operate as a for-profit entity. I further suggest that all profits from the public option be used to pay down the national debt. The law would have to establish a minimum benchmark by which the public option would create a return for the taxpayers who are investing in this plan. The minimum return should be based on the average rate of return that private for-profit insurance companies can deliver. The return seen from the public option entity would be used to pay down the national debt, which would benefit all Americans.
If the federally run government plan cannot operate at a profit, while providing the same care as private insurers, then it is clear that it is not as effective as private insurance and cannot be considered a solution to the rising cost of health care. There would also need to be provisions that would prevent the Federal Government from raising taxes in order to meet their profit. Laws would also need to be enacted that would prevent the Federal Government from borrowing against projected returns. If they cannot lower costs, as they claim, they are no different than the private insurance companies. If there is no difference between the performance of private and government run providers, there is no reason to switch to a single payer system that would undermine competition and threaten further medical innovation. If the government run option, after ten years, cannot meet it’s required profit targets it should be abandoned for a real solution to the cost of health care that actually works. For once, let’s make the Federal Government play by the same rules as everyone else.