Doctors, hospitals and health insurance companies in California will be limited to annual price increases of 3% starting in 2029 under a new rule state regulators approved Wednesday in the latest attempt to corral the ever-increasing costs of medical care in the United States.
The money Californians spent on health care went up about 5.4% each year for the past two decades. Democrats who control California’s government say that’s too much, especially since most people’s income increased just 3% each year over that same time period.
The 3% cap, approved Wednesday by the Health Care Affordability Board, would be phased in over five years, starting with 3.5% in 2025. Board members said the cap likely won’t be enforced until the end of the decade.
A new state agency, the Office of Health Care Affordability, will gather data to enforce the rule. Providers who don’t comply could face fines.
Public option would’ve been nice. Removed by Republicans from the final ACA bill. RIP.
As I understand it the public option is the government acting as a provider itself, some things it could do cheaper, others could be done better by private practice, but conservatives really didn’t want people to have a public competitor… even if it’s optional. That is how I understand the concept of public option, is it somewhat close to right?
oh yes I liked the public option. Its pretty much in place to as it would just be an extension of medicare/medicaid which is already a public state run insurance system. it should be basically be a buy into medicare for younger folks.