To Paul Ryan, More Market Incentives in Health Care Would Reduce Costs and Improve Care

(p. B1) . . . Medicare’s long-term funding gap — . . . is by far the biggest source of looming federal deficits.

. . .
(p. B13) Some health economists believe that a combination of higher taxes and more Medicare cost controls can solve the problem. Mr. Ryan does not. And his skepticism is healthy.
To him, the only way to reduce Medicare’s cost growth is to stop shielding people from the consequences of their decisions. If they want almost limitless medical treatments, they won’t be able to foist the bill on taxpayers, as they do now. They will instead have to buy a generous insurance plan, partly with their own money. The resulting market forces, Mr. Ryan argues, will eventually bring down costs and leave most people better off.

For the full story, see:
DAVID LEONHARDT. “Economic Scene; A Lopsided Proposal for Medicare.” The New York Times (Weds., April 6, 2011): B1 & B13.
(Note: ellipses added.)
(Note: the online version of the article is dated April 5, 2011 and has the title “Economic Scene; Generational Divide Colors Debate Over Medicare’s Future.”)

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