On Thursday, the Senate Republican leadership unveiled an updated version of the Better Care Reconciliation Act of 2017. While it is an imperfect legislative product, it is nonetheless a major improvement over the status quo.Obamacare has wrecked both the individual and small group health insurance markets.After seven years, millions of Americans enrolled in the individual markets have suffered premium rate shocks—amounting to 25 percent on average this year alone—breathtaking increases in their deductibles, and precipitous declines in choice and competition within the individual market.
This week, the Centers for Medicare and Medicaid Services reported that fewer insurers have applied to sell Obamacare plans for 2018. Today, a stunning 70 percent of American counties have only one or two health insurers offering plans.
The Senate health bill released Thursday represents a solid first step in reversing these Obamacare-induced failures.