The best method I have found to explaining a libertarian position on
health care consists of showing how government has made it harder for everyone
to get health insurance. Explaining the mechanics of Medical Saving
Accounts and introducing competition into the system sometimes requires
to much economic explanation.
According to the Pharmaceutical Manufacturers’ Association, it now costs
$359 million and takes 12 years to get a single new drug approved by the
FDA. This greatly raises prices and delays life saving medication to terminally
sick patients.
Insurance companies are also forced to comply with over 800 state medical
mandates. These include forcing health insurers to cover toupees, psychiatric
services, and teeth-whitening. Although these mandates provide additional
income for toupee manufacturers, psychiatrists, and dentists, they
increase the cost of health insurance enormously for everyone. Eliminating
these mandates would be the easiest and fairest way to increase the number
of people with health insurance.
