Democratic presidential candidates are repeating one of President Obama’s worst mistakes, one that arguably cost Democrats the 2010 midterms. Rather than focusing on bringing down medical costs—which are ever on the rise—Democrats are pushing policies that primarily aim to expand coverage and shift costs to taxpayers.
As Mr. Obama did, the Democratic hopefuls pushing massive health-care overhauls pay lip service to cutting costs, but there isn’t compelling evidence that their plans will do so. It’s now evident that the Affordable Care Act did nothing to bend the price curve down, as Mr. Obama promised it would. One look at the math underlying Sen. Elizabeth Warren’s Medicare for All scheme should dispel any illusions that the new plans will be any better.
Most Americans like their health insurance as it is. Their complaints revolve around high out-of-pocket drug prices, deductibles and hospital bills. Insurers are increasing cost-sharing across health-care plans in an effort to curtail premium prices and tamp down overuse. Even a good policy won’t give you much relief from high deductibles and other out-of-pocket costs. …
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