by Michael Tanner
February 03, 2014
Health care reform was designed to accomplish three goals: provide health insurance coverage for all Americans, reduce insurance costs for individuals, businesses, and government, and increase the quality of health care and the value received for each dollar of health care spending. With the most significant provisions finally kicking in, we can say that, judged by these goals, the new law should be considered a colossal failure. Individual and employer mandates will ultimately force individuals and businesses to change their plans in order to comply with the government’s new standards for insurance. The legislation will actually increase U.S. health care spending, and it imposes more than $1 trillion in new or increased taxes, the vast majority of which will fall on businesses. All of this represents an enormous price to pay in exchange for the law’s small increases in insurance coverage.