The markets have hummed along over the past few years, but there have been many problems lurking beneath the surface. “60 Minutes” recently did a piece on China’s housing bubble, which could have an adverse impact on the world economy. It’s also no secret that the eurozone nations are still struggling, and it’s plausible that a nation like Spain or Italy could eventually exit the currency union. My belief, however, is that the Affordable Care Act (a.k.a. “Obamacare”) might actually be the biggest obstacle to economic growth in the US in the upcoming years.
There are several issues in the ACA that could hamper economic growth moving forward. For this series, I want to focus, in particular, on five issues:
(5) Restrictions on high-deductible insurance plans
In my first article, I looked at some of the direct taxes implemented by the ACA and how historical tax increases had harmed private domestic investment and consumer spending. In my second article, I examined how the ACA’s subsidies could create a cost-spiral, and lead to large stealth taxes on many people purchasing insurance. In my last article, I examined the employment related provisions of the act and how they might impact the restaurant industry.
For this article, I want to look at the act’s prejudice against high-deductible plans.