LOWER THE COST OF HEALTHCARE THROUGH MARKET & INNOVATION

Healthcare is too expensive because of government overregulation. We should advocate for market alternatives to heavily regulated employer-provided insurance such as the Direct Primary Care model. We should also reform how we bring new drugs to market and end practices such as patent evergreening which keep the cost of too many drugs artificially high. With more choices and free market forces, we will see a drop in the cost of healthcare overall.

AS PRESIDENT:

• I would urge Congress to remove limits on Health Savings Accounts. Currently, these tax-deductible accounts are capped at $4,150 per year for individuals or $8,300 for families. This fails to cover the cost of healthcare in America, which averages $13,493 a year per individual.
• We must lower the regulatory burden on the pharmaceutical industry, which imposes huge costs on research and development that both protects favored firms by erecting costly barriers to entry that crowd out smaller firms and increase the costs of end-products to consumers.
• As I already stated, I would end the practice of evergreen patents, which create artificial product monopolies that keep prices high. While I understand the need for firms to protect their profits, competition would result in better versions of already existing medications, greater innovation, and lower prices.