As cries grow louder and louder about the rising cost of health care , many are looking to the government to help them combat the escalating prices. But from the looks of a report by the Congressional Budget Office, the federal government has its hands full trying to deal with the individuals whose health care they are already responsible for.
According to the report, spending on Medicare, Medicaid and Social Security, which in 2001 represented about 8 percent of gross domestic product (GDP), will balloon to 14.5 percent in 2030 and will consume 25.7 percent of GDP by 2082. In order for taxes to keep pace with this growth in spending, the CBO says tax rates would have to more than double.
Rather than adding more people to the already bloated government tab, the solution lies in offering a wider variety of affordable health care options so that individuals can find health care services they can afford. That means eliminating regulations that limit the capabilities of nurse practitioners who offer a less expensive alternative to traditional health care providers and making the market more accessible to retail clinics that provide convenient and affordable health care.
Additionally, Texas is in a position to help curtail the federal government’s rampant spending spree. Our state receives $31 billion from the federal government to help fund health and human services in Texas. More than $20 billion of this goes towards Medicaid and CHIP — programs whose costs are controlled by the state. Texas should seek a federal block grant for Medicaid that would not only give the state more flexibility with the program but would also reign in reckless spending by putting a cap on available funds.
– Kalese Hammonds