Anyone with sufficient information and basic intelligence now realizes that ObamaTax needs to repealed. The debate as to whether or not it should be replaced is another issue. Yes, it needs to be "replaced", but not with more legislation; it needs to be replaced with free market solutions such as the ability to purchase insurance in any of the 50 states. It needs to be replaced:
1. With higher limits on HSA contributions and easier access to HSA's (ObamaTax does the opposite).
2. With different types of insurance products (that the free market will provide) for different types of situations, such as a very high deducible policy with very low premiums for only catastrophic events (this product does not currently exist in New York State).
3. With an individual market of various high-deductible insurance plans instead of the comprehensive insurance purchase mandates by the federal government.
4. With associated payment plans (similar to the paydown of a loan) toward the high-deductible. Also, one should be able to deduct the interest charged from this product on their federal taxes.
5. With tax benefits for those that maintain HSA's (such as the ability to contribute with pre-tax dollars to a personalized, portable HSA where one also maintains their bank, credit lines/loans, and retirement accounts).
Other counterproductive legislation (redundant?) needs to be repealed as well. The McCarran–Ferguson Act was passed by Congress in 1945, and has wreaked havoc on individuals purchasing health insurance and health care ever since. It confines one's ability to purchase health insurance products to their state of residence only, leaving the other 49 states unable to compete for someone's business. As Representative Paul Gosar (R-AZ) has illustrated, this also must be repealed in order to:
1. Restore competition among health insurance companies as it corrects an historical error that granted an exemption to health insurance companies from federal anti-trust and unfair competition laws.
2. The McCarran–Ferguson also prohibits class action suits against health insurers in antitrust lawsuits, but it maintains legal enforcement actions for wronged individuals on a case by case basis.
Similar to The Patient Destruction and Unaffordable Care Act, The McCarran–Ferguson Act (or at least the majority of it) hurts us far more than it helps us. Mark Levin commonly states that "everything the government touches turns to crap!" Not only is this statement true, but it is also attributed to a very unlikely source; Beatles drummer Ringo Starr. Congress need not "let it be" and repeal legislation that:
1. Restricts supply.
2. Increases demand.
3. Inevitably raises costs, allowing Congress the ability to blame the market for their own failures.
This also illustrates the cowardice of the Democrat Party leadership. They knew that repealing this law in 2009 would help reduce costs by fostering a more robust market, however they completely failed to do so, as outlined in this Slate article.