Healthy, Wealthy, and Wise: Five Steps to a Better Health Care System (AEI Press), a new book coauthored by Dean Glenn Hubbard, proposes steps that may save as much as $60 billion a year and extend coverage to 20 million people who are currently uninsured.
The book shows how soaring costs and a lack of insurance coverage plague America’s health care system, creating vast inequalities in care. Reforming tax policies and health insurance regulations would reduce spending and make insurance more affordable, the authors say. They suggest making out-of-pocket health expenses fully tax-deductible, which would boost consumers’ incentives to make better health spending choices and give them more control over their treatment.
Dean Hubbard wrote Healthy, Wealthy, and Wise with John F. Cogan, a senior fellow at Stanford University’s Hoover Institution, and Daniel P. Kessler, a professor at Stanford’s Graduate School of Business and a senior fellow at the Hoover Institution.