Mark Cuban: Use single payer to cover all chronic or life-threatening conditions

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Billionaire businessman Mark Cuban pitched his own plan to fix the Affordable Care Act on Wednesday, amid the House Republican effort to unravel the law.

He detailed the idea on his blog, Blog Maverick. It amounted to single payer coverage for chronic physical and mental illnesses and life-threatening injuries, and standard insurance for all other healthcare.

"Whether it's Medicaid or a new program, every single person in this country should be covered 100% for chronic physical or mental illness and for any life-threatening injury.

"The premiums that we are paying to insurance companies as individuals or as company coverage for these significant risks would go from the insurance companies to the IRS. Only the cost of covering the what’s left would continue being paid to the insurance companies.

"It would not be hard to do the math. Every insurance company does this analysis already. The government does this analysis already. We all would end up paying more in taxes, but less in insurance and healthcare costs over time.

"There would be no mandates. There would be no individual penalties. No tax credits. No subsidies. No offsets or deductions for buying higher end insurance. This will be single payer (yes I know it's a dirty phrase in this country) for chronic physical or mental illness and for any life threatening injury.

"Everything not covered by the above can be covered by insurance sold on the free market, managed by the states, sold across state lines, without government interference."

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