Obamacare has made America’s $3.2 trillion health-care system more costly and bureaucratic, while still leaving many millions of Americans uninsured. To lower costs and improve care, a healthy dose of competition and deregulation is urgently needed. Here are four steps that Congress and the new Trump administration can take:

KEY FINDINGS

1. Repeal Obamacare and transition to catastrophic health-insurance plans linked to expanded Health Savings Accounts
2. Enact per-capita Medicaid spending caps
3. Create a new conditional-approval framework at the FDA
4. Encourage outcomes-based payments

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