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Published on Aug 22, 2012
Sean Duffy talking on WIXK with Jeff Peterson about Medicare. He compares buying a lawnmower to the way he would like the Medicare system to be.
7:21 Interviewer: Like you said then again though, there's no cost controls on what the insurance companies make. Well, lets take a look at the Affordable Care Act that's been put in place. There was a provision in it that said that 85% of the money going to insurance companies would have to be shown to being paid out in patient expenditures. Would you support something like this be a part of the Romney-Ryan plan? Duffy: You're talking about cost controls Interviewer: Yes Duffy: Um, first of all, do we have cost controls for Interviewer: Cost allocation more than cost controls 7:50 Duffy: Listen, do we have cost controls on lawnmowers? Interviewer: No we don't but a lawnmower is different than a heart surgery. Duffy: Because you have competition. And so if you have competition within the plans you have a right to purchase in the exchange of Medicare um, we believe that that competition drives prices down. And uh, when we see markets work in competition in any sector of the economy, we see higher quality and lower prices. And that's what we're advocating for within healthcare. Uh, price transparency, competition, and when you have that, and when you empower the consumer, you empower the individual with information to go in and buy a product that works for them, we see the end result far better off for the consumer. And um, that's what we're advocating for. And I do have to run but I thank you for your questions.