Every American should have access to affordable, high-quality health care. This is possible through one overarching remedy: transforming the model from one that is government-led to one that is market-led.

The Committee for Economic Development (CED) has developed a set of policy remedies to put our health-care system on sound footing:

Provide each family or individual with a refundable tax credit, usable only to purchase health insurance. By doing so, we also eliminate the need for the divisive individual and employer mandates. The amount of the tax credit should be the cost of the base insurance plan available in that consumer's region. If a plan can convince consumers that it is worth more than the base premium, great, then the consumer can pay the incremental cost. That way, plans and providers will have every reason to deliver the highest quality care at the lowest possible price. It's called "competition," and it works everywhere else in our economy.