Burlison Targets Fed Interest Payments to Fund Great American Healthcare Act

U.S. Rep. Eric Burlison (R-Missouri) has proposed a plan to fund his Great American Healthcare Act by redirecting $1 trillion in interest payments from the Federal Reserve to banks over the next decade towards healthcare costs.

The Great American Healthcare Act aims to expand eligibility for Health Savings Accounts, raise yearly contribution limits, and increase price competition in the healthcare market. It also requires hospitals and insurance brokers to display real dollar prices instead of estimates for treatments and healthcare plans, respectively.

Burlison stated that his bill answers the question of how to pay for healthcare by reforming the Federal Reserve's authority to pay interest on reserve balances. He believes that this will help offset the cost of putting patients back in charge of their healthcare.