Independent of federal health policy, employers can immediately begin reducing their healthcare costs by using their market clout to pursue price-transparent contracts with providers. Many employers have already begun doing this and their actions serve as a roadmap for others. Addressing pervasive waste through price transparency and competition can save nearly $1 trillion annually that can, instead, benefit employees in the form of higher wages and earnings.

This full text of this article will be available on this page nine months after its initial print publication. To read it now, please buy this issue in print or eBook format from our store, or in the newly redesigned Independent Review app on iOS or Android, or on Magzter which offers digital access on smartphones, tablets, and web browsers.