In this episode, Jenny Beth Martin interviews Michael Cannon, Director of Health Policy Studies at the Cato Institute, for an in-depth examination of America’s broken healthcare system and the policies driving today’s soaring premiums. Cannon explains why Obamacare has failed on its own terms, how federal incentives distort pricing, and why millions of Americans still face insecurity and inadequate coverage despite record government spending.

Cannon breaks down the root causes of skyrocketing healthcare costs, including the tax code’s employer-based insurance distortions, overregulation, price-insensitive consumers, and the perverse incentives embedded in Obamacare’s core structure. He also details how COVID-era subsidies masked the true cost of coverage, why premiums are set to continue rising, and how backdoor discrimination against people with serious illnesses has become widespread.

The conversation covers the Trump-era insurance reforms that temporarily lowered premiums, why Biden reversed them, and how Congress could codify these options to expand choice without spending more taxpayer dollars. Cannon also exposes the Medicaid funding “shell game” used by states to pull down federal money, the risks of growing federal debt, and the constitutional problems at the heart of Washington’s involvement in health insurance markets.

Topics include:
• Why Obamacare increases premiums and reduces coverage quality
• How federal subsidies fuel fraud, waste, and price inflation
• The mechanics of backdoor discrimination against the sick
• What the Trump 2018–2024 rule accomplished and why it matters
• The constitutional issues behind federal control of health insurance
• The Medicaid financing scam and why costs keep rising
• Market-based reforms that would lower prices and expand access
• Why Congress must reform the tax code to empower workers
• How to make health insurance more secure, portable, and affordable

Michael Cannon | X: @mfcannon

Jenny Beth Martin | X: @jennybethm