Fmr. BB&T Chairman: Healthcare is Relatively Easy to Fix

A senior House Republican aide confirmed on Sunday that the GOP is ready to unveil its bill to repeal and replace the Affordable Care Act this week.

Former BB&T (NYSE:BBT) chairman & CEO John Allison believes that the Republican Party has done a lackluster job at trying to destroy Obamacare thus far.

“They [Republicans] got elected based on the idea of really repealing Obamacare. In fact, when I met with President Trump, he said that was a key factor in him getting elected,” he told the FOX Business Network’s Neil Cavuto.

Allison said that repealing Obamacare is actually simple to do, the Republicans just need to act on principle.

“They should repeal Obamacare, including the regulations, which is the worst part. Secondly, they just blocked grant Medicaid to the states, which would create—the states could focus the money on poor people and also could create competition and innovation among the states. And thirdly, they do large health care savings accounts and shift the tax deduction from corporations to individuals. It’d be a huge benefit so that individuals could negotiate their own health care,” he said.

Allison explained that if health care providers were allowed to compete across state lines, the different health care plans would be able to suit the needs of everyone.

“I need different health care than a 25-year-old. That would create price competition which is a real problem in medicine—there’s no price competition. And also it’d create incentive for me to take care of my health because the doctor says ‘listen, if you don’t change your diet you’re going to have some serious, expensive problems in the future,’” he said.