Richard Epstein of New York University School of Law describes what he sees are the problems with the Affordable Care Act (ACA), focusing primarily on the health insurance exchanges. The main problems with the health reform law, he says, are that it replaces relative stability with instability, quashes innovation, and generates legal and administrative congestion. According to Epstein, many of the features of the health reform law that have the greatest popular support (e.g., child coverage up to 26, non-exclusion for preexisting conditions) could have been enacted on their own, or might have evolved in a market setting anyway. Instead, he says, the law deals with insurers in a ham-handed way, which threatens to implode the insurance market entirely. There was no justification, argues Epstein, for such government involvement; paraphrasing John Milton, "Necessity is the tyrant's plea."
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