Competition is reducing costs in health care. That’s the argument in a recent Fortune article by Ezekiel J. Emanuel, Chair of the Department of Medical Ethics and Health Policy at the University of Pennsylvania. Exhibit A is the health insurance exchanges of the Affordable Care Act. An evaluation by Kaiser Health News of the 2015 premiums for plans in 34 states with federally operated exchanges shows that in counties with no new insurers in the market, premiums increased an average of seven percent. In those with at least one new insurer, premiums increased just one percent.

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