Create incentives and drive innovation for health insurance companies to lower premiums thru a Tax Credit similar to the R&D tax credit.
For example, each % reduction in premiums for a given year, the insurance company could receive tax credits on their research and actual implementation of lowering the cost of care . The research and activity can only qualify if it is implemented and results in lower health premiums AND equivalent or better health outcomes.
There must be an actual reduction in premiums for the employer group or individual premiums. No funny accounting gimmicks. The actual premium cost for the same equivalent policy and for the same age must go down from the prior year. No changing up the benefits and renaming the policy, or changing deductibles or other policy benefits each year.
Additionally- stop inflation adjusting deductibles! There could be additional incentives to maintain the deductibles or decrease them.
Allowing joint ventures between employers, hospitals, medical providers and insurance companies to incentivize the research on the cost reduction innovations and all could participate in the tax credits.
I would prefer the following one sentence bill layered on top-
Health insurance premiums for individuals and employers may not go up per year by more than the cpi for all goods. If they do the health insurance company will owe a substantial fine. (fining the insurance companies for not doing their job, not individuals for not having insurance!)