Friday, September 05, 2008

Health care

BatesLine has a good summary of McCain's Health Care plan, according to Texas Congressman Michael Burgess. McCain's plan builds on the employer-funded insurance that serves 160 million Americans, but removes tax-code discrimination against those who purchase insurance individually. McCain's approach would make employer-funded premiums taxable, but there would be a $5,000 tax credit per family. So if you're employer pays, say $10,000 a year, for your health insurance and you're in the 25% tax bracket, your taxes would go down by $2,500 ($2,500 taxes on the employer-funded premiums, minus the $5,000 credit. If you're in the 10% bracket with the same plan, you'd be ahead by $4,000 under this plan. That net gain could be used to fund a Health Savings Account to cover out of pocket expenses or even to pay for an individually-owned plan.

This makes sense to me. I would really prefer getting rid of employeer provided health care altogether, and let everyone buy their own individual policy, from anywhere in the country, and then they would not need to worry about changing jobs and having to deal with pre-existing conditions. But expecting the government to provide it is absolutely stupid.


Anonymous said...

I meant to put my comment here, McCain's plan for health care, would not be fair....ANON

Anonymous said...

It seems to me that those people who get health plans from their employers would be penalized. This seems unfair again. I can understanding taxing those who make fabulous salaries, but not the middle class or lower class who get benefits.