The John McCain Effect - The Republican Health Care Plan
2008-09-06 19:19:53 (GMT) (Caymanmama.com - Featured Government News)
Dallas, Texas (CaymanMama.com) — The shining star in this year’s highly charged political campaign seems to be Barack Obama who proposes a resounding “change” promising daring improvements to the weak US health care system, and a firm plan to bring the troops home from overseas. With all of the hustle and bustle of the historic fight for office, some might feel that John McCain’s plans for improving the state of the nation may not be as forward thinking as they should be.
According to a recent brief analysis by the National Center For Policy Analysis, it is highly possible that Senator McCain’s proposed plans could include the most “fundamental health care reform”. Currently, the US government predominantly uses the tax system to persuade private health insurance companies to hand out approximately $200 billion in tax subsidies annually. According to the analysis, Sen. Obama would do little to change the current method of this system while Sen. McCain replace it entirely with a more reasonable and streamlined system that would provide a better chance of both insuring the uninsured and controlling the cost of health services.
The NCPA analysis states, “Under the McCain plan, employers could no longer buy insurance with pretax dollars. Such payments would be taxable to the employee, just like wages…The McCain plan does not raise or lower taxes. Instead, it takes the existing system of tax subsidies and treats everyone alike, regardless of income or job status. All health insurance would be sold on a level playing field under the tax law, regardless of how it is purchased.”
Sen. McCain’s plan would also influence citizens to control them spending while the tax credit would be enough to subsidize the insurance that should already be put in place. However, the plan would not subsidize what it considers ‘extras’ such as marriage counseling, acupuncture and so forth as the current system does. The bottom line is — spend less on health care waste and have more money to spend for any other incidentals.
McCain’s credit would be refundable, advanceable and transferable making a pretty powerful trifecta. Americans could apply $2,500 per person or $5,000 per family to acquire health insurance, even if they do not owe income taxes. This also means that families could skip the waiting process until the April 15 cut off the following year to get their credit as they could get the subsidy at the time the insurance is purchased. Lastly, powerful insurance companies and other intermediaries could assist families with the acquisition of their tax credit and apply it directly to health insurance premiums.
Overall, McCain’s health care plan — once looked at though a magnifying glass — has a much better chance of effectively changing the current health care system than any other plan proposed currently. However, it is us to Americans to closely compare both plans to see which better suits the needs of themselves and their family.
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