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Insurance Proposals in the News
If 2007 is not the year for health insurance reform, it will certainly be the year we will talk about it. I offered my my comments on the subject and seemed to hit a nerve among several right wing readers. But here will offer you a look at the plans in brief.
President Bush first offered his plan during his 2007 State of the Union Address.
In it he offered the following idea:
A tax break for all Americans
Will it work?
Depends on the open market for fair pricing
Why it wonıt work?
Actually may cut benefits for some workers and doesnıt include the entire 47 million uninsured (less than three million might be covered.
How much will it cost?
The Bush plan claims that it is revenue neutral meaning it will have offsetting costs.
State plans
Massachusetts, California and Pennsylvania offered the following idea:
Requires employers to ante up with coverage or face tax penalties
Will it work?
So far, it is the best plan encompassing all ideas from both parties
Why it wonıt work?
It comes with a high price (over $60 billion over five years).
How much will it cost?
It comes with a high price (over $60 billion over five years).
Senator Ron Wyden has a highly workable plan.In it he offered the following idea:
Cuts the ties between employers and insurance by taking an open market approach
Will it work?
Because the aim is to cover all Americans, insurance plans would be priced more competitively
Why it wonıt work?
All coverage is not good coverage. If some people want additional coverage, they would be forced to pay the additional costs.
How much will it cost?
A graduated scale of taxes on businesses while giving breaks to hospitals that care for the uninsured.
John Edwards announced his intention to run for president and a health planIn it he offered the following idea:
Requires the following: insurers to provide insurance and everyone is to have it. Individuals would get tax breaks and be allowed to draw from group plans of other like individuals. Companies would be required to cover their employees or be taxed
Will it work?
Because the aim is to cover all Americans and it combines numerous ideas, the number of insured Americans would rise.
Why it wonıt work?
The tax on businesses, as much as 6% would be painful
How much will it cost?
Key is rolling back a Bush tax cut for those earning more than $200,000 in addition to the business tax.
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