Daily News Updates - Health Insurance News

Obama and McCain on Health Care, Pt.4 --- The wrap-up.

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So these tax credits are intended to allow [working] people to utilize HSAs [though most employees already have access to them] to save up funds toward medical expenses [or toward premiums, choose one]. So far, it seems, that HAS’s mostly benefit the wealthy as a tax shelter, but they also help ordinary employees to an extent. Mr. McCain’s stance is to diminish government involvement toward the open market arena. He does strongly support controlling medical costs, which is a good thing, supported by both parties. He also proposes making insurance ‘portable’, as Mr. Obama does, but in a very different way. Portable means being able to retain health insurance (take it with you) when changing employment or in other circumstances where, today, it would normally be left behind. He does not rule out the popular employer-based health insurance that most of us prefer, but takes away the major incentive that employers depend on to offer it in the first place. Mr. McCain has also announced that he will deliver ‘affordable’ health insurance to all, including those who, right now, can’t get it for any price. These are the unfortunates with pre-existing conditions and those who require too much ‘maintenance’. He has admitted that some government subsidization will be required and offered, what most believe to be unrealistically low projection. He cautioned that his figures were ‘very preliminary. Much is still sketchy and, somewhat, presumptive. In the coming months toward the election, it will be wise for the voters of this country to closely follow the forthcoming promises proposed by both nominees. There are still missing pieces that may prove to be significant.