Analyzing the Divergence, Pt.1 – Focus on
the big picture, but don’t ignore the fine print.
Previous…
Informed analysts nicely point out that typical candidatel
health insurance/care reform proposals are meant to provide a
general sketch of the anticipated outcome. There are far too
many external variables and forces to be able to provide a
step-by-step procedure guaranteed to fix all the problems with
anything so complex as our mired health insurance system or,
even getting a bill through Congress. So these proposals
should be used as a basic guideline for what to expect, should
the health insurance/care reform plan ever be submitted to the
Congressional grinder. We can get a basic idea of the
directions of certain areas. It’s wise to note, however, when
major and crucial details are missing or deeply flawed.
One such issue has arisen with Mr. McCain’s plan of
supplementary tax credits. The math has been exercised by the
experts and some important concerns have surfaced, due to the
findings. By replacing the tax breaks employees currently enjoy
from the cost of their employer-based health insurance plans,
with a dynamic figure that happens to be roughly equivalent to
today. The problem (or oversight) stems from the fact that Mr.
McCain’s tax credit figures are only intended to grow over time
by the rate of inflation. The current ‘equivalent tax break
Americans have always enjoyed grow by the rate that health
insurance premiums increase.
That figure is many times higher than that of inflation. So
if health insurance premiums continue to increase at the rate
they have for the last eight years, Mr. McCain’s inflation
adjustment will begin falling short right away and continue
falling away over time.
Continued…
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