jasonglh
01-20-2007, 19:37
http://www.cbsnews.com/stories/2007/01/20/ap/politics/mainD8MPA1CO2.shtml
(AP) President Bush will propose a tax deduction of $7,500 for individuals and $15,000 for families regardless of whether they buy their own health insurance or receive medical coverage at work.
The proposal, to be announced Tuesday in his State of the Union address, is aimed at giving the uninsured an incentive to purchase a medical plan. It also is designed to encourage those with generous plans to either embrace cheaper insurance or pay taxes on the part that exceeds the deduction, a Bush administration official familiar with the proposals said Saturday.
If passed by Congress, the proposal would be the first time that workers could get a tax break if they bought their own insurance. But it also would be the first time that some employer-provided health care benefits could be taxed. Health care benefits provided by companies are currently exempt from income and payroll taxes.
Sounds like a very bold move but anything other than rhetoric at this point has to be of some help. Being in healthcare insurance and the lack thereof is something that is on my mind often. At the same time if this is followed up by cuts to reimbursement it will put the squeeze on hospitals already treading water.
My own state has been in a Medicaid nightmare so it wouldn't take much funding decreases at the federal level to put us back in trouble.
On a related topic I was curious how well the military is doing taking care of prescription drugs for the retirees.
(AP) President Bush will propose a tax deduction of $7,500 for individuals and $15,000 for families regardless of whether they buy their own health insurance or receive medical coverage at work.
The proposal, to be announced Tuesday in his State of the Union address, is aimed at giving the uninsured an incentive to purchase a medical plan. It also is designed to encourage those with generous plans to either embrace cheaper insurance or pay taxes on the part that exceeds the deduction, a Bush administration official familiar with the proposals said Saturday.
If passed by Congress, the proposal would be the first time that workers could get a tax break if they bought their own insurance. But it also would be the first time that some employer-provided health care benefits could be taxed. Health care benefits provided by companies are currently exempt from income and payroll taxes.
Sounds like a very bold move but anything other than rhetoric at this point has to be of some help. Being in healthcare insurance and the lack thereof is something that is on my mind often. At the same time if this is followed up by cuts to reimbursement it will put the squeeze on hospitals already treading water.
My own state has been in a Medicaid nightmare so it wouldn't take much funding decreases at the federal level to put us back in trouble.
On a related topic I was curious how well the military is doing taking care of prescription drugs for the retirees.