Health-Care Plans

In an effort to vote responsibly and without bias, I am trying to do some well-rounded research on candidates. I will post some of my findings in an effort to sort through my own opinions and perhaps provide information for others who also wish to be educated voters.

Regarding health-care . . .
Clinton/Obama:

• Large companies would have the choice of either providing benefits for workers or dropping their coverage. If they chose the latter, they would pay a mandatory payroll tax to support a new government-administered system.
• That system would have two parts: a Medicare-like public program, and a menu of private options . . . [which will] will quickly cause an exodus from employer plans.
• Results:
• Raise in taxes
• Less tailored options for individuals
• Government control over insuring companies - "Would you rather have medical prices set by fiat or by nationwide market competition?" (fiat - decree: a legally binding command or decision entered on the court record)
  

McCain:

• No tax exemption if the employer pays. For example, say you're earning $100,000 a year and your company provides about $9,000 toward your $12,000 family premium, which is about average. Today you're taxed only on the $100,000. Under McCain's plan, you'd also pay on the $9,000.
• But to compensate for the extra levy, McCain would provide a $2,500 federal tax rebate for individuals and $5,000 per family, meaning a family would simply subtract $5,000 from its tax bill, the equivalent of a big cash payment. They appear to do this so that employers and employees get insurance for the same amount.
• So here is what it would look like: An employer that pays $9,000 for your benefits would simply pack an extra $9,000 a year into your paycheck. (Why? Because in a competitive labor market, companies would have to hand over that cash to employees or risk losing them.) So you'd have $6,000 after tax, plus the $5,000 family credit, to buy insurance. That's $11,000 in new cash that employees can set aside for health care.

• The results -
• It would allow consumers to choose an insurance plan that suits their stage of life.
  
• Most Americans would "rush toward high-deductible, low-premium insurance, and use what's left over to pay cash for routine procedures." But not me, because before I rush I would have to look up "deductible" and "premium." And that's just what I did
• DeductibleA portion of the covered expenses (typically $100, $250 or $500) that an insured individual must pay before benefits are paid by the insurance plan.
• PremiumThe money paid to an insurance company for coverage. Premiums are usually paid monthly and may be paid in part or in full by your employer.

• The risks:
• Appears to leave the poor and sick behind (which is addressed by adjusting the tax credit thing) or else means that the healthy will be paying for the sick.
  

Huge Disclaimer: The article I read for most of this information was largely biased. Although, oddly enough it was from CNN and supporting the McCain plan. The original article is here.