Health Coverage Proposals for Presidential Candidates
A vast difference between the two Presidential candidates is the role of the U.S. government providing health insurance coverage.
Senator Obama promotes a national policy that supports individuals and small employers. Obama would rely much more on government mandates in which income based federal funding would be provided to help assure expansion on coverage. In this plan, employers would have to either provide health insurance coverage to its employees or pay into a national plan that would be available to individuals not covered by employee plans. Regardless of which direction would choose, they would also benefit from a new federal health reinsurance program in which the government would take on liability for catastrophic loss in health care claims.
Senator McCain’s “Guaranteed Access Plan” advocates a federally supported plan compromised by the states. The plan limits would be based on the premiums enrollees pay, while financial assistance would be provided to those below certain income levels and also availability would be offered for those who are denied coverage by health insurers due to pre-existing medical conditions.
McCain plans to radically change the health insurance tax system. By balancing the cost of the coverage, individuals including employees, would get new tax breaks. Those buying individual coverage would be eligible for a $2,500 annual tax credit and those purchasing family coverage would be entitled to a $5,000 credit.
Though the two plans advocated by the candidates entail extreme differences, both plans are similar in the lack of detail. The ideas presented leave a lot of questions unanswered and ambiguous meaning.
John McCain
*Reshape the tax code to add self-funded health insurance premiums to employee’ taxable income.
*Advocates for earlier introduction of generic prescription drugs.
*Sponsors tax credit refund of $2,500 for individuals and $5,000 for families to pay for insurance premiums.
*Plans to provide premium health coverage to those who have been denied or for individuals whose incomes fall beneath certain levels.
*Supports the idea of walk-in clinics in retail outlets.
*Supports tort reform protecting doctors from lawsuits for following clinical guidelines and safety procedures.
Barack Obama
*Supports establishing a national plan for those without insurance and premium coverage provided to lower income individuals.
*Advocates that employers that do not offer or make contribution toward health care coverage pay a percentage to the national plan.
*Endorses a national exchange to allow individuals to buy health coverage form insurers.
*Supports federal reimbursement through reinsurance for employer plans facing catastrophic costs.
*Proposing all health plans to extend coverage to employees’ adult children up to age 25.
*Supports authorizing health plans to provide the same coverage for mental disorders as other medical conditions.