Links for the Republican Health Plan
We inadvertently dropped them in our posting last week. So here is a link to Sen. Coburn's web site, which includes a summary of the bill and other useful links.
Health Care Policy and Reform Insights | NCPA
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Recognition and Awards
Thanks. Coburn has an interesting site.
Dr. Goodman said, “Health Savings Accounts. Although the bill allows any excess tax credit (not used for insurance premiums) to be deposited in a tax advantaged Health Savings Account (HSA), this will happen very rarely. The reason: for most people, the tax credit will barely cover the cost of catastrophic insurance — leaving nothing extra for HSAs or anything else. As a result, the tax advantaged HSA will wither on the vine.”
A 35-year-old couple and 2 children can get HSA insurance for $198 a month in Lansing, MI. Annually that’s $2,376 so a $5,700 tax credit would deposit $3,324 in the family’s tax free HSA. In other words, more goes to the HSA than to the insurance. If the family had one child the HSA deposit would be larger. If the family had no wife the HSA deposit would be larger yet. A single person with 2 children still has a $5,700 tax credit.
This HSA coverage pays 100% of hospital, doctor and Rx expenses after the deductible. There is also HSA coverage that doesn’t cover Rx so the HSA deposit would be larger again because the insurance premium would be smaller.
Even a 60-year-old couple in Lansing can get HSA insurance for $3993 per year. This 60-year-old couple would have $1,707 in their tax free HSA annually.
Dr. Goodman over-pricing HSA insurance goes back to the 2000 campaign when he said insurance costs a family $4,000 a year. After 9 years a 60-year-old couple can still get HSA insurance for less than Dr. Goodman’s cost in 2000.
Also, people can already purchase health insurance across state lines. I do it everyday. It’s so easy a caveman could do it. I enrolled America’s 1st HSA so you can trust me.
in the section-by-section summary at Coburn’s website on page 3 it states, “The monthly contribution limit to Health Savings Accounts is increased to $3,000 for individuals and $5,950 for families.”
Individuals could put $36,000 a year in their tax free HSA? That’s quite a tax dodge.
If the summary meant annually this is the 2008 contribution limits already. Also, HSAs already have preventative services covered.
If the government is as bad at delivery health care as Coburn’s staff is at summaries, we are all in trouble.
If you are in Singapore you might want to look into first getting a MediShield PlanIts very aadlrffboe, and uses your Medisave to pay for it.Else getting a private insurance, you want to look into your hospital coverage especially the option to stay in a private hospital vs a govt hospital.Talk to an adviser, in Singapore, you can find one here