Not to worry though because the McCain plan will eliminate tax incentives for employers and then provide employees with a whopping $2500 tax credit for individuals and wow, $5000 for a family. What this means is that employers will quickly unload health care plans for workers and then throw families into chaos as they scan the Wild West of health care offerings. That should be a simple process because the health care industry is already known for being clear about what they offer everyone.
Just imagine the excitement across America as families look at health care plans of $12,000 or more and balance that out with a $5,000 tax credit at the end of the year. That is the kind of innovation that McCain delivers that will have America worked into a frenzy. Maybe not the kind of frenzy that he expects though. Only an elitist who owns twelve homes could possibly think this plan is a positive change.
Get ready for another hike in copays and deductibles.
A survey being released Thursday by the Mercer consulting firm found 59 percent of companies intend to keep down rising health care costs in 2009 by raising workers’ deductibles, copays or out-of-pocket spending limits.
On average, health care costs will go up by an estimated 5.7 percent next year for both workers and their employers, the study found. That repeats this year’s 5.7 percent hike and a 6.1 percent jump in 2007.
