Saturday, November 7, 2009

From the Wall Street Journal, Nancy Care

On Nov. 2, the Congressional Budget Office estimated what the plans will likely cost. An individual earning $44,000 before taxes who purchases his own insurance will have to pay a $5,300 premium and an estimated $2,000 in out-of-pocket expenses, for a total of $7,300 a year, which is 17% of his pre-tax income. A family earning $102,100 a year before taxes will have to pay a $15,000 premium plus an estimated $5,300 out-of-pocket, for a $20,300 total, or 20% of its pre-tax income. Individuals and families earning less than these amounts will be eligible for subsidies paid directly to their insurer.

• Sec. 202 (p. 91-92) of the bill requires you to enroll in a "qualified plan." If you get your insurance at work, your employer will have a "grace period" to switch you to a "qualified plan," meaning a plan designed by the Secretary of Health and Human Services. If you buy your own insurance, there's no grace period. You'll have to enroll in a qualified plan as soon as any term in your contract changes, such as the co-pay, deductible or benefit.

• Sec. 59b (pp. 297-299) says that when you file your taxes, you must include proof that you are in a qualified plan. If not, you will be fined thousands of dollars. Illegal immigrants are exempt from this requirement.

• Sec. 412 (p. 272) says that employers must provide a "qualified plan" for their employees and pay 72.5% of the cost, and a smaller share of family coverage, or incur an 8% payroll tax. Small businesses, with payrolls from $500,000 to $750,000, are fined less.

The first paragraph basically states that you will pay 17% to 20% of your total income for medical care. Rest assured that it will be reflected in your wages, and not in a good way.

The second says even if you have insurance that you are satisfied with, as soon as it changes, you will have to switch to the government option. Considering that they change at least yearly, you will be in a Govt. program.

The third says that you have to prove you are in compliance, or be fined, or go to jail, unless you are in the country illegally, then just continue to use the Emergency room for every sniffle.

The fourth says you must pay for your employees insurance, which sounds good, but a “Mom and Pop” business will likely close their doors because they can’t afford to dish out. If you think not, it happens every time the minimum wage goes up. I might be wrong, but having a job and no insurance is better than having insurance and no job to buy groceries and all the necessities of living.

Over all, this “plan” to provide health care is the biggest tax increase in the history of this country. It is a tax increase because I will be forced to pay for something that I don’t want, and subsidize people who want it but don’t want to work for it. The Feds will be entwined in every aspect of the insurance industry.
I predict that the insurers will either collapse due to interference, or be buried under a pile of money, later to blamed for “fraud”.

It is certain that the taxpayer will bear the burden, and be denied the benefit of making decisions in their own life.

If this passes we're screwed. I can't pay an additional 17% in taxes, and live any kind of life.

This is the perfect example of how out of touch the congress is with real people, they don't relate the dollar amount specified with a real wage. They mustn't consider the 15K a year to be burdensome.

I wish I could say the same.

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