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An article appearing on msn.com today discusses a proposal to remove the tax-exempt status from employer-provided health care benefits. In other words, there is talk that the government may decide to treat the portion of your health care coverage that your employer pays for and your family as TAXABLE INCOME. You can read the entire article here:
Will health insurance ?haves? pay for ?have-nots?? - White House- msnbc.com
There is a table included in the article that shows how much in tax liability each tax filer currently avoids per year as the way the current law is written. If this exemption is removed, then it is possible that a family with an adjusted gross income of just $30,000 would pay an additional $2,457 in taxes to subsidize the proposed health care reforms.
FACT FILE Tax benefit of employer-sponsored health insurance
Adjusted gross income Average savings per tax return
< $10,000 $635
$10,000–$29,999 $1,952
$30,000–$49,999 $2,457
$50,000–$74,999 $3,095
$75,000–$99,999 $3,900
$100,000–$199,999 $4,481
$200,000–$499,999 $4,728
>$500,000 $4,467
SOURCE: Joint Committee on Taxation
If you view the video embedded in the article you will also see that this is a plan that McCain proposed during the campaign and which Obama strongly criticized. Now it appears that he is considering the same approach.
Keep in mind that msn.com has been quite favorable in its reporting on the Obama administration. If this were from Fox News I could see some being skeptical.
So, bottom line...what do you think? Are you willing to pay potentially thousands more to create "health reform?"
I've worked in the health care industry for nearly 20 years. I was working as a marketing and finance analyst for a multihospital health system in Phoenix back when the Clinton administration tried to reform health care. In our own studies we found other ways to reduce health care costs and improve access. Tort reform and healthcare liability reform is one way. Better managing where technology is placed is another way. (Does there need to be an freestanding CT scan or MRI clinic on every street corner?)
I'm curious to hear what folks think. I know for some the health care issue was an important factor in deciding who to elect as President. Now that actual dollar signs are being affixed to these plans, what are you willing to pay?
Will health insurance ?haves? pay for ?have-nots?? - White House- msnbc.com
There is a table included in the article that shows how much in tax liability each tax filer currently avoids per year as the way the current law is written. If this exemption is removed, then it is possible that a family with an adjusted gross income of just $30,000 would pay an additional $2,457 in taxes to subsidize the proposed health care reforms.
FACT FILE Tax benefit of employer-sponsored health insurance
Adjusted gross income Average savings per tax return
< $10,000 $635
$10,000–$29,999 $1,952
$30,000–$49,999 $2,457
$50,000–$74,999 $3,095
$75,000–$99,999 $3,900
$100,000–$199,999 $4,481
$200,000–$499,999 $4,728
>$500,000 $4,467
SOURCE: Joint Committee on Taxation
If you view the video embedded in the article you will also see that this is a plan that McCain proposed during the campaign and which Obama strongly criticized. Now it appears that he is considering the same approach.
Keep in mind that msn.com has been quite favorable in its reporting on the Obama administration. If this were from Fox News I could see some being skeptical.
So, bottom line...what do you think? Are you willing to pay potentially thousands more to create "health reform?"
I've worked in the health care industry for nearly 20 years. I was working as a marketing and finance analyst for a multihospital health system in Phoenix back when the Clinton administration tried to reform health care. In our own studies we found other ways to reduce health care costs and improve access. Tort reform and healthcare liability reform is one way. Better managing where technology is placed is another way. (Does there need to be an freestanding CT scan or MRI clinic on every street corner?)
I'm curious to hear what folks think. I know for some the health care issue was an important factor in deciding who to elect as President. Now that actual dollar signs are being affixed to these plans, what are you willing to pay?
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