redblueamerica.com

Not exactly.

The McCain plan does not change the current tax. Which is what you are seeing with your daughter.

It does give a tax credit to offset that tax. However, that tax credit may benefit some more than others. It depends on your income tax bracket and the size of your family and the type of insurance you currently have. Some people can not qualify for HSA. So for those people they just get to only offset up to $5000 the cost of health insurance mainly through deductibles and premiums. In my case, I do not qualify for HSA. I have a either a $250 deductible or a zero deductible coverage. Thus under the HSA guide, I do not qualify. But I do get to deduct the Cost of my insurance premium for my family up to $5000. It will not cover it all but it will get close.

But there is no real new tax on income but there may be a change in how that tax is configured. That happens anyway about every 2 years because of the offset of rise in coverage clause. This is what Obama calls a Tax. Its not really a tax but an inflation calculation which effects the tax. Which always increases the tax paid. This would be the same issue no matter the candidate. Obama's plan honestly cost more.

Under the Obama plan, you are required to have the universal plan unless you are a Federal employee who has better coverage than his universal plan.

Thus you will not see Obama or anyone on Capital Hill be required to get the universal plan. It will effectively kill the insurance industry for private health insurance and it will look like a massive Medicaid program with all the same kind of red tape.

Not only that, under the Obama plan, you will have to pay for that plan no matter what that plan costs because there will be no competition.

My understanding of McCain's Health insurance plan, is to expand the HSAs to a greater set of people.

The reform is that McCain will give a Tax credit to offset the current tax against ajusted income.

Basically, in your case, you would get up to a $5000 credit to offset the cost of your daughter being on your health plan.

The only bad draw back of this plan is that it not enough for larger families. Thus zero to two children families will benefit greatly under this plan. Larger families will not benefit.

Singles gets a $2500 deductible which benefits only those under 35 because the general cost of of insurance to self employed or non employer covered singles is greater than the credit.

However, there is the portability issue which McCain gives which allows you to shop around so that preexisting conditions can not be used against you and you can pretty much look for better coverage.

From my take on the plan is that it helps people in general by offsetting the cost of passed on to them by their employers or offset the cost of having personal insurance if their employer does not have insurance benefits.

Overall, it benefits Americans in all income tax brackets. It should have a sliding scale for credits based on family size as it would be very good.

Thus if you have say a family with 3 more children, then you would have a more level playing field with the rest of who have none or up to two children.

It is a way which is painless to employers and will not harm the economy nor effect the Government budget.

If anything, it should lower the number of people on some form of subsidies on either the Government or State government assistence program because it provides for a way for people to actually get cash money to buy insurance with any left over money be granted to be placed into the HSA account. Thus it benefits greatly younger people than the older.

Basically the younger generation will have larger HSA accounts in general.

Thus its a long term solution to helping the future retired.

It is an easy plan to put into place and it does have significant benefits.

The only people it does not benefit is families with more than say 3 children.
For this group, its better than the current status quo but no as good as what the rest of the nation gets who has less than 3 kids.

They BOTH seemed to slip through most subjects.