I, personally, like the idea. I hate the fact that if for some reason I or my husband lose our jobs we automatically lose our insurance. That's scary. I would rather have more control over my insurance and benefits.

Sy, as a person who is shortly set to lose their benefits, I agree. The whole idea is a little confusing to me, so I guess I'd have to hear more examples.

not confusing like I just don't get it, but that I'm looking for the catch somewhere.

(I'm a person set to lose benefits in t-minus three weeks also, Kris)

I don't think there's a catch. I think McCain's plan is trying to put health care in the hands of individuals. Right now it's so intertwined with our employers, insurance, ppo, etc. etc. that it's confusing and hard to decipher.

But if you owned the plan, you picked it out and chose it, you pay for it and are responsible for it, then you'll be more in control of your health care.

from the horse's mouth (aka his web site):

John McCain Believes The Key To Health Care Reform Is To Restore Control To The Patients Themselves. We want a system of health care in which everyone can afford and acquire the treatment and preventative care they need. Health care should be available to all and not limited by where you work or how much you make. Families should be in charge of their health care dollars and have more control over care.

...and people tell me I'm a controlling person. so that might work!

Sy I totally agree. Gone are the days of yore when someone would get a job and work for the same company their whole life. Today so many people switch jobs every few years, why not have their own health insurance? Thats one less thing to worry about. That way employers too can conentrate on better ways to attract good candidates like more flex hours, better vacation time, or even GASP... higher pay!

I wonder if that means we would be able to purchase coverage for alternative medicines that are not usually covered, like accupuncture. my friend's insurance pays for it, but mine doesn't. that shiz is expensive! but I have always wanted to try it.

gasp higher pay. that's blasphemy cab!

"Under McCain's incentive plan, some individuals would be able to make a profit from the system — they could buy a plan for less than the credit, keeping the difference."

Actually, I believe that if the difference HAS to go into a special fund for medical expenses.

Maybe they could take the difference and put it into a sort of rainy day fund so that if they are ever out of work for a few months they will still be able to pay for their healthcare.

Probably a dumb question (didn't see the answer on the McCain Health Care tab):

Is this a one-time deal or will those participating in this receive yearly direct refundable tax credits?

On one hand, this idea appeals to me. I shop around. It takes me months to pick out a toaster oven, so it seems weird that my employer got to pick my health care plan. It seems like I'm always getting dinged with fees, too. I pay my copay at the office and then get one or two bills in the mail in the subsequent weeks for lab tests and what have you.

On the other hand, I would worry that many people would not be able to afford insurance, even with the tax credit, if it wasn't provided by their employer.

torg - on your last point, i think the idea is to make health insurance companies compete for your business, thereby lowering their rates to attract customers.

the only thing that worries me about this plan is quality of care, but i'm sure there must be some kind of best practices put into place to make sure the quality of care is fairly equal.

how would this work for really big families? or families with a member who has a long-term disability or otherwise requires a significant amount of care? would the proposed tax credits cover their costs, or would they be given increased tax credit?

" the idea is to make health insurance companies compete for your business, thereby lowering their rates to attract customers."

But if the health insurance companies lower their prices, the docs are just going to jack theirs up.

And, you don't have to take the company health benefits. You can get individual insurance yourself, if you so choose. You may pay a lot more, but you'd have your "control". My employer actually pays me back for opting out of their plan (I'm covered under my husband's employer).

I also think you should be grateful that employers can help you out. I have a medical condition that makes health costs very high. If the employer didn't cover it, that $5000 credit wouldn't even come CLOSE to covering my expenses.

Kris, those are all good questions (still sending you those good vibes too and I'm hoping that they're working for ya )...it sounds intriguing but I'd want to learn more about it. I'd also worry about quality of care based on price, cab, so it will be interesting to see how this pans out if he is elected.

I am for this. When I switched jobs a few years ago, I had to switch insurance companies and the new one didn't include my son's pediatrician, so I had to switch to another one. I would love to just be able to pick the insurance I wanted and keep it no matter what!

There was something a while ago that I heard about that was a law that would restrict how much money someone could get for "emotional damages" when bringing malpractice lawsuits against doctors... I don't know if it ever passed.

I hope so! You want to know why health insurance costs so much? Maybe ask some personal injury lawyers...

Oh, that's a good point, Lynne. I hadn't thought about difference in premium price/costs for someone with a chronic condition...

Thanks for the good vibes Em! awesome!

Re the statement from McCain's site: "Families should be in charge of their health care dollars and have more control over care."

In my (admittedly, limited) experience "control" is code for "this will cost you more money." I never minded not having "control" in my HMO-style plan. I know it's different when you have more complicated health situations but for me - young, no chronic problems, only saw specialists for weird conditions every now and then - it worked just fine. And I knew what it was going to cost me, which I did not know when I had "control" with my employer's high-deductible plan.

This plan sounds like it has promise, however its hard enough getting Americans to switch their perception of health care providers. Good luck getting them to agree to provide for themselves. This will be like trying to shift gears on car with no grease in the gear box. It will all come down to trust that's all there is to it. Will Americans trust that if they buy into the system they will save money and receive good health care? Unfortunately for Sen. McCain and Sen. Obama their respective plans although new to us will have to carry the burden of distrust that Health Maintenance Organizations have long established as part of our perception.

I fully support this plan. If they pass a law restricting lawsuits against doctors, which is one of their biggest burdens is carrying their malpractice insurance (one of the major reasons why we are losing so many OB's), then I do not think you will have to worry about doctors jacking up their prices as Lynne suggested.

I've not seen a good health plan that is less than $2,500/yr for an individual, or $5,000 for a family. I don't think this would cause employers to opt out of offering benefits. It might encourage to pay more of the employees portion though.
I like this because it helps out the small businesses who can't afford to offer a good quality health care benefit.

As someone who will never qualify for health insurance on my own, I'd be completely screwed if I couldn't get it through a group plan at work.

I think some people are missing that many employers will still provide benefits. I think this will be especially helpful for people who are self-employed, small business owners, or who work for small businesses.

As far as choice goes, I think it's great. I would much rather have choice and pay a little bit more than be forced to go to specific doctors and have to change my doctors and possibly prescriptions when I change jobs. As Lynne pointed out, you do technically have a choice now, but some people can't afford the full cost of health care on their own and not all employers provide a credit to those who opt out of health care. So, you technically have the choice, but it's not really a choice for many people (if that makes sense).

Also, Lynne, the $5,000 wouldn't be to pay for health care, its purpose would be to pay for health insurance.

I would def. be for this. Speaking from someone who comes from a small family business, health insurance plans can be very hard on businesses. We have switched carriers about 3 times in the last 2 years because you constantly have to shop around for the best deals. Then you have the constantly raising premiums...with an upset economy like ours, it really hurts the business.

Under McCain's plan, if you get insurance through your employer, you will be taxed on that as "income".

I think this plan would be very bad for older employed people whose plans are expensive, but beneficial for those that are young (aka under 30 with no health issues).

Kudos to McCain for innovating! I get penalized b/c my co-workers are constantly sick.

Jill, do you have a link with that information? I have read McCain's plan several times and have never viewed it that way. (As far as getting taxed on employer-provided insurance.)

I read it on an AP story on Yahoo yesterday. I am trying to find the article now...

The Republican presidential nominee-in-waiting has proposed that everyone buying health insurance get a refundable tax credit, $2,500 for individuals and $5,000 for families. At the same time, he would treat employer contributions toward health insurance like income, meaning workers would have to pay income, but not payroll, taxes on it.

http://www.nola.com/newsflash/index.ssf?/base/politics-16/12153620487582...

In regards to small businesses and Obama's plan...(from the Q&A portion of his site)

Obama’s plan will help small employers that are unable to offer health coverage to their employees right now. The main reason small employers do not offer health coverage to their employees is because it is simply too expensive. The Obama plan allows small employers to enter the National Health Insurance Exchange to purchase either a new public plan or a private plan for their employees, who will be eligible for subsidies if they need them. Very small businesses and start-ups will be exempted from the obligation to pay into the system or provide meaningful coverage for their employees.

The reinsurance proposal will also reduce the volatility of premiums for small businesses. For small businesses, having a single employee with catastrophic expenditures can make insurance unaffordable for all of the workers in the firm. The Obama plan would reimburse employer health plans for a portion of the catastrophic costs they incur above a threshold if they guarantee such savings are used to reduce the cost of workers’ premiums. Offsetting some of the catastrophic costs will make health care more affordable for employers, workers, and their families.

Overall, I really like how the Obama plan addresses the many, many reasons for rising health care and insurance costs.

I get that it's a credit towards paying for my own insurance, but the costs of all medical supplies/equipment + insurance = not enough of my own money to be able to afford it. My point was just that getting back $5000 won't cover what I will be putting out for the year.

i think that it's an interesting concept but i'm not sure how fast it will catch on. it would mean that more people would have to take a more active role in their health care. for myself - the first time i got health insurance through work, i didn't know what questions to ask about coverage and networks and doctors and deductibles - so it was great that there was a 'ring leader' through HR that was able to help me. if i had to go back and do it all on my own, i don't know how well i would fare. i think that now i know more, so it's ok, but 10 years ago, whoa - it wouldn't have been good for me.

i also kind of like to just have the $$ taken from my paycheck so it's not another bill that i have to pay every month.

Something has to happen to our system, that's for sure. I just don't trust McCain to do it. He's too tied into the idea of people "going it alone" which means that we all end up paying for the poor to get treatment. It's so ridiculous that we're one of the G-8 and we have no national health care system.

Being more "responsible" and "in-control" of our healthcare is all well and good. But being in control of our healthcare dollars isn't always as good. Even with a High-Deductible HSA plan many people skimp on basic care due to the out-of-pocket costs. This would also be the same. Cheaper insurance with fewer benefits to get by. I personally appreciate that my company will also contribute to my insurance, I'd say they contribute about as much or more than the proposed tax-credit. I'm fine with that, HR handles the paperwork, I just keep up with the premiums and go to the doctor.

I'm sorry as great as being in "control" of our healthcare is this plan scares me big time. There is no way I'd ever be able to get me or my husband private insurance because of pre-existing conditions, I have endometriosis and he has lupus. It would either bury us in costs if someone accepted us or we wouldn't ever be accepted. How is that right?