McCain Care

You may have heard somewhere that John McCain’s health care proposal is crap. Andrew S., one of two new additions to Alterdestiny, has more.

The numbers tell the real truth—the amount of the tax credit/rebate is $2,500 per individual and up to $5,000 for families. I received some quotes from various on-line health insurance providers, and the results are telling. I only selected plans that had deductibles less than $2,500, copays less than $50, and coinsurance (the percentage of total medical costs the policy holder is responsible for after the deductible is paid) of less than 15%. This nominal coverage costs around $434 per month ($5,208 per year). The tax credit covers the premium only; remember that every office visit will cost you $35-$45, the insurer won’t cover a dime until you spend the deductible amount, and you will be paying 10 – 15% of total expenses after you shell out $2,500 for the deductible.

But this isn’t even the worst part, really. In order to get the tax rebate, you have to purchase a plan—for low and middle income people, just having that extra $434 per month is insurmountable. Take a family of four making $30,000; after state and federal income tax withholding, the net pay per month is $2,062. The $434 per month to even buy into the tax credit system is 21% of monthly take home pay. How many low and middle income people can afford to spend the 21% to buy in to the system?

But after a decade in Iraq, I’m pretty sure the occupation will wind up paying for itself — which will free up a lot of money for health care. And if that doesn’t work out, the Maverick in Chief will bail us all out with a few more gas tax holidays.