Pros and ConsApril 2008
While Democratic hopefuls Hillary Clinton and Barack Obama can be seen debating the ins and outs of their medical insurance plans just about anywhere, Republican nominee John McCain has seen less publicity when it comes to health care. However, as more details become known regarding his version of
health insurance for America, many editorials are finding the pros and cons of his plan well worth the analysis.
In the past 8 years health care costs have doubled, and are projected to do so again by 2017, which explains why 47 million Americans can't afford insurance, and another 50 million are underinsured. McCain's health insurance proposal, unlike those of his Democratic counterparts, doesn't mandate coverage or push for universal coverage. However, it does aim to change those cost drivers that make medical insurance so very expensive.
At the core of his plan is a tax credit for individuals who purchase their own insurance, with $2,500 available to individuals and $5,000 for families. Tax credits are widely considered superior to tax deductions because they will directly reduce the amount of income tax paid by consumers, saving money now instead of later (as is the case with deductions).
McCain also proposes that consumers should be able to purchase health insurance across state lines, and backs the importation of prescription drugs from other countries such as Canada.
All of this should lower medical insurance costs, but detractors argue that it won't lower them enough for the poorest Americans to purchase coverage without help. Other criticisms include the fact that McCain's plan wouldn't force health insurance agencies to cover those with pre-existing conditions. With many consumers moving from group-based employer sponsored insurance to individual
medical insurance, many Americans could be denied coverage.
Facts on:
Health Insurance
Did you know...
In the past 8 years health care costs have doubled, and are projected to do so again by 2017?
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Most notably, Elizabeth Edwards, wife of former democratic contender John Edwards, recently argued at the Association of Healthcare Journalists' annual meeting in Arlington, Virginia that she, who is fighting breast cancer, and McCain, who has been previously diagnosed with skin cancer, would not be eligible for coverage under McCain's own plan.
In response, McCain has argued that the power of a more competitive market would produce greater coverage for all Americans.
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