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A Tale of Two Medical Insurance Plans: Who's Version of Health Care Will Win Out in November?
September 2008
MSN Health's in-depth examination of the medical insurance promises that presidential nominees are making to win our votes in November is both interesting, and informative.
Unfortunately, it also paints a rather depressing picture for the future of health care.
McCain's focus on market-driven solutions and strong individualism claims that by taxing the health care benefits received by working Americans, eliminating the current tax exclusion for employer-paid medical insurance premiums, and providing tax credits for individuals and families who buy their own insurance, the insurance industry will be forced to shift its policies towards the benefits of the consumer.
But, does he really think that Americans aren't already "careful with their health dollars" or "seeking out lower-cost, less-comprehensive plans" for their health insurance? This is, after all, why medical tourism is a growing market, along with the problems faced by the under-insured.
Obama's plan is quite the opposite, proposing instead to build upon an existing employer-based medical insurance system that would force them to either pay for insurance, or pay a tax to help fund public health care. He also wants to regulate medical insurance companies so they can't continue raising rates and denying insurance at their whim, and wants to subsidize coverage for those who can't afford it.
But can we really afford the billions and billions of dollars that this would cost, particularly when many health care analysts insist that the tax cuts he plans to repeal for the wealthy won't cover it all?
And of course, neither candidate has addressed what will happen in 9 or 10 years, when the cost of health care and health insurance continues to rise so much faster than the rate of inflation.
For either candidate, facing the realities of health care is going to be more difficult than they are admitting. Creating a new system that still guarantees quality care, but is available and affordable for all Americans, and won't drain our already suffering economy is going to take a lot of work and probably a long while to complete.
But as the article makes clear, something needs to happen, because the system we have now just isn't suitable for us anymore.
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