Did you know that if McCain is elected you will have to pay income tax on the value of the medical insurance that your employer gives you? Worse still, he is offering a tax break for people who pay their own insurance, BUT only $2,500 for individuals and $5,000 for families.
Let's say you have a family of four. Your insurance policy costs would be at least $1,500-2,500 per month under a self-pay plan, which cost more than employer group plans. So, you pay $18,000 -$30,000 per year for insurance, and you get to deduct only $5,000 of that. If you paid $25,000 for you insurance, you would be out of pocket $20,000 per year. This is FAR WORSE than the current system, where if you are self employed you can deduct 100% of you medical insurance costs.
So, if you're not self employed, you would stick with your Employer's plan. Employer plans for a family of four have a value of $900-$1,500 per month totaling 10,800-$18,000 per year. Surprise! On April 15th, you owe tax on all of that as INCOME to you. Say your bracket is 25%, and the value of your Employer medical plan is $14,000. You will OWE THE IRS an additional $3,500, and that's ON TOP of whatever monthly premium you already pay to your employer for your insurance.
Many analysts say that McCain's new rules would encourage employers to stop offering health benefits. If that happened, then far fewer Americans would be insured than are insured today, because what family of four can afford $18,000-$30,000 out of pocket per year for self-pay health insurance?
Furthermore, McCain's plan does not require insurance companies to cover pre-existing conditions of people who self-pay their insurance. People under employer group plans have all of their pre-existing conditions covered. This is a hugely unfair aspect of the current system. Insurance companies can afford to cover the pre-existing conditions of the much larger pool of people with group insurance, but they refuse to pay the pre-existing conditions on the smaller pool of self-pay customers. They have been allowed to price gouge the self-pay customers, which is a form of market manipulation that should be illegal.
So let's say one of your kids had diabetes and you have high blood pressure, then your employer stops offering insurance. You now have to buy your own, but you and your child are INELIGIBLE due to pre-existing conditions. Oh, yeah, they will let you buy the insurance, but you can't use it for any pre-existing condition until you have paid on time every month for two years. And you know what happens at one year and 11 months? You get a letter saying your policy has been cancelled. I have many patients this has happened to.
McCain's plan SUCKS.
It does nothing to help middle class working Americans afford or obtain medical insurance. In fact, it makes the current system WORSE.
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Death by Prescription
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The reality is that parents are simply not informed about prescription drug abuse. The statistics are unbelievable. A recent survey by Abbott and the Partnership for a Drug-Free America shows that one in five teens abuses prescription drugs—that's 20 percent of our teenagers. Every day, 2,500 teens try prescription drugs for the very first time. Everyone knows the benefits of their medications when used as prescribed; few of us understand the dangers when these same medications are abused.
To bring some kind of sense to our tragedy, I tell parents to get informed, to look for the warning signs. And even if you don't see or suspect anything, talk to your teens and secure your medications. This is about "us," the average Americans, not about "them." It is not "their" kids, it is "our" kids, good kids who may understand about "bad" drugs but have no clue of the dangers when it comes to prescription medications that they often see in their parents' own medicine cabinets. Even my 21-year-old daughter has committed herself to the cause and frequently speaks to young people about prescription drug abuse.
In my work with Abbott and the partnership, we've developed a website called www.notinmyhouse.com that teaches parents how to talk to their teens about prescription drug abuse. Just as important, it gives parents easy steps that can help save their children: monitor, secure and dispose. Know what prescriptions you have in your house—know how many pills are in each bottle. For those medications that may be abused, such as stimulants, depressants and pain pills, lock them up. Don't leave them easily accessible. And when you are finished with your medicine—get rid of it. Don't let your pills end up in the wrong hands, the schoolyard or your community. Parents need to take the blinders off, stop thinking that this is a problem that affects other kids, and take action immediately.
My son Harrison and I shared a very special bond. We were companions and best friends. I never could have imagined that prescription drug abuse would become a focal point in my life. My participation in Not in My House is a tribute to my son. I believe in honoring the dead by living—living a life of service, and with love and compassion. I know Harrison would be proud of the work my family and I are doing on speaking out on this important issue. Harrison believed in service to community, and this is something he would have done. By speaking of his life, his battle with drugs, his death, I am closer to him.
© 2008
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