Three Of A Kind
A pair of Democrats and a Republican - not your conventional three of a kind - but that's the hand currently being dealt to voters in this year's race for President. Obama, Clinton and McCain - all promising healthcare reform, but each with their own stance on health insurance.
McCain's Stake and Chips
Senator John McCain is staking his campaign on individual health insurance. His focus is to encourage Americans to seek their own health insurance which he believes will offer voters more choice and move away from employer-based group insurance. McCain's proposal:
- Emphasizes choice in health insurance plans
- Offers tax credits to help individuals pay for coverage
- Makes individuals less reliant on employers and government
- Would cover 20 million of the country's 47 million uninsured
- Aims to stabilize the cost of health insurance
- Would cost $7 billion per year
Some observers suggest McCain's plans would falter over time. In recognizing a far-from-perfect insurance market, McCain acknowledges some flexibility will need to evolve. The question for voters becomes whether he has invested enough chips into healthcare reform - generally regarded as one of the top issues concerning the 2008 electorate.
Obama and Clinton's Straight Flush
Should either Democratic nominee become President, your health insurance would most likely come from the government with many workers offered the equivalent of Medicare and new coverage mandates imposed on employers. Where they are flush with one another, Clinton and Obama's proposals:
- Emphasize more affordable coverage to more people
- Use premiums from those who don't file claims to pay those who do
- Put the insurance industry on a tighter regulatory leash
- Create large pools offering group rates for much less than individual rates
- Would cover 33 million of the country's 47 million uninsured and cost $65 billion per year (Obama)
- Would cover virtually all of the country's 47 million uninsured and cost $110 billion per year (Clinton)
Critics counter that the Democrats' plans would be a regression towards socialized medicine. However, unlike McCain they would not make any substantial changes to healthcare tax benefits. Their focus would be on creating a more cohesive insurance system with a better synergy between government, employers and individuals.
Play your cards right
This election year you will have nothing if not choice - all you have to do is decide which candidate is the best bet.
More details: Los Angeles Times (May 5, 2008)