Sep 20
Gold Plated Health Insurance
President Bush’s new health insurance tax breaks will give a big kickback to Americans who pay for their health insurance out of their own pockets: self-employed, unemployed and small business owners. But there’s a caveat: if your health insurance bill is higher than what the federal government deems appropriate then you’ll be giving back a portion of that tax break by paying taxes on the overage.
The problem with this plan? Not everyone has that kind of control over their health insurance bills.
Bush calls high-cost health insurance plans ‘gold-plated,’ but many of those who are forced to pay higher-than-average premiums for their health insurance are far from rich and privileged. Those with high-risk occupations like firefighters, paramedics and policemen, those who are older, those with pre-existing conditions – all of these people will find their health insurance bills to be quite pricey and far from gold-plated.
Which means that under Bush’s new tax guidelines, they’ll have to pay even more for their health insurance in the form of taxes on the amount of their bill that exceeds what is deemed appropriate.
It was nice of Bush to try and tax the richer a little harder than the poor, but the definition of gold-plated should probably be fleshed out a little more before they write it in the tax books in ink.
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September 24th, 2007 at 10:47 pm
Well! By the White House\’s definition of \”gold-plated\” insurance, EVERY POLICY written in the State of Maine will likely qualify! Unfortunately, here in the Pine Tree State we pay the second highest premiums in the country… even when the coverage stinks. Does this administration really think that every place in the union has the same prices for health coverage? It\’s a well-intentioned idea, I suppose, but so poorly-thought-out that it leads me to question what they are thinking in D.C.
Jerry
http://www.leads4insurance.com