McKinsey & Company, the consulting firm, recently released an important report dissecting the reasons America spends so much more on health care than other wealthy nations. One major factor is that we spend $98 billion a year in excess administrative costs, with more than half of the total accounted for by marketing and underwriting — costs that don’t exist in single-payer systems.So why the right wing panic attack on SCHIP? That's easy, the right sees the writing on the wall - a majority of Americans and an increasing number of major corporation can see the current system is broken and that changes are on the way. We find out today that the swift boating of the Frost family originated in the office of Senate Minority Leader Mitch McConnell (R-KY). The charges against the Frosts turned out to be inaccurate and in fact simple served to point out how broken the health care system is. It also made it clear for all to see that those involved are nothing but vicious thugs with no credibility.
~Paul Krugman, February 16, 2007
The insurance companies contribute nothing to health care yet manage to syphon off 20% of the health care dollars. Change is coming and the insurance companies and their servants will attempt to influence that change so the cash cow won't disappear all together. In that spirit John McCain introduced his health care plan today.
McCain health plan includes $2,500 tax credit
Republican presidential candidate John McCain outlined a proposal on Thursday to revamp the U.S. health care system by providing Americans with a refundable $2,500 tax credit as an incentive to buy insurance.So, no real change. The insurance companies would still be able to skim 20% off the top but the Federal Government would take some of the hit through reduced revenue.
McCain's plan offers voluntary solutions to fixing health care in the country, where the high cost of care has meant millions of Americans are unable to pay for health insurance.
McCain warned the U.S. health care system is facing a "perfect storm" of problems that if not addressed by the next president will cause the system to implode.
McCain, who is running behind key rivals in the race to be the Republican presidential nominee in the November 2008 election, said he would provide individuals with a $2,500 tax credit, $5,000 for families, as an incentive to buy health insurance.
Expect to see more plans like this as the right attempts to salvage something for the insurance company leaches.