Health Insurance…. or Else?

QuickQuote Term Life Insurance Blog

Are you ready for government mandated health insurance for all Americans? A new proposal unveiled by presidential hopeful, Senator Hillary Clinton, would require health insurance coverage for all Americans. The proposed plan dubbed the ‘American Health Choices Plan,’ would be similar to the mandated auto insurance programs currently used by many states.

The plan would provide families with tax credits to help pay for health insurance coverage. The tax credits would be designed to limit the health insurance premiums to a percentage of a family’s income. Federal subsidies would be provided for those who are not able to afford insurance, and large businesses would be expected to provide or help pay for their employees’ insurance. The plan would not require small businesses to participate but would provide tax credits to those that do so.

Arguably one of the more challenging aspects of the plan would be Senator Clinton’s requirement for insurance companies to offer coverage to any person that applies for it, while not allowing insurance companies to charge higher premiums to those that incur greater health care costs. This would appear to be a classic recipe for higher insurance premiums for everyone.

An estimated 46 million Americans were without health insurance in 2005, with over 8 million of those uninsured being children.

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