While $510 in higher taxes for every worker every month initially sounds shocking, if that means no more insurance premiums, co-pays, or deductibles, the tax payer just might end up with more money in his pocket.
Ten years ago my husband and I were paying $750 a month, in premiums alone, for ourselves and one child.
“While $510 in higher taxes for every worker every month initially sounds shocking, if that means no more insurance premiums, co-pays, or deductibles, the tax payer just might end up with more money in his pocket.”
Not likely.
:)
It will also mean less health care available because people will demand more of it, since they figure they are ‘entitled’ to it... meanwhile the supply will go down.
Around $300,000 in the average workers lifetime. That is if it doesn’t increase in the future.
If you put that same $510 a month toward a medical savings plan paying 6% interest, you would have $1,564,054 after 47 years if it went unused.
Plus, although I could be wrong, but these costs are calculated upon covering those that are not covered right now. Not on every single resident of the state (although we would all be eligible.), what will the company that right now provides insurance for there employees now? Are they
A) keep all their benefits the same, even though they will now be paying an additional tax?
B) drop the benefits, tell their employees to get the wonderful state insurance, and give all their employees a raise to cover the tax?
Or
C) drop current benefits, tell their employees that they are still paying the same amount only to the state, and tell the employees that they absolutely, positively cannot afford to do business in this state, and close down, and tell their employees too bad, so sad, you are on your own.
If you picked C , congratulations you are the winner (or in my case the loser!!!)
It is not $510 in taxes for every worker; That is the AVERAGE. The amount paid will go up as income goes up, and will bear no relationship to the cost of providing insurance to the person paying the tax - nor will the tax paid by the employer.
Sounds like socialism to me; If that’s the kind of health care plan you want, then FR is probably not the place for you. Try DU.