Will Scott Walker’s Health Care Plan Offer Relief to Taxpayers?
Not everyone is a fan of President Obama’s Affordable Care Act. Apparently, Wisconsin Governor Scott Walker (R) isn’t too keen on the current health care reform plan either. As a result, Walker has proposed to do away with the reform act, if he’s elected. But while some might not be thrilled on the idea of losing their Obamacare coverage, Walker’s plan may offer some much-need relief for taxpayers.
Walker’s idea is based on a system of tax credits that would individuals who are not provided with health insurance through their employers to purchase individual plans. The number of credits allocated toward a specific person would depend on several factors, including age. Eligible persons would be able to decide on the plan they wish to purchase, if they even decide on buying health insurance.
“On my very first day as president of the United States, I will send legislation to the Congress to once and for all repeal Obamacare entirely,” said a very confident walker during a speech in Minnesota.
Walker has his sights set on replacing Obamacare by lowering taxes and offering taxpayers more freedom when it comes to choosing insurance plans so they can shop for coverage across state lines. He also seeks to eliminate the requirement that Americans must obtain health insurance, or risk getting hit with expensive annual fees.
In addition, Walker’s proposal calls for Medicaid reform, better options for people who suffer from pre-existing conditions (for whom the Affordable Care Act offers challenges in obtaining coverage), and to improve health savings accounts so Americans can have a greater amount of pretax money to cover the cost of medical expenses.
Walker maintains that his ideas will offer significant advantages over the Affordable Care Act, opening doors for the majority of Americans who are struggling to pay over-the-top fees on their insurance plans.
“My plan would roll back the damage done by Obamacare and when compared to the realities that existed before Obamacare, would not add to the deficit,” explains Walker.
Along with Walker, another presidential hopeful also has plans to do away with Obamacare through the use of tax credits. Florida Senator and fellow Republican, Marco Rubio, also aims to use tax credits as a way to minimize health insurance costs for Americans.
It’s too early to tell exactly how the tax credits would work, or even if it would benefit taxpayers in the long haul. One thing’s for sure though, any kind of policy that relies on taxes has the potential to be both beneficial and detrimental. It all depends on who the affected person is.
Though Obamacare seemed like a good idea at first, offering hope to those who’s employers did not provide insurance a chance to obtain coverage at an affordable price. But in reality, those who truly cannot afford insurance because of their income are still denied coverage through the Affordable Care Act, ironically, because they don’t make enough money.
Hopefully the next presidential candidate will offer relief to all taxpayers, and not place stipulations on who can or can’t afford coverage based on income brackets. If not, there will likely be a surge in the number of Americans consulting with tax lawyers to protect their hard-earned dollars and overall rights.