Obama’s Plan to Rescue Health Care

17 Mar Obama’s Plan to Rescue Health Care

Can Baby Boomers Afford Obama's Plan to Rescue Health Care

President Obama introduced us to his healthcare plan when he was competing to be the Democratic representative for the presidential race. He’s received a lot of praise for it with many persons saying that it was a practical approach to a very big problem. Now, President Obama is about to embark on implementing the plans and the voices of those in opposition have become louder. Do we still want better health care at any price?

Obama proposes in his health plan that typical American families will save about $2,500 per year on health insurance alone. He proposes to do this by injecting more money into health insurance schemes for the purpose of expanding them into full coverage schemes where necessary and to make them cheaper and so available to more persons. Employers will be required to provide more coverage for their workers and the government will help them in covering their expenses by rolling back the tax cuts on the wealthiest tax payers in the country.

President Obama hopes to shift the focus of health spending from paying insurance companies to investing in better healthcare equipment and funding preventative and detective services such as scans for cancer etc. He, also, proposes to get funding from lifting the tax cuts on inheritances over $7 million dollars that former President Bush put in place. President Obama, also, intends to establish a regulatory system for insurance companies to ensure that they do not refuse coverage on the basis of pre-existing conditions and to prevent them from charging exorbitant fees from their private clients. So how is any of this bad?

Requiring companies to cover more of their employees’ insurance could mean that you will go home with less of your salary in your hand because your employer will have to allocate more of the payroll towards paying for your insurance schemes. Also, the problem that this presents for Baby Boomers is that most of the healthcare plan is focused on workers. When you retire, then what happens to your health insurance?

Under this scheme, some people are claiming that you will no longer be able to access insurance because the coverage that President Obama is pushing is primarily for those who are working. It has been argued that though the plan covers public healthcare it does not cut the cost per se; but simply provides more access to things that were limited before. For example, if you could not get a wheelchair under a public healthcare scheme but under Obama’s plan you will be able to access it. But, is this really better? And is this the best way to go about it?

Political bloggers have highlighted a way to elude the heavier taxes that are to be imposed on the wealthier tax payers. If they divide their investments so that their final sums are lower than the prescribed limit given by the government, then they fall below the amount to be taxed and funding for the healthcare plan dwindles. It is assumed then, that in an effort to sustain the plan, the general American population will have to face higher taxes and this was not a problem addressed by his proposal.

President Obama has not finalized all the details in his presentation on the healthcare plan and so people are awaiting a verdict on the many questions that have emerged after further investigation into his healthcare plan. It is obvious that the plan needs to be further refined. After all, Americans can’t work forever and when they stop working what will they do for healthcare then? We, at BoomerYearbook.com, will keep you posted on news of the healthcare plan and how it affects Baby Boomers.

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