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Tuesday, April 13, 2010

Health"care" reform? I think not.

To say that I'm disturbed by the new healthcare bill that has passed would be an understatement.  First it should be made clear that this is NOT bill for healthCARE reform.  This is a bill for affordable healthcare.  To dumb it down even further, it is health INSURANCE reform. 

Sec. 1501 "Requirement to maintain minimum essential coverage"

The United States government is FORCING American citizens to buy something whether you want to or not.  Does that not raise a red flag???  Let's compare health insurance to car insurance, shall we?  I am required by law to have insurance on my car.  However, driving is a privilege.  That means that I don't HAVE to drive.  If I choose to drive, then I HAVE to have car insurance.  See the difference?  The federal government is telling me that I have to have health insurance whether I want to or not.  They are taking away my choice. 

Sec. 9002 "Inclusion of cost of employer-sponsored health coverage on W-2"

For those Americans that CHOOSE to get health insurance through their employers, you will now see an additional box on your W-2.  This will include the cost of your insurance to your employer and be added to your gross income liability.  By Jan. 1, 2014 when this bill goes fully in effect, I have no doubt that the cafeteria plan will be obsolete.  So not only will we not be able to reduce our taxable gross income, we will be paying taxes on monies that we are paying for health insurance.  This particular section is going to do nothing but hurt people like me that already CHOOSE to have health insurance and are lucky enough to get it through our employers. 

Sec. 9005 "Limitation on health flexible spending arrangements under cafeteria plans"

Yet another way that my taxable gross income will go up.  This section will limit the amount of money you can put in your FSA plan.  It cuts it by HALF.  Last year I put $2k in my FSA plan and the money was spent by June.  I should have put the full $5k you can put in, but I didn't think I needed that much.  This year, I've put $3k in.  I've already used $1k of it.

The tax cuts from 2000 are expiring.  Add in Sec. 9002 and Sec. 9005 and I'm going to be put in a higher tax bracket.  It's a snowball effect.  I will pay more taxes so I will have less disposable income.  Therefore I will spend less.  What I personally put in the economy is minute, but when you take millions of people like me, it will take a noticeable effect.  That's not even taking into account the fact that businesses will be forced to raise their prices to meet the requirements of this bill.

My opinions are based on facts.  The government should not have the right to tell American citizens what they must buy.  For the life of me, I can't imagine why an American would support this.  It truly boggles my mind.

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