Tony Novak CPA

5 things we know about the Republican health care reform plan

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by

Tony Novak
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We know more about the Republican plan to reform national health care policy now that the Senate has released its ‘secret’ plan. These are a few things that are all but certain at this point:

  1. Obamacare will not be repealed or replaced. Both the House and Senate reform bills keep most features of the prior law in effect and actually expand on these provisions.
  2. Tax penalties associated with health plans will be removed. 
  3. The poor will be hurt. Massive changes to Medicaid will hurt access to health care for the poor.
  4. The rich will benefit. The reform measures focus on huge tax cuts for high income individuals and businesses. The Republican proposals as written are more focused on these tax cuts than on reforming health care.
  5. The plan will change before passage. Both political parties want health care law reform this year but the currently proposed bills will need to be modified before passage.

There are still many more things we don’t know, but now we can finally put some financial planning strategies into motion to best prepare for the changes ahead.

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Comments

One response to “5 things we know about the Republican health care reform plan”

  1. Dave Patton Avatar
    Dave Patton

    I think we need to always keep in mind that the top wage earners in this country pay an OVERWHELMING, and unfair, portion of their income to the government which now spends approximately $.40+ from each dollar on social programs.
    I do not understand the animosity towards the very wealthy and I don’t understand the general dislike that appears to be growing for those that are financially successful considering they’re picking up the tab for those that for whatever reason are not contributing.
    I do not recall identity politics ever being more pervasive in our culture than today. I believe it began sometime around the election of our prior President. Identity politics was President Trump’s opponents strategy and it failed – however this way of thinking is becoming deeper and deeper and engraved into our culture, especially at the collegiate level. (Which is often times than another debt ‘picked up’ and paid for by the top earners in our society.)

    If there is enough room for me to continue commenting, I found a very interesting article that analyzes different segments of our population and what they pay in taxes, if anything, and also discusses how are our government spends our money. (It is referenced by the Congressional Budget Office.)

    Below is the link to the article. Although it appears Tony and myself do not completely share the same political views, hopefully he will permit my comments on his page to be shown although they’ve been written by a person (me) with different perspectives than his own.

    CLICK LINK:
    http://www.ntu.org/foundation/page/who-pays-income-taxes

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