McCain and Obama’s Insurance Plans: Economists Perspectives
The verdict is in for Senator Barack Obama and Senator John McCain’s health insurance reform plan: Neither will work. Top economists reviewed each health insurance proposal and had matching conclusions that neither Democratic candidate Senator Obama nor Republican candidate Senator McCain’s plan will do any good for Americans, reported the Associated Press and The Washington Times.
Under Senator McCain’s reform plan, workers would be pushed out of the employer-based health insurance system - around 20 million, estimates these economists. McCain’s plan does allow people to purchase individual health insurance across state lines, which will result in about 21 million obtaining coverage.
The critique says that the $2500-$5000 tax credits that McCain will provide will not offer savings because when the premiums increase and coverage is lowered, Americans won’t be able to get ahead. Economists basically concluded that McCain’s plan would not help reduce the uninsured Americans numbers.
They didn’t have any better things to say about Senator Obama’s plan. Two of the three economists grading Obama’s plan were McCain advisors, so it was pretty tough. According to Obama’s critique, his proposal would be very costly for the government and hasten health inflation.
In his plan, job losses and pay cuts would be a result of his requiring businesses to provide workers with health benefits. Although the reports appear cynical, we are not experts.
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