Solution To The “Obamacare” Fiasco?

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One of the main complaints about the Affordable Care Act, or Obamacare is it is bad for business.  The cost of requiring health insurance is just too high, and will lead to businesses either 1) shutting down or 2) never starting in the first place.

This is obviously a gross simplification.  But every business struggles with health care.

http://www.texastaxtalk.com/files/2013/10/o-TED-CRUZ-OBAMACARE-facebook.jpg

So why not eliminate it as an a issue for businesses?  Here is a possible solution:

1) No longer allow a deduction for businesses for healthcare related premiums.  The point is to eliminate employer provided healthcare coverage.

2) Instead offer an above-the-line deduction for each taxpayer for their premiums.  Employers could pay their employees all or part of the extra money they are saving.

This gives individuals much greater choice in the marketplace and reduces the burden to employers.

So like Texas Senator Ted Cruz says, “Restore freedom to the people.” Let the people choose their healthcare and give them a deduction for the premiums.

Topics:  Affordable Care Act, Healthcare, Premiums, Tax Deductions

Published In: Elections & Politics Updates, Health Updates, Insurance Updates, Labor & Employment Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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