If you love insurance companies, you'll love the new Bush healthcare plan. According to Froma Harrop
, the basic changes Bush is proposing are:
1. Eliminate company expensing of employee healthcare
2. Allow people to establish accounts to cover medical expenses, paying no taxes on the income deposited or on any money made.
3. Require people to buy Medical Savings Accounts for catastrophic coverage.
The predictable effects are that:
1. The Treasury will lose another $156 billion in revenues over 10 years. That's enough to provide coverage for millions of people.
2. Almost all of that money will be a tax break to the wealthy.
3. Small businesses, and perhaps some larger ones, will drop coverage. Harrop predicts that over a million poor/middle class people will lose all coverage and points out the parallel to how the shift from pensions to 401(k)s shifted costs and risks from employers to employees.
4. GOP contributors like Golden Rule will make out like bandits
I think there's another predictable effect, namely that the healthcare system will collapse as healthcare costs spiral out of control.
But of course by then, the Cooger and Dark's Pandemonium Shadow Show
will have struck its tents and moved on.