Obama-led health plan is a nightmare

If the U.S. House/President Obama health insurance plan passes, we get:

l A government option that does not have to make a profit or pay taxes, giving it an overwhelming advantage.

l A government plan with no incentive to control fraud and abuse.

l No new private-sector policies can be issued after Jan. 1.

l If your current qualified plan changes any terms, it is no longer a qualified plan and you have to go to the government plan,

l If you switch jobs or lose your job, you have only one option, the government option.

l Medicare benefits will be drastically cut for older Americans.

l Medicaid will be drastically expanded to cover those well above the poverty line, with huge tax consequences.

l Young people who don't want to spend money on health insurance will be fined $2,500 per year by the IRS.

l Small employers who do not provide health insurance (government option) will be fined 8 percent of their payroll costs, leading to more unemployment and/or lower wages and/or higher prices.

l Bureaucrats will decide what kind of benefits you get, their cost and who lives or dies.

l Your taxes going to the federal, state and local governments will exceed 50 percent of your income, meaning you get to keep less than half of every dollar you earn.

l Eventually, only a single payer/government plan will exist!

Who wants this nightmare?

Ed and Nancy Cahill

Cedar Rapids