I have watched, at least partially, the many vying for the Democrat presidential nomination. The first debate was too boring to watch to the end. I am still attempting to watch the recorded second. I was indeed struck by the socialist Sen. Bernie Sanders describing Medicare for all and the disbanding of private health insurance. No copays, no deductibles, no premiums, in essence no out of pocket expenses and, wow, better care than people have now
These are my health insurance premiums/costs for the tax year 2018: $3,156 deducted from our Social Security for Medicare, Blue Cross Supplemental $4,802, Blue Cross Prescription $909, John Hancock long term care $2,615.02. The total is $11,482.02 or $956.84 per month.
Under the present tax code these insurance expenses are deductible, reducing my taxable income. Under the plan unveiled by all Democrats running for the office, these deductions would go away. My point is, whether marginal tax rates go up or these deductions go away, we as a couple will, without doubt, pay more in taxes and be promised better care than we have now? Right now the only copay we have is on prescription drugs, and I can normally get to see my health care provider on routine matters within five days. Who can guess how long wait times will be once health care is free?