Senate Finance Committee releases policy options for financing health care reform
Healthcare reform is a major objective of the Obama administration . How much will it cost, and how will it be paid for? The Senate Finance Committee has released several documents recently. The third and final paper addresses policy options. It can be found here on the committee website. Public comments are due by May 26th, and can be sent to health_reform@finance-dem.senate.gov
A summary of some of the options being considered:
1. Looking within the current health system for opportunities to reduce waste and inefficiencies (ensuring appropriate payment; capturing productivity gains; reducing geographic variation; making beneficiary contributions more predictable.)
2. Modifying the current tax treatment of health-related expenses (exclusion for employer-provided health insurance,; modify health savings accounts; modify or eliminate flexible spending accounts; standardize the definition of qualified medical expenses; modify the itemized deduction for medical expenses; modify the special deduction for non-profit blues; modify the FICA tax exemption for students; medicare payroll tax for state and local government employees; modify the rules pertaining to nonprofit hospitals.)
3. Lifestyle tax proposals (increase taxes on alcoholic beverages; impose and excise tax on sugar-sweetened beverages.)
4. All revenue raising measures proposed in the President’s Health Care Reform Revenue Fund.
What do you think? Remember, the Committee asks for your feedback by May 26th. –nks
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