Health care plans of McCain vs. Obama

Our children’s health being a parent’s primary concern, I thought it would be interesting to see how Barak Obama and John McCain’s policy for health care differ.

In summary, Barak Obama wants a new national health plan for all US citizens and have government establish a national practice standard for health providers. McCain wants to make health insurance more affordable by fostering competition among insurance companies, and giving families’ freedom of choice in choosing health care insurance across state lines.

Disclaimer – I read this from the Health-insurance-carriers.com blog and not my own personal opinion or analysis.

Barak Obama:

• Guaranteed Eligibility. This will allow sick people (with recent and pre-existing conditions) to obtain health care.
• Comprehensive Benefits. This is similar to the package offered through Federal Employees Health Benefits Program. It will cover all necessary medical services, which include preventive, maternity and mental health care.
• Affordability. There will be lower premiums, co-pays and deductibles.
• Simpler paperwork and reined in health costs.
• Public Plan with simple enrollment and ready access to coverage.
• Portability and Choice. People enrolled in the new public plan and the National Health Insurance Exchange (another Obama plan) will be able to move from job to job without jeopardizing insurance coverage.
• Quality and Efficiency. The health insurance companies participating in the new plan will be required to report data to ensure that standards for quality are met

John McCain:

• By reforming tax code to eliminate the bias toward employer-sponsored health coverage and providing everyone with a $2,500 tax credit; families will receive $5,000. This will increase incentives for health care coverage.
• Allowing families to purchase health care insurance nationwide to maximize choices and heighten competition.
• Providing multi-year coverage that moves with you from job to job and from home to home.
• Requiring states with Medicaid to develop a financial risk adjustment bonus to high-cost and low income families that will supplement tax credits and funds for Medicaid.
• Allowing people to purchase insurance through any organization or association of choice (i.e. churches, employers, individual purchases, and professional associations). The policy chosen will be available to small businesses and the self-employed; and will be portable across jobs. It will also automatically bridge the time between Medicare eligibility and retirement. Certification and rigorous standards would have to be met before plans are approved.

Source:
Safiyyah Lanier. “Health Care: John McCain vs Barack Obama” Health Insurance Carriers. March 24th, 2008.