Posts Tagged ‘companies like Aultcare’

Presidential Debate Rages On When it Comes to Health Insurance

Wednesday, October 17th, 2012

In the wake of the second Presidential debate last night, it’s as good a time as any to discuss the differences between President Obama and Mitt Romney when it comes to health care.  Insurance News Net’s “Report: Romney Vs. Obama’s Health Plans” summarizes a recent report from the Commonwealth Fund.  This report, “Healthcare in the 2012 Presidential Election: How the Obama and Romney Plans Stack Up,” says that Romney’s plans would leave 72 million people without health insurance by 2022.  I’m not sure Governor Romney would agree with this number, but the Commonwealth Fund’s report took into account the proposals of each Presidential candidate to fix the problems in our healthcare system.  They then estimated the amount of Americans who would be uninsured under both plans, divided up by age and income.

Economist Johnathan Gruber performed an analysis of the Affordable Care Act, along with an analysis of two Romney proposals in order to determine the number of uninsured Americans there would be under each plan.  Romney’s plans include providing states Medicaid block grants and offering tax incentives for Americans who buy their own individual coverage of health insurance.  When you look at Americans 19 and under, 6 million would be uninsured under Obama’s Affordable Care Act compared to 17.9 million under Romney’s plans.  The Affordable Care Act would leave 3.3 million middle-class families uninsured, while 17.7 million would be uninsured under Romney’s plans.  Families of at least 4 making less than $32,000 a year would be the hardest hit.  Obama’s plans leave 17.2 million of them uninsured and Romney’s will leave 38.7 million without health insurance.

Under the Affordable Care Act, those purchasing health insurance through exchanges or individual companies like Aultcare are estimated to spend around 9.1% of their income on their health care costs.  Under Governor Romney’s health plans that repeal the Affordable Care Act, individuals are estimated to spend either 14.1% or 18.1% (depending on potential tax breaks) on their health care costs.  This economic report doesn’t take other changes that could be made by either President into account, so job growth and Medicare changes could effect these statistics differently.  But it is interesting to see the comparison between the two potential outcomes taking only their health care plans into account.