Democratic vice-presidential nominee Joe Biden offered a health insurance warning to St. Louis, Missouri residents: Republicans John McCain and Sarah Palin will put your group health insurance at risk.
“For the first time in American history, they want to tax your health care benefits. I am not making this up,” said Senator Biden.
Senator Biden is right.
Arizona Senator John McCain does want to push more workers into the individual health insurance market. McCain’s health insurance plan calls for taking away an employer’s tax incentive to provide health benefits — by levying new taxes, reported the St. Louis Post Dispatch.
According to Senator Biden, “a person earning $50,000 a year, with employer-provided health care worth $12,000 a year, would be subject to income taxes on all $62,000. ”
Senator Biden’s running mate, Illinois Senator Barack Obama, instead would keep the employer-sponsored health insurance system and require all businesses to either provide health benefits or help their workers purchase a plan.