Regardless of their personal health, almost every American worries about the high cost of healthcare. For some it's the bills they are paying for past and present health problems, for others it's expensive insurance that comes with high co-payments for prescriptions, doctor's visits and hospital care.
Premiums can be so costly, many just go without insurance. At one workplace I know of, the cost for a forty-hour a week employee worked out to be about $4.50 an hour for a family plan. This was no benefit for most of the employees who earned an average of about $9.00 an hour. So the employees and their families just lived without health insurance.
Meanwhile, few hospitals would just let an ill patient go without care, so those without insurance are admitted to the emergency room, and the costs go to the government, non-profits and those who do have health insurance.
Presently, only uncompensated healthcare expenses over 7.5% of a person's adjusted gross income, or money pre-saved in medical savings accounts, are tax-deductible. It is morally unacceptable that citizens of a wealthy nation such as ours have to pay taxes on healthcare expenses.
When I'm elected to Congress, I will work to correct with this problem. Under my plan, all uncompensated healthcare costs will be 105% deductible from federal taxes; including direct healthcare expenses like doctor's visits, prescription drugs and hospital stays. Healthcare insurance will also be 105% deductible for both employers and employees.
These tax deductions will save the federal government money in the long-run since individuals will be less likely to go without insurance. The extra 5% saved by both employers and employees will provide a strong incentive for individuals and businesses to have and provide insurance.