How will HR 676 not cost more?

Question by halynr1500: How will HR 676 not cost more?
I don’t know much about HR 676. It has been said that it will cost less, but yet the context of the bill talks about raising takes to the top 5% income bracket. Can someone clear this up?

Best answer:

Answer by Tara
I haven’t read the entire bill, so I don’t know about the top 5% income bracket.

I’ve been reading a summary of the bill which says the bill calls for employers to pay a 3.3% tax to cover this “insurance” (expanded medicare to all). While this would be a savings to some companies, it would also be a big expense for others. And if employers have to pay for this insurance, will they still have to pay worker’s compensation? Seems to me they would be taxed for two insurances – one for accidental on the job and another for all other health care.

Private insurance companies would NOT be allowed to sell insurance that covers what this national health care will. They can sell what it won’t cover (cosmetic, medically unneccessary, etc…). I don’t know what medically unneccessary procedures mean. Sounds like the government could then decide your medical treatment procedures and that just doesn’t sound good to me.

Personally, I don’t want the government making these decisions for me, let alone the cost of it.

I have found this information in the summary:
“Proposed Funding For USNHI Program: $ 1.86 Trillion Per Year

A payroll tax on all employers of 3.3%. Maintain employee and employer Medicare payroll tax of 1.45%. Implement a variety of mechanisms so that low and middle income families pay a smaller share of their incomes for health care than wealthiest 5% of Americans; i.e, a health income tax on the wealthiest 5% of Americans, a small tax on stock and bond transfers, and closing corporate tax shelters. A repeal of the Bush tax cut of 2001. For more details, see PNHP’s “Financing National Health Insurance.”

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