Donald Trump came out with a healthcare plank tonight. There are 3 tax places within it worth exploring.
Health Savings Accounts (HSAs)
Permit persons to utilize Health Savings Accounts (HSAs). Contributions into HSAs should be tax-free and should be permitted to accumulate. These accounts would become part of the estate of the individual and could be passed on to heirs without fear of any death penalty. These policies should be specifically attractive to young persons who are healthy and can afford high-deductible insurance plans. These funds can be utilized by any member of a family without penalty. The flexibility and security offered by HSAs will be of great advantage to all who participate.
Premium Deductibility
Permit persons to completely deduct health insurance premium payments from their tax returns under the current tax system. Businesses are permitted to take these deductions so why would not Congress permit persons the similar exemptions? As we permit the free market to offer insurance coverage opportunities to companies and individuals, we must also make certain that no one slips through the cracks simply because they can’t afford insurance. We must review basic options for Medicaid and work with states to make sure that those who want healthcare coverage can have it.
Repeal Obamacare
Entirely repeal Obamacare. Our elected representatives must eradicate the individual mandate. No individual should be needed to purchase insurance unless he or she wants to.
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