Published on : Aug 18, 2015
Scott Walker has proposed to replace the signature healthcare law by President Barack Obama. The law proposed by Walker would set a system that eliminates several federal mandates and will provide tax credits to uninsured on the basis of their age and not income or family status.
The GOP presidential candidate and the Wisconsin governor said that his plan will not add to the federal deficit, however, it would completely dismantle and repeal the healthcare laws touted by the Obama administration. Mr. Walker intends to give more control to the states, eliminate tax credits based on income, and overhaul Medicaid. The set of laws will also toss out the regulatory requirements offered by insurers that encompass significant health benefits such as mental health services and maternity care.
Instead, the set of laws proposed by Mr. Walker will offer tax credits even to those without employer-sponsored health coverage. People can use these credits to purchase insurance from the open market, and the value of the insurance will be solely based on the person’s age. Consumers who are 17 years old or younger will be eligible for credits valued at US$900, while the older consumers between the age of 50 and 64 years will be eligible for credits worth US$3,000. The new system will also help in increasing the annual limits on the tax-free health savings accounts. The system will be a popular program for people covered under high deductible plans and will allow everyone a refundable tax credit of up to US$1,000.
The healthcare plan rolled out by Mr. Walker is likely to raise the ire of Democrats. The plan was announced a day after Mr. Walker tried to stabilize the poll numbers of his flagging campaign by opposing the congressional GOP leadership.