Glenn Beck’s “Restoring Honor” Rally Supports Special Ops Troops and Families.
RESTORING HONOR 8.28.10
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To those of you who retain some remnant of dignity and the will to live your lives for yourselves, you have the chance to make the same choice. Examine your values and understand that you must choose one side or the other. Any compromise between good and evil only hurts the good and helps the evil.
~John Galt
When a long train of abuses and usurpations,pursuing invariably the same object evinces a design to reduce them under absolute despotism,it is their right,it is their duty,to throw off such government,and to provide new guards for their future securities.
~Declaration of Independence
By CARL CAMPANILE
An annual tax on insurance companies proposed under ObamaCare could boost health-coverage premiums by nearly $500 for many middle-class families, according to an analysis released yesterday.
Customers of Blue Cross and Blue Shield would be particularly hard hit, the study by the Federal Policy Group said. Blue Cross and Blue Shield are required to pay taxes on income despite their nonprofit status.
“This math is pretty straightforward. They’ll pass the cost along to customers,” said the group’s managing director, Ken Kies, who represents Blue Cross/Blue Shield firms.
The study examines the impact of the $6.7 billion fee on insurers included in the massive health-care reform bill approved on Tuesday by the Senate Finance Committee.
The analysis claims the levy will boost total tax rates to more than 50 percent for some insurers.
“Companies that are marginally profitable, companies that are losing money would see the greatest financial hit,” Kies said.
The study said a family of four not eligible to receive subsidies under the bill could face a premium increase of $489.25. The increase would be offset for those who get government aid to afford insurance.
The analysis did not take into account other taxes in the bill. They include levies on high-cost insurance policies and new fees on medical devices and drug makers.
“When all of these fees are taken into account, the increase in health-care premiums for a family of four could be substantially higher,” Kies said.
Another insurance industry-study released this week claimed that premiums would be $4,000 higher under the Baucus bill.
President Obama and other Democrats charge that such dire industry reports are desperate distortions aimed at scuttling reform. They say insurers are ignoring aspects of the legislation that would cut health-care costs or boost insurers’ bottom lines.
“This is when the insurance companies are really going to start gearing up,” Obama said at a town hall in New Orleans.
“Their stock went down when the Senate Finance Committee voted out that bill. Now they’re getting nervous and, by the way, they have been wildly profitable over the last decade.”
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Tags: Blue Cross, Blue Shield, Federal Policy Group, health care, insurance, obamacare, public option | Category HEALTH CARE*
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