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Senate Finance Chairman Max Baucus released his revenue "policy options" and high on the list is . . . taxing health benefits. The tax exclusion is such a big revenue prize because Baucus is scrubbing every other tax nook and cranny and only coming up with rounding errors. A sampler:
- End or limit the tax-exempt status of charitable hospitals, which only costs currently a mere $6 billion a year.
- Make college students in work-study programs subject to the payroll tax; also targeted are medical residents,
- Reducing Medicare reimbursement rates for supposedly "over valued physician services," such as diagnostic imaging; CBO says that requiring doctors to get prior clearance could save $1 billion in 10 years.
- For individuals with high-deductible insurance plans, contributions to health savings accounts would no longer be tax deductible; that would penalize patients who choose plans that encourage them to be informed consumers
To finance government-run health care, liberals will have to tax everything in sight, and that includes your current health insurance...
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