A “just do nothing” approach to health care tax issues is one sure way to arrive at national health care, cautioned Georgia Insurance Commissioner John Oxendine during the spring meeting of the National Association of Insurance Commissioners here.
And, he continued, a federally run health insurance system “would be the worst thing that could happen to our children and grandchildren.” The remarks were made during a session of the Tax Policy working group.
Part of the answer, according to Oxendine, is to get the American people to buy into health insurance and realize that the $15 co-pay in many cases does not come near covering the cost of insurance. “The American family is totally out of touch,” he said. “Mom and dad can manage their care better than insurance executives” and they need the financial incentives to do that, he continued.
That incentive can come in the form of tax incentives to help families with health savings accounts and other kinds of health care savings programs, he said. “We need to support any consumer driven product.” In Georgia, Oxendine said, bills such as one that exempts HSAs from state premium taxes are being pursued.
Regulators should engage in that debate both through action at the working group and by “calling on Congress to do the same.”