President Bush’s Health Plan

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President Bush’s Health Plan Employer contribution to health insurance counted as income Tax deduction of $7,500 for individuals, $15,000 for families for everyone with insurance Estimated impact in 2009 (Lewin Group): 9.2 million fewer uninsured Increased federal budget deficit of $61 billion in 2009 and $154 billion 2009–2018 Cost of covering newly insured is $6,720 per person Reduces health spending by $13 billion Tax benefits largely go to people with family incomes over $50,000 (70% of tax cuts) One-fifth of tax cuts go to uninsured 12.1 million lose employer coverage 26% drop in coverage in firms with fewer than 10 workers Source: The Commonwealth Fund