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Have u seen Ron Paul's HR 1495 the `Comprehensive Health Care Reform Act of 2009'? Full text below?
A BILL
To amend the Internal Revenue Code of 1986 to make health care coverage more accessible and affordable.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the `Comprehensive Health Care Reform Act of 2009'.
SEC. 2. REFUNDABLE CREDIT FOR HEALTH CARE COSTS.
(a) In General- Section 35 of the Internal Revenue Code of 1986 (relating to health insurance costs of eligible individuals) is amended to read as follows:
`SEC. 35. HEALTH INSURANCE COSTS.
`(a) In General- In the case of an individual, there shall be allowed as a credit against the tax imposed by this subtitle an amount equal to the sum of--
`(1) the amount paid by the taxpayer for insurance which constitutes medical care for the taxpayer and the taxpayer's spouse and dependents, plus
`(2) the amount contributed to a health savings account of the individual (or the individual's spouse).
`(b) Limitation- The credit allowed by subsection (a) for the taxable year shall not exceed the sum of--
`(1) the taxpayer's net income tax for the taxable year, plus
`(2) the taxpayer's Social Security taxes (as defined in section 24(d)) for such taxable year.
For purposes of paragraph (1), the term `net income tax' means the sum of the regular tax liability plus the tax imposed by section 55, reduced by the credits allowable under this part (other than this subpart).
`(c) Denial of Double Benefit-
`(1) IN GENERAL- Any amount allowed as a credit under this section shall not be taken into account in determining the amount of any deduction under this chapter.
`(2) COORDINATION WITH HEALTH SAVINGS ACCOUNT CONTRIBUTIONS- For purposes of paragraph (1), amounts taken into account under subsection (a) for a taxable year shall be treated as being attributable to amounts paid for insurance to the extent of such payments.'.
(b) Conforming Amendments-
(1) Section 223(b) of such Code, as amended by section 4, is amended by adding at the end the following new paragraph:
`(4) COORDINATION WITH CREDIT FOR HEALTH INSURANCE- The limitation under paragraph (1) shall be reduced by the amount treated as being taken into account under section 35(a)(2).'.
(2) Section 223(e)(3)(B) of such Code, as amended by section 4, is amended by inserting `nor treated as being taken into account under section 35(a)(2)' before the period at the end.
(3) Section 4973(g) of such Code is amended--
(A) in paragraph (1) by inserting `or a credit under section 35' after `section 223', and
(B) in paragraph (2)(B)(i) by striking `maximum' and inserting `sum of the amount treated as being taken into account under section 35(a)(2) plus the'.
(4) Section 162 of such Code is amended by striking subsection (l).
(5) Chapter 77 of such Code is amended by striking section 7527 and by striking the item relating to section 7527 in the table of sections for such chapter.
(6) Subpart B of part III of subchapter A of chapter 61 of such Code is amended by striking section 6050T and by striking the item relating to section 6050T in the table of sections for such chapter.
(7) Section 6103(l) of such Code is amended by striking paragraph (18).
(8) Section 6103(p) of such Code is amended--
(A) in paragraph (3)(A) by striking `(17), or (18)' and inserting `or (17)', and
(B) in paragraph (4) by striking `or (18)' after `any other person described in subsection (l)(10), (16)' each place it appears.
(9) Section 7213A(a)(1)(B) of such Code is amended by striking `subsection (l)(18) or (n) of section 6103' and inserting `section 6103(n)'.
(10) Section 6724(d)(1)(B) of such Code is amended by striking clause (xiii).
(11) Section 6724(d)(2) of such Code is amended by striking subparagraph (DD).
(12) The item relating to section 35 in the table of sections for subpart C of part IV of subchapter A of chapter 1 of such Code is amended to read as follows:
`Sec. 35. Health insurance costs.'.
(c) Effective Date- The amendments made by this section shall apply to taxable years beginning after December 31, 2009.
SEC. 3. DISPOSITION OF UNUSED HEALTH BENEFITS IN CAFETERIA PLANS AND FLEXIBLE SPENDING ARRANGEMENTS.
(a) In General- Section 125 of the Internal Revenue Code of 1986 (relating to cafeteria plans) is amended by redesignating subsections (i) and (j) as subsections (j) and (k), respectively, and by inserting after subsection (h) the following:
`(h) Carryforwards or Payments of Certain Unused Health Benefits-
`(1) IN GENERAL- For purposes of this title, a plan or other arrangement shall not fail to be treated as a cafeteria plan solely because qualified benefits under such plan include a health flexible spending arrangement under which not more than $500 of unused health benefits may be--
`(A) carried forward to the succeeding plan year of such health flexible spending arrangement, or
`(B) paid to or
Essentially it creates personal health savings accounts not dependent on any employer, where you keep the interest and where every payment into the account, for health insurance or for health care gets a credit, up to the amount of your net income PLUS social security taxes withheld.
I included the whole thing because it isn't a thousand pages long, which recommends it to me further. Control by the individual, not a third party payer, cuts costs for ALL. This lowers costs, it does not enrich big insurance companies nor big pharma companies. Even if subsidies were added by removing the limit on credits costs would still be REDUCED so the cost of subsidy would be reduced, and individuals remain in control of their health care.
Thoughts?
Teleprompter - no benefit in winning if the candidate is no good. This isn't about presidential candidates, this is about a bill in congress. Or do you prefer Obama's?
Free at last, actually, he did. But every year if a bill isn't passed, you have to re-introduce it.
Teleprompter re: your second line, all those statements are patently false. Can't you find anything true against him?
crud, not quite the whole thing attached, there is also a deduction for high dectible health insurance and for medicaid / medicare type payments.
type the bill number in at thomas.gov to get the last bit.
Reporter, you can buy a true health insurance policy JUST for catestrophic illness for that contingency and it will cost much less.
6 Answers
- tott1Lv 51 decade agoFavorite Answer
a tax credit for what i not my employer spends on health insurance and a hsa or flex spending account that actually carries forward that i could use. the only reason i do not put money in the flex account at work is that it is lost if i do not use it and as a single man with no dependants on my insurance i can not count on spending it every year if it could build up until i need it it would be worth doing. and it would make it easier to have catastrophic medical insurance in stead of a hmo.
- Anonymous1 decade ago
See the part in "What's your source?" to see why this is a crock. Who makes. let alone owes in taxes and SS, several hundred thousand or millions, the cost of medical catastrophes that put people into bankruptcy because it maxes out their insurance? This is yet another asinine conservative band-aid where a tourniquet is needed.
But the only way Obama's is better is if it eventually leads to the destruction of the HMO racket.
Source(s): (b) Limitation- The credit allowed by subsection (a) for the taxable year shall not exceed the sum of-- `(1) the taxpayer's net income tax for the taxable year, plus `(2) the taxpayer's Social Security taxes (as defined in section 24(d)) for such taxable year. For purposes of paragraph (1), the term `net income tax' means the sum of the regular tax liability plus the tax imposed by section 55, reduced by the credits allowable under this part (other than this subpart). - 1 decade ago
@Messiah: You aren't a conservative because you don't know what a conservative is. Ron Paul is the most conservative man in Congress right now.
Maybe you're one of those neoc*nts who think they are conservative. You are the kinda guy that would vote for Bush.. again if he could.
- Anonymous1 decade ago
I mean really could Ron get any better? Wow.
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- 1 decade ago
Yes, lets let Paul be our candidate so we can get 2 percent of the vote again!
Paul is a 911 truther, a racist and a nutter and no one in their right mind over 30 would vote for him.
I'm republican. You run Paul, we lose again. Up to you.
