Reforming Health Insurance Plans Could Cost $1 Trillion

Healthcare reform is becoming an increasingly popular topic on Capitol Hill. However, one thing all of the current health insurance plans under consideration have is a fairly high price tag. Healthcare reform is becoming an increasingly popular topic on Capitol Hill. However, one thing all of the current health insurance plans under consideration have is a fairly high price tag.

A recent report by CNNMoney.com examines some of the ways that Congress may raise the revenues needed to finance what is expected to be a sweeping reform package when and if the time comes.

One way the needed revenue could be raised, according to the website, is to tax part of employer contributions to workers' health insurance plans, since under the current system, the government is said to lose $226 billion per year on what some lawmakers consider untaxed income.

Other options reportedly include imposing a Medicare tax on state and local government employees who currently do not pay them, and possibly changing or eliminating flexible spending arrangements (FSAs) that consumers use to meet various healthcare expenses largely tax-free.

Finally, CNNMoney adds that the government could also decide to impose a tax on soda and alcoholic beverages, and that limits on tax-free medical savings accounts could also end up under consideration.

Lawmakers have a long and difficult process ahead of them when it comes to passing a reform bill, and it is impossible to know at this point what kind of changes could be coming to people's health insurance plans.

For more on finding an affordable health insurance plan, visit InsureMe.com today.