Thursday, October 29, 2009

Senate bill's fine print: Premiums could rise in spite of caps

McClatchy reports:
Proponents of the Senate Finance Committee's health care bill say the legislation will limit the amount that lower- and middle-income people must pay for health insurance to a maximum of 12 percent of their incomes.

There's a catch, however: The fine print shows that, over time, the premium costs could rise well beyond those caps. That's because the cost of coverage would shift from a percentage of income to a percentage of the premium, no matter how high the premiums go.
The fine print of socialism.