AT&T takes $1 billion health care reform chargeSubmitted by Katherine on Sun, 03/28/2010 - 08:06
When the Medicare prescription drug program was passed in 2003, it included a provision granting employers a subsidy of 28%, or up to $1,330, per retiree for prescription drug costs.
Even though the federal subsidies were already tax free, employers
could still write them off on their income taxes, in addition to
writing off their own contribution. The new law, signed by Obama on
Tuesday, maintains the subsidy as a tax-free incentive to employers, but prohibits them from taking it as a deduction.
Lyndon Johnson gave us medicare/medicaid. Health Care prices began to climb.
Richard Nixon gave us managed care to help control those rising prices. Services were cut while health care prices continued to rise.
GW Bush gave us a drug program and prices for drugs went up.
Oboma made managed care mandatory for everyone.
With mega-corp AT&T's example, what would lead us to believe or even hope that more of the same will not produce even higher prices for employee health insurance coverage?