Tax Breaks for Health Insurance Buyers

President Bush wants to give tax breaks to individuals who purchase their own health insurance.

The proposal was made by President Bush during his State of the Union address to Congress yesterday. Currently, employee-sponsored health insurance coverage is already tax deductibles but those that voluntarily purchase their own coverage do not get the same benefit.

The initiative, if passed, will not lower the cost of health care outright but will obviously make coverage more affordable for many. However, since even more people usually opt not to get health insurance coverage because they simply cannot afford the out-of-the pocket expense of having to pay for monthly premiums this will still leave millions without the ability to get covered. Still the several millions who will benefit from the initiative is still better than nothing.

According to President Bush he also wants Congress to pass the initiative within this year, which is also his last year in office.